Qara, an Egyptian startup, aligns its innovative solutions with Saudi Vision 2030 as it enters a new phase of international growth.
Egyptian supply chain technology startup Qara has successfully raised $2.6 million in funding, marking a significant milestone as it prepares to expand operations into Saudi Arabia. This move highlights Qara’s rising prominence in the regional tech landscape and its potential to transform supply chains through innovation and digital solutions.
Revolutionizing Supply Chain Operations
Qara provides a cutting-edge digital platform that ensures product authentication and traceability across the supply chain. Its tools empower manufacturers to optimize B2B2C marketing and distribution by connecting with markets more effectively and leveraging valuable insights for data-driven decision-making.
“Our aim is to revolutionize manufacturers’ B2B2C marketing and distribution capabilities through innovative digital solutions. Qara’s team believes in the economic and social value our platform brings by verifying product authenticity, providing supply chain visibility, eliminating redundancies, and delivering better outcomes for every participant in our ecosystem,” said Hassan Abouzeed, co-founder and CEO of Qara. Khaled Hassan is Qara’s other co-founder and currently serves as the company’s CTO.
Since its launch, Qara has partnered with over 35 manufacturers and suppliers, authenticating more than 28 million product units. The platform has also connected these businesses with over 50,000 users across Egypt, Saudi Arabia, and Kenya, further showcasing its capacity to drive value.
Aligning with Saudi Vision 2030
The expansion into Saudi Arabia is a strategic step that aligns Qara’s innovative offerings with the Saudi Vision 2030 initiative, which emphasizes technology-driven solutions to foster economic growth and value creation.
“I believe the challenges we’re addressing meet a significant global demand. After three years of a successful product-market fit in Egypt, Qara is now ready for international expansion. We are excited that our first step is into the Kingdom of Saudi Arabia, where what we do aligns perfectly with the Saudi Vision 2030 objectives to foster value creation through innovation and technology,” said Abouzeed.
Leveraging the NTDP Relocate Initiative
Qara’s entry into Saudi Arabia will be supported by the National Technology Development Programme’s (NTDP) Relocate Initiative, which provides valuable incentives and resources for tech companies entering the Saudi market. This initiative strengthens Qara’s ability to establish a foothold in the kingdom and further scale its solutions.
A Promising Future for Supply Chain Innovation
Qara’s $2.6 million funding round underscores its position as a leader in supply chain technology. The company’s ambitious vision, bolstered by the expansion into Saudi Arabia, is poised to redefine supply chain management in the region while fostering economic and technological growth.
As Qara continues to innovate and expand, its journey reflects the growing synergy between Africa and the GCC, driving trade, investment, and technological advancement.
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