Entrepreneurship, Innovation and Startups News Hub


Egyptian Grocery Delivery Startup Appetito Raises $450K Seed Round

Reading Time: < 1 minute

Appetito, an Egyptian-based grocery startup, has secured a $450K seed funding round from a group of Saudi Arabian Angel investors led by Ahmed Al Alola, an early-stage investor, along with Afropreneurs Fund, an African early-stage technology fund, and Jedar Capital, an emerging venture capitalist focused on early-stage startups in the Middle East, Africa, and Emerging Asia.

Founded in March 2020 by CEO Shehab Mokhtar, Appetito operates on a dark stores model, where products are sourced directly from the manufacturer, stored in fulfillment centers around the country, and then delivered directly to customers.

The startup offers an extensive range of private label products to all areas of Cairo, Giza, and Alexandria with pre-scheduled and next-day delivery.

READ  LCCI DG Says New Ecommerce Group Will Ensure More Conducive Regulatory Environment

“We’re proud of what we have achieved in just a few months from our launch,” Mokhtar said. “We’re privileged to have such prominent investors backing us. With their support and the team we’re building, I’m confident we will be in a leading position in the global race of grocery delivery.”

Appetito has recently widened its product portfolio to include more than 1000 SKUs from popular consumer brands and began offering customers deliveries in less than 60 minutes in selected areas, effectively entering the race of hyper-convenient grocery delivery in Egypt.

Jiji Nigeria
We would like to make you the first to get all our updates!    OK No thanks