216 Capital invests in Franco-Tunisian retail startup Winshot

Daba Finance/216 Capital invests in retail startup Winshot

STARTUP VENTURE CAPITALDecember 3, 2023 at 3:10 PM UTC

Tunisian retail-tech startup Winshot has successfully secured a six-figure funding round with the lead investment coming from the Tunis-based VC firm 216 Capital, aimed at improving operational efficiency and enhancing the overall customer experience for brands, retail chains, and franchise leaders.

Winshot is dedicated to addressing the intricate challenges within retail distribution networks through a dual focus. Firstly, it aims to foster stronger connections, deeper involvement, and heightened engagement among internal teams operating both in the field and at the point of sale. Secondly, it employs real-time monitoring to ensure the seamless application of processes and adherence to brand standards at every point of sale within a distribution network.

Winshot plans to use these funds to establish high-caliber marketing and sales teams, solidifying a robust market presence in both France and Tunisia. Dhekra Khelifi, partner at 216 Capital, expressed confidence in Winshot's potential and commitment to supporting their journey to success, citing the startup's fantastic team and a product that addresses a real need in a promising market as key reasons for their investment.

Key Takeaways

The Tunisian retail sector has experienced consistent growth, surpassing 10% in recent years, and this upward trajectory is anticipated to persist. In 2020, modern retail food sales reached approximately $2 billion, with modern distribution contributing a fifth of the total retail sales. While the traditional distribution network, centered on over 250,000 neighborhood grocery shops scattered across the country, continues to be the dominant force in the Tunisian market, there has been rapid growth in modern distribution channels over the past decade. This growth has been fueled, in part, by joint ventures with foreign investors, predominantly of French origin. The expansion of hypermarkets, supermarkets, and the establishment of new shopping centers has been notable, with the number of large surface outlets increasing from 200 in 2010 to 655 in 2020. However, particularly in the central regions of the country and outside urban areas, modern retail distribution is not as well-developed. Consequently presenting a marketing opportunity for startups like Winshot.

Winshot

216 Capital

Venture Capital

Retail

Tunisia