The Week in eCommerce: Week 33 (August 15 – 21, 2021)
Table Of Contents
Every week, the eCommerce business benefits from new and quick changes: greater financial backing, funding, and investments, as well as new advancements to assist the industry and expand its reach to many new nations. As you read the following few paragraphs, we’ll go over all of this and more, so you can remain up to date on everything that’s been going on in the world of eCommerce and digital marketing!
More Funds to Support eCommerce!
1. Series “A” Financing for Amazon’s “D1” Brands
Millions of dollars are still being poured into Amazon and its affiliates by investors: D1 Brands, which acquires Amazon original sellers, has secured $123 million in Series A fundraising, stating that it would use the funds to acquire more original vendors.
The round was led by CoVenture and Crossbeam Venture Partners with additional investment from ID8. D1 Brands has declined to reveal its valuation or sales, but co-CEO and co-founder Yaz Malas stated, “The company is achieving significant sales and profits and is expected to reach $100 million in revenue by the end of 2021.
2. $175M for Kuwaiti Platform “MyHome”
Kuwait-based home services platform “MyHome” has raised $1.75 million in its latest funding round, valuing the company at $12.5 million.
Launched in 2018, “MyHome” is a home services platform that connects users with local technicians, service providers, and suppliers. The startup offers its online services in over 30 different service categories, ranging from air conditioning maintenance and hourly cleaning to car and pet wash services.
In this context, co-founder Abdullah Marafie stated on the opportunity:
“Home services are a very fragmented and unregulated market in terms of price clarity and difficulty in ensuring quality and standardization of services. In addition, the market is mostly offline, which is an enormous opportunity for us as the market is slowly shifting online, making “MyHome” well-positioned enough to accommodate this demand.”
3. “MaxAB” Raises $55M in category “A” Funding,
“MaxAB”, the B2B e-commerce platform for food and grocery retailers, has raised one of the largest “A” funds on the African continent worth $40 million.
The firm secured an additional $15 million from current investors on August 25, bringing the total Series A financing to $55 million.
Founded in 2018 by Bilal Al-Maghribal and Mohamed Ben Halim, the Egyptian startup manages the purchasing and delivery of groceries to stores. Store owners can use the platform to purchase merchandise, order delivery, or logistics to move merchandise, as well as access the customer support team.
In this context, the startup stated it plans to use this huge funding to expand further and establish a presence within the MENA region. The startup also intends to launch new product offerings and grow its team.
An Overview of the Most Significant eCommerce Developments and Events in the Arab World
A 257% Increase in Bahrain’s Online Services Transactions
Bahrain has witnessed a nearly fourfold jump of 257% in government eServices revenue during the first half of 2021 to exceed BD 200 million compared to the same period last year, which shows a significant increase in the adoption of online access.
The Information and eGovernment Authority stated in its report for the first half of 2021 that this enormous increase shows the role of electronic services in addressing the demands of citizens, government agencies, and company owners, particularly during the Covid-19 pandemic epidemic.
The number of financial transactions executed through various electronic channels in the Kingdom of Bahrain in the first half of 2021 exceeded 1.6 million dinars, which is double the number recorded during the same period last year, showing great confidence in the quality of services provided electronically.
Talabat Is Dubai Expo 2020’s Official Food Delivery Provider
Talabat, the Arab region’s leading food delivery and express trade platform (“q-commerce”), has been announced as the official provider of food delivery for Expo 2020 Dubai to be held from October 1, 2021, to March 31, 2022.
Under the agreement, Talabat will meet customers’ needs in both dining and delivery, with orders delivered to fixed locations throughout the Expo site using sustainable e-scooters.
“We can’t wait to showcase the future of new food delivery experiences in the Arab world and support the UAE in welcoming the world in a celebration like no other,” said Tommaso Rodriguez, CEO of Talabat.
Floward Launches in Cairo
Floward, the largest online flower and gift delivery platform in the GCC and London, launches its services in Cairo, Egypt in the first half of August 2021, making it the eighth country and the twenty-second city to launch in. Floward has launched its operations only in Cairo with the possibility of gradually expanding to other cities and regions within the country.
In this context, the company’s CEO, Mr. Abdulaziz Al-Loghani, said: “After establishing our position as the preferred destination for flowers and gifts in the GCC and London, UK, we are now very excited to expand into the MENA region starting with Egypt.”
He continues: “We are always looking to expand into large markets, and we have great confidence in the Egyptian economy where the flower industry is estimated at $300 million, which makes it a very promising and attractive market to launch our services as well as provide job opportunities for Egyptian youth and talents.”
New Laptops to Support eCommerce in Dubai
“Honeywell” (NASDAQ: HON) in Dubai has announced the release of its latest line of laptops, which are designed for employees who choose, fill, sort, and distribute eCommerce orders, allowing for the smooth flow of the retail supply chain from factory to the customer.
“Honeywell”’s new CT45 and CT45XP laptops are powerful, multi-purpose productivity tools that enable mobile workers to perform their tasks efficiently and access business-critical data. These portable devices are used by workers throughout the changing retail supply chain, including logistics and warehousing through to the delivery phase.
“We designed the CT45 to be the ultimate tool in the remote worker’s toolkit to engage more with consumers and increase sales conversion while reducing costs,” said Kevin Dehoff, President of “Honeywell”.
