Opio raises $300K in Seed funding round
Egypt: Egypt’s Opio, a DTC (Direct to Consumer) everyday women’s wear brand, has raised a $300K Seed funding round from AUC Angels, local and regional angel investors, along with follow-on funding from Flat6labs Cairo.
Launched in 2017, Opio started as a digitally native vertical, capitalizing on the long-abandoned Egyptian apparel industry and the surge in online shopping demand. Opio commissions white label and toll manufacturing women’s wear apparel to different manufacturers and offers it to its ever-growing customer base at competitive pricing through its digital platform.
Opio states that they cater to people’s desire for simplicity, seeking to eliminate the hassle of researching brands and choosing from numerous options, to make the shopping experience more effortless. The company develops strong ties with local manufacturers, markets, and distributes their own products without using middlemen, which enables them to reduce costs, interact directly with consumers, and provide a seamless start-to-finish buyer’s experience.
Shady Mokhtar, Co-Founder, and CEO of Opio said, “What I see in this market is a huge supply-demand imbalance. Egypt has thousands of manufacturers with exceptional manufacturing capabilities yet, a total lack of modern-day customers requirements, up to date fashion trends, and marketing know-how, specifically in digital marketing practices. On the other hand, we’ve witnessed some jaw-dropping internet penetration in Egypt the past 10 years, a hyper exposed gen Z, with very limited online offerings.”
Over the last few years, Opio’s focus was to develop strong supply chain capabilities and bring onboard a team with a diverse caliber, from digital marketing specialists to tech experts, as well as fashion design and creative teams. The company acquired talents from reputable e-commerce companies to gain a deeper insight into scaling.
