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RIYADH: As technology transforms the world from physical to digital, the retail industry, known as e-commerce, is one of the fastest growing sectors in the Middle East and South Africa. North.

The e-commerce industry in the MENA region is estimated to be worth $31 billion in 2021 and will reach over $50 billion by 2025. In this edition, Arab News has compiled a list of the 10 hottest e-commerce startups funded in the region.

Sary

Total funding $112 million

Founders Mohammed Aldossary and Khaled Alsiari

Investors Sanabil Investments, Wafra International Investment, Endeavor Catalyst, VentureSouq, Rocketship.vc, Ra’ed Ventures, MSA Capital, Derayah VC, STV and others

Headquarter Saudi Arabia

Sary is a B2B platform that connects small businesses such as convenience stores, restaurants, cafes and hotels with wholesalers of consumer goods.

Its last funding was in 2021, where it secured $75 million in its Series C led by Saudi Public Investment Fund subsidiary Sanabil Investments.

Mohammed Aldossary and Khaled Alsiari

AB max

Total funding $62.5 million

Founders Belal El Megharbel and Mohamed Benhalim

Investors BECO Capital, 4DX Ventures, Flourish Ventures, RMBV, IFC, Crystal Stream Capital, Endeavor Catalyst and Endure Capital

Headquarter Egypt

An e-commerce platform for retailers, MaxAB manages purchases and delivers groceries to stores and store owners can use the app to order goods, request delivery or logistics.

With plans to expand, the startup raised $40 million in an RMBW-led Series A funding round in 2021 to increase its staff and market footprint.

Retail business

Total funding $44 million

Founders Talha Ansari, Wahaj Ahmed and Mohammad Nowkhaiz

Investors Partners Shorooq, AgFunder, Arzan Capital, Abercross Holdings

Headquarter Saudi Arabia

Another B2B e-commerce Retailo is digitizing the replenishment process for small and medium retailers and stores through their mobile app and nearly 200,000 square feet of warehouse space.

With a fleet of 200 vehicles serving 50,000 retailers, the company raised $37 million in a Series A funding round in 2022.

Age-old brands

Total funding $42 million

Founder Alexandra O’Neill

Investors The Global Emerging Markets Group and Al-Attiyah Family Office

Headquarter United Arab Emirates

Gen Z direct-to-consumer e-commerce company Millennial Brands aims to boost ambitious brands in the Middle East, North Africa and Southeast Asia through its platform.

The company used its last $35 million growth round to launch a new brand, expand consumer technology and expand existing categories.

Brimore

Total funding $41 million

Founders Mohamed Abdulaziz and Ahmed Sheikha

Investors International Finance Corporation, Endure Capital, Fawry, Flourish, Endeavor Catalyst Fund, Disruptech, Algebra Ventures and Vision Ventures.

Headquarter Egypt

Egypt-based social e-commerce platform Brimore enables small and medium-sized businesses to take their products to the mass market by connecting them to a vast network of distributors.

Founded in 2017, the
The company claims to have grown 400x in the past three years with over 300 vendors, as it successfully raised $25 million in its last Series A funding round in 2022.

granny

Sami Alhelwah

Total funding $80 million

Founders Sami Alhelwah, Abdulmajeed Alsukhan, Bakr Elsherif and Ahmed Alsamani

Investors MEVP, STV, Saudi Venture Capital Company, Watar Partners, Wamda Capital and others

Headquarter Saudi Arabia

The Saudi online marketplace Nana allows its users to have their groceries delivered directly to their doorstep in 15 minutes, thanks to its collaboration with Google Cloud.

In February 2022, Nana secured $50 million in its latest funding round led by FIM Partners and STV to boost its presence in Saudi Arabia.

Floward

Total funding $34.2 million

Founders Abdulaziz B. Al-Loughani and Mohammed Alarifi

Investors STV and Impact46

Headquarter Kuwait

Another thriving e-commerce business, Floward, is an online flower and gift business that sources flowers daily from top growers and horticulturists around the world.

The company’s flower delivery services operate in nine countries following its $27.5 million Series B funding round last year.

Captain

Total funding $33.4 million

Founders Mahmoud Nouh and Ahmed Nouh

Investors Quona Capital, MSA Capital, Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, Derayah Ventures and Next Billion Ventures

Headquarter Egypt

Founded by a former COO of SWVL, Capiter enables merchants to order products through an e-commerce platform with payment services and receiving credit available on their purchases.

After raising $33 million in a Series A round, the B2B Marketplace serves over 60,000 merchants with over 1,200 sellers.

Breakfast

Total funding $30 million

Founders Mostafa Amin, Muhammad Habib and Abdallah Nofal

Investors Vostok New Ventures, JAM Fund, Shorooq Partners, Endure Capital, Tinder co-founder Justin Mateen, YC Continuity Fund, 4DX Ventures and Flexport

Headquarter Egypt

What started out as a bakery delivering fresh bread and pastries to customers, Breadfast now offers more than 2,500 supermarket items, including coffee, dairy and electronics.

The company has over 250,000 registrations in over 11 cities in Egypt. Additionally, their most recent funding round was a $26 million Series A co-led by Vostok New Ventures and Endure Capital.

Eyewa

Total funding $30 million

Founders Anass Boumediene, Mehdi Oudghiri and Abdullah Al-Rugaib

Investors Kingsway, Nuwa Capital, French Partners, Endeavor Catalyst, Derayah, Palm Drive, Hardy Capital, EQ2 Ventures, Wamda Capital, GS Shop, Equitrust, 500 Startups, Khawarizmi and Faith Capital

Headquarter Saudi Arabia, United Arab Emirates

D2C omnichannel that has transitioned from e-commerce to on-the-ground retailer Eyewa offers eyewear through its online and offline network in six countries.

In 2021, Eyewa closed a $21 million Series B round which was used for expansion as it now has 16 stores in Saudi Arabia and the United Arab Emirates.

Sallie R. Loera