Egypt-based e-grocery start-up Appetito raises $450,000 seed

Appetito operates via a dark store model, where products are sourced from manufacturers, stored in mini fulfilment centres then delivered to household customers

  
online shopping mobile app holding by a hand with blurred background of supermarket grocery on a mobile screen. Image used for illustrative purpose.

online shopping mobile app holding by a hand with blurred background of supermarket grocery on a mobile screen. Image used for illustrative purpose.

Getty Images

Apetito, a Cairo-based grocery start-up has raised $450,000 in a seed funding round led by Ahmed Al Alola, an early-stage investor, Afropreneurs Fund, an African early-stage technology fund, and participation from Jedar Capital, an emerging VC focusing on early stage startups in the Middle East, Africa & Emerging Asia, Apetito said in a statement.

Established in March 2020, Appetito operates via a dark store model, where products are sourced from manufacturers, stored in mini fulfilment centres then delivered to household customers.

The startup started with a wide range of private label products serving all areas of Cairo, Giza, and Alexandria with next day and pre-scheduled deliveries.

Recently, the company expanded its product portfolio to include more than 1000 SKUs (stock-keeping units) from well-known consumer brands and entered the hyper convenience race by offering its customers less than 60-minute delivery in selected areas.

(Writing by Brinda Darasha; editing by Seban Scaria)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021

More From Alternative Investments