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Startups getting investments captured the majority of e-commerce news this week as entrepreneurs in the Middle East aspire to expand their businesses and services.
In this report, we highlighted the news of this week and the volume of investments raised by different companies in different tours of the Middle East.
Cash In: “Elkaso” Receives $2.1 Million for Investment
The startup Elkaso, which specializes in connecting restaurants and suppliers on a single platform, has successfully secured an investment of $2.1 million, from a group of investors.
This seed funding comes from several venture capital firms, including Global Founders Capital and MSA Capital, as well as several current and former CEOs at Careem, Delivery Hero, Apple, Instashap, Talabat, and others.
Elkaso, an online B2B platform that facilitates order processing and communication between restaurants and suppliers, launched in the UAE and Saudi Arabia, early this year, and targets further expansion in 2022.
Elkaso currently serves more than 1,400 restaurants and suppliers in the UAE and Saudi Arabia.
Struck Gold: “Capiter” Raises $33 Million in First Investor Round!
Egyptian startup Capiter announced that it has raised $33 million in its first funding round as the company ramps up efforts to expand its services across Egypt and the region, during 2022.
The round was led by Quona Capital and MSA Capital along with another group of investors including Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and Derayah Ventures.
Capiter is an e-commerce startup that brings together manufacturers, brands, wholesalers, and retailers on one platform while providing electronic financial services.
It was launched in July 2020 by entrepreneurs “Mahmoud Noah” and “Ahmed Noah”.
Promising Lands: “Talabat Mart” Announces New Expansions in Egypt
Talabat Mart announced its expansion in three other cities besides Greater Cairo, which are Alexandria, Tanta, and Mansoura to launch an online grocery shopping service in the three cities.
Talabat Mart platform provides fast and safe delivery of groceries to shoppers’ homes after getting them from stores in just 20 minutes. The idea stemmed from the success of Egypt’s leading food delivery app, Talabat.
Talabat Mart platform offers nearly 5,000 products at affordable and competitive prices, providing unbeatable convenience to customers and shoppers in Egypt.
Report: 650 Billion Riyals is the Value of the Online Grocery Delivery Market in Saudi Arabia in 2025
A recent report by Ken Research stated that the online grocery delivery market in Saudi Arabia is expected to be worth SAR 650 billion by the end of 2025, registering a compound annual growth rate of 23.4% between 2019 and 2025.
The report is titled “KSA Online Grocery Delivery Market Outlook to 2025 – Driven by Changing Shopping Habits of Consumers and Regional Expansion of Local & International Players in the Kingdom.”
It provides a comprehensive analysis of the online grocery delivery market in the Kingdom, covering various aspects, including the current scenario of online grocery delivery there, the need and opportunities describing the target market that can be addressed, the gap that can be addressed in the market, and possible solutions.
📊 These were some of the numbers and expectations that the study came out with: 👇
- Online grocery delivery penetration is expected to reach 20% by the end of 2025.
- The demand for express delivery is expected to grow at a compound annual growth rate of 32% between 2019 and 2025.
- Express delivery fees are expected to decrease by the end of 2025.
- Technological advances such as drone deliveries, warehouse automation, and voice orders are expected to be adopted by service providers to enable faster deliveries.
💡 You can view the full report and figures through the following link.
➡️ This was the most prominent e-commerce and entrepreneurship news in the Middle East during the 37th week of this year.
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