OneOrder raises $3 million in Seed funding round
- ByStartupStory | December 7, 2022
OneOrder, the Mena-based fintech-enabled restaurant management platform providing food supplies to hotels, restaurants, and cafes, has closed the raising of $3m in a Seed round. The round was led by Nclude, this round also sees follow-on investment from leading Mena early-stage VC, A15. New to the round is Delivery Hero Ventures, a fund backed by global food delivery giant Delivery Hero, whose managing partner, Brendon Blacker, joins the OneOrder board. After this announcement, the company’s total investment has now become $10.5 million. In a pre-Seed investment round led by A15 the company initially raised $1 million. OneOrder also raised $6.5 million in working capital financing from multiple local NBFIs.
OneOrder will use the latest capital to reinforce its in-house operations and tech talent, scale its sales force to build its market share, and will invest heavily in its proprietary technology. Additionally, the technology-powered food and hospitality platform will deploy additional capital into scaling its offline presence, and expand its warehouse footprint across Egypt and the Mena region.
Launched in Cairo, Egypt in 2021, OneOrder was co-founded by Tamer Amer and Karim Maurice, OneOrder is using technology to solve the supply chain pain points in Egypt’s $40 billion HoReCa market, such as lack of product availability, price fluctuations, product consistency, on time and accurate delivery and a lack of working capital financing.
The OneOrder app is currently available in iOS and Android versions aggregating hundreds of trusted and vetted suppliers onto one platform. This significantly reduces the current process where restaurants liaise with up to 70 different suppliers and face poor fulfillment quotas due to a fragmented and opaque supply chain. OneOrder additionally gives customers access to a catalog of ~600 SKUs of their food and non-food supplies, including a curated selection of chilled and frozen items, which are available for next-day delivery. OneOrder’s mass purchasing power allows them to secure the lowest prices, thanks to economies of scale. This, in turn, reduces the cost of goods sold and eliminates the need for hospitality companies to pay for additional storage and warehousing costs.
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