Pre-seed funding for Suplyd has been provided by Endure Capital, Seedstars, Camel Ventures, Falak Startups, Outlierz, Plus Ventures, Fort, Alex Angels, and a host of other strategic and angel investors.
Suplyd, a B2B platform that facilitates digital order procurement, payment, and fulfilment, was launched in January of this year to help firms in the food service industry streamline their supply chain processes.
The time and effort spent physically searching for products is eliminated through its platform, making it ideal for eateries. It also guarantees that the companies are able to get the supplies at reasonable rates.
With the additional capital, Suplyd will be able to scale its technology and extend its operations in and around Cairo, as well as pursue other prospects for expansion in the MENA region.
Everyone in the world is concerned about the rising expenses and excessive waste in the restaurant industry’s supply chain. Gohar Said, CEO of Suplyd, along with co-founders Karim Selima and Ahmed ElMahdy, said, “The Egyptian market is tremendously huge yet untouched, and that’s where we target our efforts for the next phase before we extend to other worldwide countries.”
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The startup, founded by 12-year restaurant industry veteran Said, is bringing the convenience of e-commerce to the restaurant supply chain by improving asset utilization, cutting down on waste across the board, and saving time and energy often spent on supplier communication and follow-up.
Suplyd is able to meet restaurants’ supply demands on demand and reduce waste on both ends thanks to the startup’s network of tech-enabled fulfilment centers, which provide data on demand patterns and trends that inform stocking.
Typically, eateries must first validate their rates by searching for and negotiating with suppliers for their stock-keeping units (SKUs). The risk of fulfilment arises if the right match occurs, which is not guaranteed, Said said. This could be due to limited time frames for placing orders, quantity constraints, or other factors.
Suplyd offers a digital procurement engine
A platform where it makes it easy for restaurants to buy supplies at considerably cheaper rates than open market prices exposes restaurants to a broad range of SKUs, guarantees fulfilment through a centralized system and streamlines both the transaction and the delivery process. “It’s also helpful for vendors since they can get immediate analytics and useful insights on demand trends and patterns,” he added.
Since its start, Suplyd has expanded by about 50% every month and now claims to serve 500 consumers in the wider Cairo area. A year from now, the business anticipates even more growth thanks to its expansion plans to serve Egypt’s massive HoReCa market, which is supported by more than 400,000 eateries.
To quote Endure Capital’s general partner Tarek Fahim: “Eating out is a big aspect of social life in the Middle East, yet the supply chain that enables restaurants to service customers is very fragmented. We’re excited to back Suplyd’s hard-working team and the innovative platform they’re developing to digitize the restaurant supply chain and help communities around save money and avoid food waste.