Egypt-based Suplyd secures $2 million in pre-Series A funding, aiming to expand its restaurant supply platform
In a recent funding round, Cairo-based digital procurement platform Suplyd secured $2 million in pre-Series A funding. The startup, founded in 2022 by Gohar Said, Karim Selima, and Ahmed ElMahdy, aims to expand its digital presence beyond traditional procurement in Egypt's multi-billion-dollar HORECA (hotels, restaurants, and cafes) supply chain.
Suplyd's platform already works with over 5,000 restaurants across Egypt, offering access to more than 1,000 products from over 200 brands. The platform helps restaurants reduce waste, cut costs, and improve supply chain predictability with a fully digital trail. In fact, Suplyd boasts a 100% successful order fulfillment rate while providing real-time analytics and procurement insights.
With the new funding, Suplyd plans to expand its reach within Egypt, targeting a wider adoption across the country's restaurant ecosystem. The startup also intends to enhance its platform with new service verticals that improve backend operations for restaurants. These new verticals are designed to streamline processes and offer additional operational tools to hotels, restaurants, and cafes.
The funding round was led by 4DX Ventures, Camel Ventures, and Plus VC, with participation from Seedstars and existing investors. Hasan Haider, Founder and Managing Partner at Plus VC, has stated that Suplyd has become a key enabler in the digital transformation of Egypt's F&B sector. Peter Orth, Partner at 4DX Ventures, believes Suplyd is well-positioned to become a category-defining player within the region.
The new funding will help accelerate technology development and operational scale in Egypt’s rapidly adopting B2B supply chain market. Suplyd's strong supplier relationships and diversified revenue streams, built since its $1.6 million pre-seed round in 2022, will also be leveraged to address the traditionally fragmented procurement process in the market.
As Suplyd continues to scale, it is poised to revolutionise the HORECA sector in Egypt, making it more efficient, sustainable, and transparent. The startup's ambitious expansion plans are a testament to its commitment to digitising procurement supply chain processes and becoming a leading player in the region.
[1] Suplyd Press Release, "Suplyd Raises $2 Million in Pre-Series A Funding to Digitally Transform Egypt's HORECA Supply Chain," 2023. [2] 4DX Ventures Press Release, "4DX Ventures Leads $2 Million Pre-Series A Investment in Suplyd," 2023. [3] Camel Ventures Press Release, "Camel Ventures Invests in Suplyd to Accelerate Digital Transformation in Egypt's HORECA Sector," 2023. [4] Plus VC Press Release, "Plus VC Invests in Suplyd to Support its Expansion in Egypt's HORECA Market," 2023. [5] Seedstars Press Release, "Seedstars Participates in Suplyd's $2 Million Pre-Series A Funding Round," 2023.
- As Suplyd plans to expand its platform with new service verticals, it aims to reinforce its presence in Egypt's business sector, particularly within the HORECA industry, by providing technology-driven solutions that streamline backend operations and improve efficiency.
- With the acquired funds, Suplyd intends to invest in technology development and operational scale, positioning itself as a key player in Egypt's rapidly evolving finance sector, while improving the sustainability and transparency of the procurement process in the HORECA industry.
