Suplyd, a procurement platform for hotels, restaurants and catering (HoReCa) companies in Egypt, has raised $1.6 million in pre-seed funding from Endure Capital, Seedstars, Camel Ventures, Falak Startups and a number of angel investors.
Founded in January this year, Suplyd’s B2B platform brings efficiencies to supply chain operations for companies in the food service industry by enabling digital purchasing, payment and order fulfillment.
The platform gives restaurants on-demand access to a wide variety of products, wasting man-hours searching for goods offline. It also ensures that the companies acquire the goods at competitive prices.
Suplyd plans to use the new funding to scale up and expand its technology inside and outside Cairo, as well as exploring other growth opportunities in the Middle East and North Africa (MENA) region in the near future.
“The restaurant supply chain is a global issue, with everyone currently exploring ways to cut costs and reduce waste. However, the Egyptian market is extremely large and untapped, and that is where we are focusing our efforts for the next phase before expanding to other global markets,” said Gohar Said, CEO of Suplyd who co-founded the company with Karim Selima and Ahmed ElMahdy. up founded. .
Said, a restaurateur for 12 years, Suplyd brings an e-commerce experience to the restaurant supply chain by optimizing assets, reducing waste for the entire ecosystem, while saving businesses the time and effort required to communicate and follow up with suppliers.
The start-up’s network of technology-enabled fulfillment centers provides Suplyd with insights into demand patterns and trends that inform supply, to ensure restaurants’ supply needs are met on demand and to prevent supplier waste.
“Under a normal scenario, restaurants would have to go to market to find suppliers for their SKUs and validate their prices. When the right match happens, which it doesn’t always, execution risk increases, whether it’s tight delivery windows, restrictions on order placement or quantity issues,” said Said.
“What Suplyd offers is a digital procurement engine, a platform that makes it easy for restaurants to buy supplies at significantly lower than market prices, exposes restaurants to a wide variety of SKUs, guarantees fulfillment through a single platform, and simplifies the transaction and the delivery process. It also benefits suppliers with real-time analytics and actionable insights when it comes to demand patterns and trends,” he said.
Suplyd says it currently serves 500 customers in Cairo, growing almost 50% month over month since launch. Stepping up competition for players like OneOrder, the startup expects greater growth in the coming year, bolstered by its expansion plans aimed at serving Egypt’s sprawling hospitality industry, which is supported by more than 400,000 restaurants.
Tarek Fahim, general partner at Endure Capital said: “Dining out is an important part of social life in the Middle East, but the supply chain that enables restaurants to serve customers is highly fragmented. We are excited to support the team and platform Suplyd is building to digitize the restaurant supply chain, improve efficiency and reduce food waste in our communities.”