Egypt-based Suplyd, a startup that digitizes supply chain operations for the MENA region’s hotels, restaurants, and catering (HORECA) industries, has raised $1.6 million in a pre-seed round that includes Endure Capital, Seedstars, Camel Ventures, Falak Startups as key participants, it said in a press release sent to Technext today.
The company which was founded by Gohar Said, Karim Selima, and Ahmed ElMahdy, in January this year said that its goal is to “empower the supply chain of Egypt’s food and beverages sector by providing intuitive digital solutions that would bridge the gap between restaurant operators and suppliers.”
Gohar Said one of the co-founders and CEO said that he started the company due to the hot-button issues he faced in his almost twelve years in the restaurant business.
“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,” Gohar Said, commented. “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?”
Ahmed ElMahdy, another co-founder and COO of Suplyd said that the digitalisation of the supply chains in the HORECA industry is the next step towards building efficient and dependable systems.
“What sets the HORECA business apart from regular retail business are the sensitivity of most of its goods, the fast product flow throughout the whole supply chain, and the limited delivery windows for the operators,” Ahmed ElMahdy said.
“Suppliers have to streamline their internal operations to cater to restaurants’ requests and fluctuating demands. Having to do this in a space where most transactions are handled manually is nearly impossible. Suplyd offers a smooth purchasing experience, clarity of product availability, guaranteed delivery dates as well as transparent pricing. Coupling that with its useful analytics, reporting, and digital records enables suppliers to handle their complex internal logistics and optimize their assets. That is just the start of what Suplyd is here to offer,” he added.
Karim Selima, the CPO and a co-founder of Suplyd added that by digitalising the supply chain the industry players are in a better position to track the movement of orders faster.
“In a market as huge as the food and beverage sector in the Middle East, fragmented methods of managing the supply chain processes result in significant waste, which has a huge negative impact on the economy, and costs time and money,” he said.
“Using technology to solve a problem that affects one of the region’s fastest-growing industries is a fascinating challenge. Suplyd saves users’ time and money and takes advantage of the fact that our technology can handle even the most complex issues that arise along the supply chain, from ordering through warehousing to tracking and delivery,” he added.
Tarek Fahim, General Partner at Endure Capital, who participated in the round said that Endure Capital is thrilled to support Suplyd in its quest to digitalise the supply chain.
“Eating out is a major part of social life in the Middle East,” he said. “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 digitize the supply chain for restaurants, improving efficiency and reducing food waste in our communities.”
Patricia Sosrodjojo, Partner at Seedstars International Ventures. another participant commented: “We are excited to partner with Suplyd to drive innovation in Egypt’s food and beverage procurement. The Food and beverage supply chain remains highly fragmented with unreliable and costly delivery, especially for smaller restaurants.”
She added that “Suplyd aims to revolutionize the food supply procurement process, enabling restaurants to improve their bottom line and grow their operations. With their extensive experience, the Suplyd team is well-positioned to create real impact for the food and beverage sector of Egypt.”
Ahmed Hazem, Managing Director at Falak Startups another participant said: “Every sector in every vertical is getting its own share of disruption one way or another, not by one solution, rather a variety. Our bet, in this case, is no exception to our logic, bet on the most capable team tackling the problem, in this case the brilliant co-founders behind Suplyd. We have high expectations and a ton of trust in this team.”
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