Nclude and returning investor A15 have both led the USD 3mn seed round for OneOrder, an Egyptian B2B marketplace. Also participating in the round is Delivery Hero Venture.
The USD 3mn seed round brings the total raised to USD 10.5mn—USD 1mn for its pre-seed round and USD 6.5mn in working capital from local financial institutions.
The startup will use its latest investment round to bolster its in-house technology and sales teams as well as invest in proprietary technology. It also plans to expand its warehouse footprint in Egypt and the wider MENA region.
OneOrder was founded by Tamer Amer and Karim Maurice to enable restaurants to source food and other essentials from local suppliers—it operates in a market that is comprised of 400,000 restaurants which spend USD 40bn annually. It is using technology to solve supply-chain issues such as price fluctuations, lack of product availability and a lack of working capital to name a few. These issues, according to the company, mean restaurants spend between 6-7% of their revenue to stabilise the supply chain.