Startup Kemmit secures 2nd seed round from Saudi Angel investors

The new fund will be allocated for the company’s expansion plan

  
An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016.Image used for illustrative purpose.

An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016.Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

ArabFinance: The Egypt-based E-commerce platform, Kemitt, announced securing a six-div seed fundraise from a group of Saudi Angel investors, the company said in a press release.

The new fund will be allocated for the company’s expansion plan, as the company plans to expand its footprint across Egypt with the maximum quality and the minimum price by collaborating with a network of manufacturers.

The finance will be also used to expand the company’s team and operations, in addition to developing the company’s technology and entering new markets in the region, starting with Saudi Arabia.

Founded in 2017, Kemitt is an online platform that allows customers to access over 15,000 SKUs, with an on-demand manufacturing option and 7-12 day delivery services to their doorstep.

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