Endure Capital, Seedstars, Camel Ventures, Falak Startups, and several angel investors have all contributed to Suplyd's $1.6 million in pre-seed investment to develop the company's procurement platform for the HoReCa industry in Egypt.
Suplyd, a B2B platform for the food service sector launched in January of this year, streamlines the process of placing, processing, and fulfilling orders via the use of digital channels.
Restaurants may save time and money by ordering their supplies from an online marketplace instead of going out and finding them themselves. Additionally, this assures that the companies can purchase the supplies at market pricing.
With this fresh capital, Suplyd will be able to scale its technology, expand its operations in and outside of Cairo, and look into other development prospects in the Middle East and North Africa (MENA) area.
The restaurant industry's supply chain is an international problem, and everyone is investigating ways to save money and reduce waste right now. Suplyd CEO Gohar Stated, who created the company alongside Karim Selima and Ahmed ElMahdy, said, "The Egyptian market is tremendously huge but untouched, and that's where we target our efforts for the next phase before we extend to other worldwide markets."
Suplyd, founded by 12-year restaurant industry veteran Said, is bringing an e-commerce experience to the restaurant supply chain, with the goals of optimizing assets, reducing waste for the entire ecosystem, and saving businesses time and energy previously spent communicating and following up with suppliers.
Suplyd can meet restaurants' supply demands on demand and reduce waste on both ends thanks to the startup's network of tech-enabled fulfillment centers, which provides data on demand patterns and trends that influence stocking.
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