Cairo-based startup Talabeyah, which runs a food and grocery B2B e-commerce and distribution platform, has raised US$1.1 million in funding from a group of angel investors to help boost its strong early growth.
Founded by Karim Nassef, Amr Abbas, Khaled Hussein and Adel Hodroj in July 2020, Talabeyah provides a tailored simple solution for retailers, allowing them to order inventory in one click.
Its end-to-end model also provides FMCG suppliers with bigger reach to retailers, direct marketing communication channels, and real-time data to enable them for better planning.
Talabeyah achieved a cumulative gross merchandise value of US$6 million in its first 15 months of operations, with an initial investment of around US$180,000, and has now banked another US$1.1 million as it looks to grow faster.
“This is a highly fragmented market with multiple layers that leads to high inefficiencies and low service levels. Our aim is to disrupt and digitise this informal market by leveraging technology and innovative supply chain,” Nassef said.
Barakat said the round will help scale the startup’s operations, further build the technology, and leverage the use of AI and machine learning algorithms utilising the collected data to enhance the customer experience and drive efficiencies through the value chain.
“We believe there is still a lot of value and innovation to be added to the different layers of this market to create a better ecosystem, and we are on a mission to do that,” he said.