Egyptian grocery delivery startup Appetito raises $450k seed round

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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.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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