Egyptian startup Suplyd raises USD 1.6 million in order to further digitize the country’s HORECA supply chain.
Suplyd, an Egypt-based startup that digitizes supply chain operations for the hospitality industry across the country, has announced a pre-seed round of USD 1.6 million. Investors include Endure Capital, Seedstars, Camel Ventures and Falak Startups alongside other local and regional investors.
Suplyd: Addressing challenges in the HORECA industry
Founded by Gohar Said, Karim Selima, and Ahmed ElMahdy, Suplyd seeks to solve the various challenges faced by Egypt’s hotels, restaurants, and catering(HORECA) companies. According to the company, HORECA is one of the fastest-growing segments in the MENA region.
Suplyd has developed a platform to digitize supply chain operations and bring efficiency to the market. Suplyd provides a reliable, simple source of supplies to HORECA businesses by focusing on restaurants’ first-mile operations. The company’s goal is to empower the supply chain of Egypt’s F&B sector by providing intuitive digital solutions that would bridge the gap between restaurant operators and suppliers.
A B2B platform and fulfillment centers
Suplyd streamlines the supply fulfilment process by creating a B2B platform that facilitates order procurement, fulfilment, and payments. Through the platform, restaurants get access to a wide range of SKUs as well as a simplified transaction and delivery process.
The startup also supports suppliers through a network of tech-enabled fulfilment centers. Clients can access real-time analytics and actionable insights concerning demand patterns and trends. This enables suppliers to minimize waste, utilize industry assets, bring transparency to the market, and resolves the uncertainty of restaurants receiving their supplies.
“What sets the HORECA business apart from regular retail business are the sensitivity of most of its goods, the fast product flow throughout the whole supply chain, and the limited delivery windows for the operators,” added Ahmed ElMahdy, COO of Suplyd. “Suppliers have to streamline their internal operations to cater to restaurants’ requests and fluctuating demands. Having to do this in a space where most transactions are handled manually is nearly impossible.
“Suplyd offers a smooth purchasing experience, clarity of product availability, guaranteed delivery dates as well as transparent pricing. Coupling that with its useful analytics, reporting, and digital records enables suppliers to handle their complex internal logistics and optimize their assets. That is just the start of what Suplyd is here to offer,” he said.
Expansion and development of tech
Suplyd intends to use the funds to invest further in their technology, grow their team, and to expand their operations to cover more areas. The company’s pre-seed round was supported by Outlierz, Plus Ventures, Fort, and Alex Angels, and other strategic angel investors.
Investments in African foodtech and logistics startups continue to rise, and GGC companies continue to invest in various areas within Africa’s traditional logistics industry.