Egypt's Suplyd secures $2 million to boost the supply chain for restaurants, surpassing just distribution.
Suplyd, a Cairo-based digital platform founded in 2022, is on a mission to revolutionize Egypt's restaurant supply chain. The company, which serves as a one-stop-shop for restaurant supplies, has recently secured $2 million in a pre-Series A funding round.
The funding round was led by 4DX Ventures, Camel Ventures, and Plus VC, with participation from Seedstars and existing shareholders. This investment will support Suplyd's mission to expand into untapped areas across Egypt and accelerate the development of new service verticals.
Suplyd's platform directly connects restaurants with suppliers, simplifying procurement workflows and reducing costs. The company aims to enhance its platform beyond procurement, building a full-stack infrastructure for Egypt's $10 billion HORECA sector. This expansion will enable Suplyd to manage day-to-day inventory needs with greater speed, visibility, and reliability.
Since a US$1.6 million pre-seed round in 2022, Suplyd has grown nearly 20x in terms of restaurants served and the value of goods delivered. As of now, Suplyd serves over 5,000 restaurant customers.
Peter Orth, partner at 4DX Ventures, expressed his pride in being an early backer of Suplyd. He believes that Suplyd is well-positioned to become a category-defining player within the region.
Suplyd's early traction, strong supplier relationships, and diversified revenue streams reinforced the investors' conviction. The company, led by Gohar Said (Founder and CEO), Karim Selima, and Ahmed ElMahdy, intends to expand its reach within Egypt with the funds. Gohar Said stated that the company is here for the long haul and has ambitious plans for further growth.
4DX Ventures believes that Suplyd's focus on building infrastructure for restaurant operations, focusing on procurement, will play a crucial role in solving persistent supply chain inefficiencies with technology-driven transparency and reliability.
In conclusion, Suplyd's growth trajectory, ambitious expansion plans, and strong investor backing make it an exciting player to watch in Egypt's restaurant industry. The company's commitment to simplifying backend operations for restaurant owners and improving supply chain predictability with real-time analytics and a fully digital trail will undoubtedly contribute to a more efficient and sustainable restaurant ecosystem.
[1] Suplyd Press Release, Suplyd Secures $2 Million Pre-Series A Funding
[2] TechCrunch, Suplyd Raises $2 Million to Expand Procurement Platform for Egypt's Restaurants
[3] VentureBeat, Suplyd Announces $2 Million Pre-Series A Funding to Expand into Untapped Markets
[4] MENAbytes, Suplyd Closes $2 Million Pre-Series A Round to Expand Procurement Platform for Restaurants in Egypt
[5] Arabian Business, Suplyd Secures $2 Million to Revolutionize Egypt's Restaurant Supply Chain
The newly acquired $2 million investment in Suplyd, a Cairo-based digital platform, will be used to expand the company's operations across untapped markets in Egypt and accelerate the development of new service verticals, merging finance, business, and technology. With this expansion, Suplyd intends to facilitate day-to-day inventory management for restaurants with greater speed, visibility, and reliability, revolutionizing the $10 billion HORECA sector.
The focus on building technology-driven infrastructure for restaurant operations and solving persistent supply chain inefficiencies with transparency and reliability positions Suplyd as a category-defining player within the region, making it an exciting player to watch in Egypt's restaurant industry.
