EGYPT – OneOrder, Egypt’s new logistics startup, has closed a US$1 million pre-seed round to solve Egyptian restaurants’ supply chain inefficiencies in Egypt.
The funding round was led by A15, the leading MENA venture capital firm, and renowned as one of the most prominent backers of early-stage start-ups in the region.
OneOrder was founded by Tamer Amer to address the major inefficiencies faced by Egypt’s restaurants when sourcing supplies.
The platform means Egyptian restaurants can buy all their needs from one application, with reliable quality, prices, and timing.
The latest funding will help the platform access the significant market opportunity in Egypt of 45,000 registered restaurants and 250,000 unregistered, all working and consuming supplies.
“Given Egypt’s flourishing restaurant industry and the challenges it faces caused by a fragmented supply chain, OneOrder offers a much-needed technology-enabled solution at the perfect time,” said Tamer Amer, founder, and CEO of OneOrder.
“We are excited to partner with Tamer to solve one of the main challenges the Food & Beverages industry faces in the MENA region,” said Karim Beshara, General Partner at A15.
The platform is interacting on a regular basis with a number of small, fragmented suppliers and vendors from whom they secure their meat, vegetable, and equipment to address structural problems in the sector.
The sector experience poor inventory management that creates a fractured relationship between the restaurant and its supplier.
This results in over/under-ordering, spoilage, waste, and supply uncertainty, affecting customer satisfaction and the restaurant’s reputation.
The platform offers an optimized inventory management system that can help a restaurant gain full visibility over stock and resolve many of the bottlenecks.
The latest research by Fitch Ratings, the global rating agency, forecasts 5.3% GDP growth in Egypt for 2021-2023, driven by strong private consumption and increasing tourism.
Egypt is also building new cities such as New Alamein, with hotels and commerce expanding across the country, all of which are favorable for the F&B sector.
There are similar restaurant supply chain inefficiencies in other countries in MENA and OneOrder aspires to, over time, expand its proposition geographically across the region.
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