Cairo-based Talabeyah that runs a B2B food and grocery e-commerce startup has raised a 7-figure pre-seed round led by strategic angel investors. Hamed Barakat, Talabeyah’s CFO mentioned that the new funds will scale operations, build technology, leverage the use of AI and ML algorithms.
Tayabelah operates a tech-driven supply chain model working to alleviate pain points by small-scale retailers across Egypt allowing them to use Talabeyah’s digital platform to buy and manage their inventory.
Founded in July 2020, the e-commerce startup was founded by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj and leverages its supply chain model and purchase experience by building customer-centric businesses. In the press statement shared by Wamda, Talabeyah CEO and co-founder Karim Nassef described summed up Talabeyah’s goal to “disrupt and digitise this informal market by leveraging technology and an innovative supply chain.”
Talabeyah touts its experienced team as the secret to their accomplishments. Within a relatively short period of time, the company has opted for a highly capital-intensive business, achieved a GMV of $6 million from a $180,000 initial investment while raking in annual revenues of 66X the amount capital injected in the company.