Mahaseel Masr, the MENA region’s first B2B digital fresh produce platform, has raised funding from EICC, the investment arm of National Holding.
Mahaseel Masr, the region’s first B2B digital fresh produce platform, has raised funding from Emirates International Investment Company (EIIC). EIIC is the strategic investment vehicle of National Holding, an Abu Dhabi-based group with investments across leading sectors in the UAE and MENA region. Since the early 1990s, EIIC has been a significant investor in Egypt, the MENA region and globally. The funds will be used to accelerate the development and implementation of the Mahaseel Masr agri e-commerce platform.
Mahaseel Masr: Connecting farmers to their customers
Mahaseel Masr is a smart digital platform built with the goal of connecting Egyptian farmers with their customers both locally and internationally. The platform provides a wide range of digital tools that allow farmers to conduct transactions online in a reliable, secure manner, while ensuring the farms’ traceability through geospatial farm profiling.
The funds will be used to allow Mahaseel Masr to expand its network and will ensure the availability of mid-term capital. The company seeks to expand its platform and its leadership position across the entire ecosystem while upholding international standards of farm profiling and coding, traceability, secure payments, logistical operations, and transparent communication between farmers and their customers.
Trading produce with a single click
Mahaseel Mahaseel aims to change the face of the region’s agriculture industry by allowing the trading of fresh produce with the click of a button. This will allow for a shorter, more cost-effective supply chain. According to Mahaseel, fruit and vegetables account for 15% of Egypt’s GDP.
“We see a strong potential for a growing cross-border fresh produce trade, in line with the strategic objectives of the Egyptian government to multiply Egypt’s agriculture exports, while striving to minimize cost, maximize value and enhance quality. With an eye for global expansion, EIIC believes that Mahaseel’s e-commerce platform will remodel how the fresh produce trade industry operates with digital tools that cater to the pressing demands for stable and secure supply chains in light of the recent changing global scene dynamics,” said Joseph Iskander EIIC Head of Investments.
“Demand for first-rate fruits and vegetables at competitive prices is showing strong growth, driven by a global rapid population increase and raised digital awareness, in addition to a demanding need for global supply chain stability. With the support of EIIC, we will be able to achieve our mission to expand our geographic presence while crowning our portfolio with advanced technological and financial value added services. This strategic partnership will also realize our mission to simplify the lengthy supply chain and empower farmers’ inclusion into the digital transformation process that has revolutionized people’s day-to-day activities while ensuring fair trade for growers across the world,” said Mohamed Abdel Rahman, Mahaseel CEO.
African and MENA agritechs booming
Agritech is a rapidly growing sector across the MENA region. Agritech Pure Harvest Smart Farms was the region’s most funded startup of 2022, raising USD 387 million.
Over the past five years, African agritechs have raised USD 1.1 billion.