Appetito, a Cairo-based grocery delivery startup, has raised a US$450,000 seed funding round to help it expand across Egypt and beyond.
Formed in March 2020, Appetito operates through a “dark stores” model, where products are sourced from manufacturers, stored in mini fulfilment centres, and then delivered to household customers.
The company started with a wide range of private label products serving all areas of Cairo, Giza, and Alexandria with next-day and pre-scheduled deliveries, and has recently expanded its product portfolio to include more than 1,000 SKUs from well-known consumer brands, available to customers in less than 60 minutes in selected areas.
The funding round, which will help Appetito scale nationally and internationally, was raised from a group of Saudi Angel investors led by Ahmed Al Alola, an early-stage investor who was one of the early backers of Nana and Sary; the Afropreneurs Fund, an early-stage technology fund that has previously backed the likes of Andela, Flutterwave and Trella; and Jedar Capital.
“We’re proud of what we have achieved in just a few months from our launch. We’re privileged to have such prominent investors backing us. With their support and the team we’re building, I’m confident we will be in a leading position in the global race of grocery delivery,” said Appetito founder and chief executive officer (CEO) Shehab Mokhtar.