In order to grow more quickly, Suplyd, an Egypt-based firm that digitalizes supply chain operations for the MENA region’s hotels, restaurants, and catering (HORECA) industries, has acquired US $1.6 million in pre-seed capital.
Suplyd is a solution that was developed by Gohar Said, Karim Selima, and Ahmed ElMahdy to meet the everyday challenges encountered by HORECA, one of the fastest-growing economic sectors in the MENA area. The business has created a clever and trustworthy platform to digitise supply chain activities and increase efficiency in the MENA region.
Endure Capital, Seedstars, Camel Ventures, Falak Startups, Outlierz, Plus Ventures, Fort, and Alex Angels, together with a few more strategic angel investors, provided the US $1.6 million pre-seed round, which will be used to help Suplyd grow more swiftly.
“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?”
By developing a B2B platform that makes order procurement, fulfillment, and payments easier in a highly fragmented industry, Suplyd simplifies the supply fulfillment process. Restaurants have access to a broad selection of SKUs through its platform, as well as a streamlined ordering and delivery system. On the other side, Suplyd is also able to assist suppliers through its network of technologically advanced fulfillment facilities, which provides them with real-time analytics and useful information on 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.