Suplyd, an Egypt-based startup that digitises supply chain operations for the MENA region’s hotels, restaurants, and catering (HORECA) industries, has raised a US$1.6 million pre-seed funding round to help it scale faster.
Founded by Gohar Said, Karim Selima, and Ahmed ElMahdy, Suplyd is a solution that was created to address the daily struggles faced by HORECA, one of the fastest-growing segments in the MENA region’s economy. The startup has developed a smart and reliable platform to digitise supply chain operations and bring efficiency to the MENA market.
The US$1.6 million pre-seed round was funded by Endure Capital, Seedstars, Camel Ventures, Falak Startups, Outlierz, Plus Ventures, Fort, and Alex Angels, alongside a handful of strategic angel investors, and will be used to help Suplyd scale more quickly.
“I have been in the restaurant industry for almost 12 years, and the supply chain is a nightmare for most of the operators. To make up for all the inefficiencies you are always forced to either accept the fact that some of your menu items are not available or procure your requirements from the nearest market at a higher cost,” said Gohar Said, CEO of Suplyd. “After opening my restaurant in early 2021, I talked with Karim and Mahdy and all it took was one simple question: what if technology took over?”
In an extremely fragmented market, Suplyd streamlines the fulfillment process of supplies by creating a B2B platform that facilitates order procurement, fulfillment, and payments. Through its platform, restaurants get access to a wide range of SKUs as well as a simplified transaction and delivery process. On the other hand, Suplyd is also able to support suppliers through its network of tech-enabled fulfillment centres, which offers them real-time analytics and actionable insights concerning demand patterns and trends.
“Eating out is a major part of social life in the Middle East, but the supply chain that enables restaurants to serve customers is highly fragmented. We are thrilled to support the team and the platform Suplyd is building to digitise the supply chain for restaurants, improving efficiency and reducing food waste in our communities,” said Tarek Fahim, general partner at Endure Capital.