OneOrder, Egypt's supply chain solutions provider for restaurants, has raised $3 million in seed funding The startup has raised $10.5 so far.
million, including $6.5 million working capital financing from financial institutions.
OneOrder made it possible for restaurants to order food supplies through its online platform, which solved the fragmented supply chain challenges that led to erratic prices, waste, quality issues, and storage cost.
By using its platform, restaurants no longer have to deal with tens of suppliers and can order only what they need for next day delivery. Restaurants can save money by using OneOrder's economies of scale.
TopUp Mama looking to solve sourcing challenges for restaurants
The startup plans to use the funding to scale its operations in Egypt, increase its warehouse footprint, and explore growth opportunities in the Gulf and Africa.
We are looking at Saudi Arabia and expanding into the southern part of the world. Tamer Ame r, co-founder and CEO of One Order, said that Africa has a lot of markets that feel the same pain points as Egypt.
The solution that we are providing has shown that this industry is ready for tech solutions, and we are working on a more substantial operating system for the restaurants, rather than just the supply chain and inventory management system.
The launch of One Order, to serve the country's total addressable market of 400,000 restaurants, was inspired by the challenges Amer faced operating two restaurants in Egypt.
We would always order and get the supplies in the U.S. We didn't have to worry about shortages. The industry is doing a lot of things that we shouldn't be doing in Egypt.
Restaurants shouldn't have a full time job monitoring the supply chain and procuring products because it takes away focus from the core business of serving customers. He said that the idea began at that location.
Working capital financing options for restaurants will be extended by OneOrder through its partners and backed by its extensive data.
The product-market fit of the One Order solution is very impressive, along with the positive impact it is delivering to all stakeholders in the value chain. OneOrder uses technology and alternative data to help clients who can't get traditional financing. This is in line with our investing philosophy and we are excited to embark on this journey.
Vendease gets $3.2M to help hotels and restaurants buy food supplies in Africa
French VC firm Partech has closed another seed fund dedicated to early-stage tech startups — the fund is called Partech Entrepreneur IV. This time, Partech has raised €120 million. It represen...Kapu, a social commerce startup, coming out of stealth today having raised $8 million seed funding, is hoping to help lessen the burden of buying food for Kenyan consumers, many of whom are grappli...After four years operating primarily as a logistics marketplace, Egypt’s Voo has rebranded to SideUp and transformed its strategy to offer a complete spectrum of e-commerce support services, includ...We’re getting ready to launch our third TC Sessions: Space conference next week on December 6 in Los Angeles, and we still feel the thrill associated with space technology and the intrepid early-st...Sam Bankman-Fried, the former chief executive of FTX, indicated on Sunday that he is unlikely to testify in the upcoming U.S. House committee’s hearing on the collapse of his crypto exchange,...Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive i...Carson Brown, co-founder and head of product at Taur, discusses why Taur could be the brand ambassador the electric scooter market needs to flourish. Aaaaand we’re back! With our Thanksgiving mini-hiatus behind us, it’s time for another edition of Week in Review — the newsletter where we quickly wrap up the most read TechCrunch stori...Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. Global app spending reached $65 billion in...Welcome to Startups Weekly, a nuanced take on this week’s startup news and trends by Senior Reporter and Equity co-host Natasha Mascarenhas. To get this in your inbox, subscribe here. To end the ye...EquityZen shared insights on secondary stock sales and a few IPO predictions that gave us food for thought. Vijay Chattha, a seasoned startup comms expert, appeared on the Equity podcast to talk with Natasha Mascarenhas about startup storytelling and vulnerability. Elon Musk reminded his followers on Friday that owning Twitter now means he controls every aspect of the company — including what its employees said behind closed doors before he took over. Earlier...Lora DiCarlo, a sex tech startup that made headlines in 2019 after being blacklisted from the Consumer Electronics Show, seems to have shut down. The company’s website is offline and reported...Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package. Ye might have crossed the line by tweeting a swastika superimposed with a Star of David, but you can’t blame other Nazi apologists for getting mixed signals. On Thursday night, Musk personally inte...Watching AWS re:Invent this week, it was hard to get excited about the announcements, and it seems the age of innovation could be ending. Prefabricated homes always seem to be on the cusp of something big — solving housing shortages, tackling systemic waste or just generally ushering in the “very up-to-date.” But in the U...SaaS platform klikit saves restaurant kitchens from ‘tablet hell’
All Rights Reserved © 2024
