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Supply soundA procurement platform for hotels, restaurants and catering (HoReCa) businesses in Egypt has raised $1.6 million in pre-seed funding from Endure Capital, Seedstars, Camel Ventures, Falak Startups and several angel investors.
Launched in January this year, Supply’s B2B platform brings efficiency to supply chain operations for businesses in the foodservice industry by enabling digital order purchasing, payment and fulfillment.
Through its platform, restaurants get access to a wide range of products on demand, eliminating man-hours wasted in offline procurement. It also ensures that businesses get products at competitive prices.
Supply plans to use the new funding to scale its technology and expand within and beyond Cairo, as well as explore other growth opportunities in the Middle East and North Africa (MENA) region in the near future.
“The supply chain of restaurants is a global issue, and now everyone is looking at how to reduce costs and reduce waste. However, the Egyptian market is very large, but still untapped, and we are directing our efforts to the next phase before expanding to other global markets,” he said. Gohar saidSUPPLITE CEO who co-founded the startup Karim SelimaAnd Ahmed Elmahdi.
A restaurateur for 12 years, Supply brings e-commerce experience to the restaurant supply chain by optimizing assets, reducing waste for the entire ecosystem, and saving business time and effort used to communicate and follow up with suppliers.
The startup’s network of tech-enabled fulfillment centers provides supply insights into demand patterns and trends that inform stocking, ensure restaurants’ needs are met on-demand, and prevent wastage for suppliers.
“In a normal scenario, restaurants have to go to the market to find suppliers for their SKUs, and then they start checking their prices. Even if a perfect match does happen, it doesn’t always happen, there is a risk of fulfillment due to tight delivery windows, order placement constraints or quantity issues,” he said.
“Supply is a digital procurement engine, a platform that makes it easy for restaurants to purchase ingredients at significantly lower prices than open market prices, exposes restaurants to a wide range of SKUs, guarantees fulfillment through a single platform and simplifies the transaction and delivery process. Real-time when it comes to demand patterns and trends. It benefits suppliers with analytics and actionable insights,” he said.
Supply says it currently serves 500 customers in greater Cairo, growing nearly 50% per month since its launch. The startup is increasing competition for such players OneOrderIt expects more growth in the next one year due to its expansion plans aimed at serving Egypt’s vast HoReCa industry, supported by more than 400,000 restaurants.
Tarek Fahim, general partner at Endure Capital, said: “Eating food is an important part of social life in the Middle East, but the supply chain that enables restaurants to serve customers is highly fragmented. We are delighted to support the group and to digitize the supply chain for restaurants, improve efficiency and reduce food waste in our communities. It is also developing a supply platform for reduction.
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