Rabbit, an Egyptian on-demand convenience delivery startup, has announced a new round of pre-seed funding of $11M—a record high for the Middle East & Africa regions.
Participants in the round include Global Founders Capital, Foundation Ventures, Raed Ventures, MSA Capital and Goodwater Capital.
Promising you “groceries and more in under 20 minutes”, Rabbit is setting sail to transform the future of retail. Running on tech-enabled, hyper-local fulfillment centers, Rabbit is able to give consumers peace of mind, knowing what they order will never be out-of-stock and guaranteeing it arrives in under 20 minutes.
“The Rabbit team is setting a totally new standard for the grocery industry in Egypt and the broader region. They offer a totally new experience to customers compared to traditional grocers and local stores.” Lorenzo Franzi, the investor at Global Founders Capital, said. “We have been following their progress since the very beginning and are very excited to be supporting their journey.”
“At Raed, we always look for world-class founders who have the capacity to be leaders in their industry,” Talal Alasmari, founding partner of Raed Ventures, said. “We believe that the founders of Rabbit, with their ambitious vision and extensive experience, possess the ability to lead in the Ultra-fast delivery domain, not only in Egypt but in the region as a whole.”
While delivering in 20 minutes in the busy streets of Cairo seems like magic, it is only made possible through the proprietary tech built by Rabbit.
“With Rabbit, you can buy a product in seconds, and get it in minutes. The simplicity of the promise is made possible through our industry-leading tech that powers live inventory management, blazing-fast pick and pack operations and optimized point-to-point delivery that comes together to ensure your order arrives on time, every time,” explains Walid Shabana, Rabbit’s Chief Technology Officer.
