EGYPT – Talabeyah, a Cairo-based startup that provides B2B e-commerce services for food and groceries, has raised a seven-figure pre-Seed round from strategic angel investors.
The startup, which was launched in July 2020 by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj, has leveraged its supply chain model and purchase experience by establishing a customer-centric business, due to its founders’ extensive experience in the FMCG industry.
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.
By allowing small retailers in Egypt to use Talabeyah’s digital platform to acquire and manage their inventory, the company that operates a tech-driven supply chain model aims to reduce their pain points.
“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.
“We are providing a tailored simple solution to a complex problem; making our clients one click away from their inventory with guaranteed next-day delivery, reliable customer service and a high service level, and giving the retailers the time to focus on growing their business and running their operations.”
Nassef added that the end-to-end model provides the FMCG suppliers with optimised cost to the service operation, as well as a bigger reach to retailers, direct marketing communication channels, and real-time data to enable them for better planning.
Talabeyah’s team experience in this industry gave it a lot of advantages, as it was able to grow a highly capital-intensive business, achieving a gross merchandise value of US$6 million with an initial investment of only US$180,000, generating an annualised revenue of 66X the amount capital injected in the company.
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