Egypt’s OneOrder secures $16m in Series A to enter new Gulf markets
TLDR
- Egypt-based logistics startup, OneOrder, secures $16 million in Series A funding led by Delivery Hero Ventures
- Funds to aid expansion into GCC region, focusing on customer financing solutions and platform enhancements
- OneOrder tackles supply chain challenges in African and MENA regions, improving price transparency, stock access, and business growth options
OneOrder, an Egypt-based logistics startup, raised $16 million in equity and debt in a Series A round. The funds will support its expansion into the Gulf Cooperation Council (GCC) region in late 2024, focusing on customer financing solutions and platform enhancements.
The round was led by Delivery Hero Ventures, with participation from Norrsken22, Egypt-based Nclude, and A15. This follows a $3 million seed round to strengthen its in-house operations in February 2022.
OneOrder addresses supply chain challenges in African and MENA regions, where the hotel, restaurant, and catering industries are fragmented and rely on manual processes.
Points clés à retenir
Supply chains in Africa and the MENA region are fragmented and rely on manual processes involving multiple stakeholders. This leads to limited price transparency, lack of access to quality stock-keeping units (SKUs), high wastage, high storage costs, and limited financing for business growth. The Egypt foodservice market is projected to be worth $9.04 billion in 2024 and $18.14 billion by 2029, with a compound annual growth rate (CAGR) of 14.94% over the forecast period (2024-2029).
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