OneOrder, a provider of supply chain solutions for restaurants in Egypt, has raised $3 million in seed funding, which was headed by Nclude and also included contributions from A15 and Delivery Hero Ventures. The business has now raised $10.5 million in total, including $6.5 million in working capital financing from financial institutions.
OneOrder, which was introduced in March of this year, allows restaurants to place orders for food supplies via its online platform, addressing the problems associated with a fragmented supply chain, such as unstable prices, waste, poor quality, and high storage costs.
By using its platform, restaurants can order only what they require for next-day delivery, eliminating waste and the need for warehouses. This eliminates the need for restaurants to manage dozens of suppliers. Through the use of OneOrder’s economies of scale, the platform also guarantees operational effectiveness and assists restaurants in making financial savings.
The business intends to utilize the money to expand its operations in Egypt, including expanding its warehouse footprint, as well as to look at expansion potential in the Gulf Cooperation Council (GCC) region and in Africa.
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The startup intends to use the money to expand its operations in Egypt, including expanding its warehouse footprint, as well as to look into expansion opportunities in the Gulf Cooperation Council (GCC) region and in Africa.
“We are exploring Saudi Arabia and expanding south into our continent. I think Africa has a lot of markets that feel the same pain points that Egypt does,” said Tamer Amer, the CEO of OneOrder and co-founder with Karim Maurice, the CTO and creator of Cube, an online restaurant reservation service.
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“The solution that we’re providing has shown that this industry is ready for tech solutions…[and] we are working on a more substantial operating system for the restaurants not just the supply chain and inventory management system, rather the full cycle that would turn their operations automatic by using AI and machine learning capabilities to drive the supply chain,” Amer, who has been a restaurateur for almost 20 years—first in the United States and then, starting in 2008, in Egypt—said.
More Difficulties Faced With OneOrder
Amer stated the sourcing difficulties he faced while running two restaurants in Egypt, Fuego, a sushi bar, and Longhord Texas Barbeque, were what spurred the creation of OneOrder, which will cater to the 400,000 restaurants that make up the country’s entire addressable market.
“I had always taken the supply chain in the U.S. for granted; we would order and get the supplies all the time. We didn’t have to worry about shortages or price changes. I realized that Egypt is so underserved and the industry is really doing a lot of things that we shouldn’t be doing,” he said.
“restaurants should not have a full-time job monitoring the supply chain and procuring products because it takes away focus on the core business, which is serving customers. So that’s where the idea really started,” he said.
OneOrder plans to start delivering working capital finance options to restaurants through its partners and with the use of its massive data to help them expand their operations.
Basil Moftah, the managing partner at Nclude, said: “The product-market fit of the OneOrder solution is very impressive, along with the positive impact it is delivering to all stakeholders in the value chain. Through the use of technology and alternative data, OneOrder’s embedded financing will help underserved clients who are unable to secure traditional financing. This aligns perfectly with our investing philosophy and we are glad to be embarking on this journey with the team.”
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All About OneOrder
The heart of food and service is fresh cuisine and new ideas. One Order provides excellent produce, unique cuts of meat, premium seafood, and imported cuisine with a variety of world flavours.
Our vast network of specialised suppliers complements our culinary and commercial experience. One Order’s unrivalled variety of unique ingredients and cutting-edge items connects your company to the industry’s best distribution network, keeping you loaded with the most recent products, trends, and ideas in one location.