Cairo-based online grocery startup, GoodsMart has raised US$3.6 million in funding, led by Sawari Ventures.
GoodsMart says the funds would be used to expand its workforce, accelerate its growth, and expand from Western Cairo to the Eastern part.
Prior to this, the startup has raised over $1 million from investors including Algebra Ventures.
Founded by Amr Fawzi (who doubles as the CEO) in 2014, the startup, GoodsMart enables users in West Cairo to order groceries using its mobile app.
The startup also offers a contactless delivery service to users. After a new user joins the platform, GoodsMart would install a delivery box outside the user’s home.
Using the mobile app, users can make orders before 9pm, and have it delivered to them between midnight and 6am. Users can also customize their delivery frequency, and order their groceries from a range of suppliers.
To make its quest for satisfactory delivery possible, GoodsMart has partnered with different suppliers. The startup also partnered with real estate companies to install delivery boxes for users.
The startup offers four different subscription options: 100 EGP (US$6) monthly subscription, and 800 EGP (US$51) for yearly subscription.
Shortly after the announcement was made, Hany El Sonbaty, Managing Partner at Sawari Ventures, commented on the fundraise:
“The demand for online grocery delivery has been exponentially increasing. GoodsMart has managed to disrupt the market by providing a seamless innovative solution for consumers that will shape the future for this sector.”
Founder and CEO, Fawzi also commented on the startup’s vision. He said:
“We started in 2014 with a vision to re-invent grocery shopping. Our biggest success is the emotional bond we managed to create with our clients.; listening to them was and will always be the secret recipe.”
As a result of the coronavirus pandemic, startups in the grocery delivery sector have received great attention. Appetito is another Egyptian grocery delivery startup that raised capital this year.