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)
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