Year-old startup Capiter announced last week that it raised a $33 million Series A to digitize Egypt’s traditional offline retail market.
It’s looking to take a large pie in the budding e-commerce and retail play, where multiple startups are pulling their weight including Cartona, also a year-old startup out of Egypt.
Today, Cartona is announcing that it has raised a $4.5 million pre-Series A funding round to connect retailers and manufacturers via an application.
The company confirmed that Dubai-based venture capital firm Global Ventures led the round, with Pan-African firm Kepple Africa, T5 Capital and angel investors also participating.
Cairo-based Cartona, founded in August 2020, focuses on solving the supply-chain and operational challenges of players in the fast-moving consumer goods (FMCG) industry by helping buyers access products from sellers on a single platform.
Buyers, in this case, are retailers, while sellers are FMCG companies, distributors and wholesalers.
The problem retailers in Egypt and most of Africa face mainly revolves around limited access to suppliers. There are also issues around transparency in market prices, which are dependent on traditional logistical capabilities.
For suppliers, the lack of data and inability to make data-backed decisions to improve margins and aid growth add up to unoptimized warehouses.