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Egyptian Startup OneOrder Secures $16 Million in Series A Funding Round
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Egyptian Startup OneOrder Series A funding: OneOrder, a leading Egypt-based logistics startup, has raised $16 million in equity and debt in a Series A round. This will ensure the startup expands into the Gulf Cooperation Council (GCC) region in the coming months.
It will enable development of customer financing solutions, including cards, and enhance the platform.
Egyptian Startup OneOrder Series A funding
The company revealed that the expansion would enhance coverage and capacity. It will provide individuals and businesses with access to advanced mobile and digital finance services and improve connectivity.
The expansion announcement came when they revealed their intention to invest in new towers in April 2024. The company’s dedication to improving and expanding its services has solidified its reputation as a leader in the industry.
Also Read: VMS Bridge Programme Announces 10 Egyptian Startups as Winners of its First Edition
The funding round, led by Delivery Hero Ventures, with participation from Norrsken22, includes existing investors Nclude and A15. This comes after OneOrder’s successful $3 million Seed round in December 2022.
About The Egyptian Startup, OneOrder
OneOrder was founded by CEO Tamer Amer in 2022. Tamer has over two decades of experience in the restaurant industry, and CTO Karim Maurice, the founder of online restaurant-reservation service Cube. It helps restaurants order their food supplies online, resolving the fragmented supply chain problems that often lead to unpredictable prices, waste, quality issues, and storage costs.
By using the platform, restaurants can avoid dealing with multiple suppliers and order only what they need for next-day delivery. This reduces waste and eliminates the need for warehouses.
The platform tackles issues including product availability, price fluctuations, consistency, delivery efficiency, and access to working capital.
With over 150 suppliers and over 1,000 clients, the startup claims to have introduced an AI-assisted system that has improved its platform, saving customers 60% of their time and money in the last six months.
Tamer Amer, CEO of OneOrder, stated that the startup is addressing supply chain challenges in many African and MENA regions, as the hotel, restaurant, and catering (HoReCa) industries are highly fragmented and rely on manual processes involving numerous stakeholders.
This results in limited price transparency, insufficient access to quality stock-keeping units (SKUs), high waste and storage costs, and limited financing options for business growth.
Tamer explained, “Traditionally, restaurants and hotels juggle interactions with countless suppliers, receiving multiple deliveries daily, causing disruptions and inventory shortages.”
Expectancy Of Egyptian Startup OneOrder Series A funding
The Egypt foodservice market is expected to be worth $9.04 billion in 2024 and $18.14 billion by 2029, growing at a CAGR of 14.94% over the forecast period (2024-2029).
Founded in 2022 by Tamer Amer and Karim Maurice, OneOrder leverages technology to connect restaurants directly with local suppliers for their daily procurement needs.
Brendon Blacker, Managing Partner at Delivery Hero Ventures, expressed optimism about the investment’s impact. He said, “This funding will empower OneOrder to expand its services geographically, replicating the success it has achieved in Egypt across the GCC region,” Blacker stated.
