Egyptian Suplyd raises $1.6 million to digitize restaurant supply chain • TechCrunch
Suplyd, a sourcing platform for hotels, restaurants and catering businesses (HoReCa) in Egypt, raised $1.6m in pre-seed funding from Endure Capital, Seedstars, Camel Ventures, Falak Startups and a number of angel investors.
Founded in January this year, Suplyd’s B2B platform brings efficiency to supply chain operations for foodservice businesses by enabling digital sourcing, payment and order fulfillment.
Through its platform, restaurants have access to a wide range of on-demand products, saving them hours of labor lost in offline sourcing. It also ensures that businesses acquire goods at competitive prices.
Suplyd plans to use the new funding to scale its technology and expand in Cairo and beyond, and to explore other growth opportunities in the Middle East and North Africa (MENA) region in a near future.
“The restaurant supply chain is a global issue, where everyone is currently looking for ways to cut costs and reduce waste. However, the Egyptian market is extremely large but untapped, and this is where we are directing our efforts for the next phase before expanding to other global markets,” said Gohar Said, CEO of Suplyd who co-founded the startup. with Karim Selima and Ahmed El Mahdy. .
Said, a restaurant owner for 12 years, Suplyd brings an e-commerce experience to the restaurant supply chain, optimizing assets, reducing waste for the entire ecosystem, while saving businesses time and effort. effort required to communicate and follow up with suppliers.
The start-up’s network of fulfillment centers provides Suplyd with insights into demand patterns and trends that inform storage, to ensure restaurants’ supply needs are met on demand and also avoid the waste from suppliers.
“In a normal scenario, restaurants have to go to market looking for suppliers for their SKUs, and then they start validating their prices. If the right match happens, which isn’t always the case, the risk execution exists, whether due to tight delivery windows, ordering restrictions, or quantity issues,” Said said.
“What Suplyd offers is a digital sourcing engine, a platform that makes it easy for restaurants to purchase supplies at dramatically less than open market prices, exposes restaurants to a wide range of SKUs, ensures execution through a single platform and simplifies the transaction and delivery process. It also benefits suppliers with real-time analytics and actionable insights into demand patterns and trends,” said he declared.
Suplyd says it currently serves 500 customers in Greater Cairo, having grown nearly 50% month-on-month since its launch. The startup, which is intensifying the competition for players like OneOrder, expects more significant growth over the next year, supported by its expansion plans aimed at serving the vast Egyptian HoReCa industry, which is supported by more than 400,000 restaurants.
Tarek Fahim, General Partner of Endure Capital, said: “Eating out is an important part of social life in the Middle East, but the supply chain that allows restaurants to serve customers is very fragmented. We are excited to support the team and platform Suplyd is building to digitize the restaurant supply chain, improve efficiency and reduce food waste in our communities.