Cairo-based on-demand digital warehousing startup, Khazenly, has completed its seed funding round. The startup raised $2.5 million from series of investors.
Khazenly’s seed funding round was led by investment firms like Arzan Venture Capital (which specializes in innovative, early-stage firm), and Shorooq Partners (which specializes in seed-stage tech investments).
Other firms and private investors that participated in the round include: Camel Ventures, Averroes Ventures, and a host of Angel investors.
Khazenly was founded in 2021 by Mohamed Younes, Osama Aljammali, Mohamed Montasser, and Ahmed Dewidar. The startup allow merchants, and social commerce retailers to optimize their fulfillment processes digitally when selling online, via retail stores, marketplaces, cross-border, or a combination of these channels. Aside its warehousing business,
Khazenly also offer services like cross-docking, transportation, delivery and cash collection services.
“There is no player in Egypt matching the digital experience that we already have to manage both B2C and B2B. Though we solve both aspects separately, we are solving a big pain in the market by automating both,” CEO, Younes, said.
“Our clients carry out all these seamless experiences using our digital platform. Also, beyond the current fulfillment, we do many activities with our clients and support them in marketing and other value-added services,” Younes added.
Speaking on the fundraise, Younes said Khazenly would use the funds realized from its seed funding round to further scale its facilities, and create more AI driven products to serve its customers.
The startup also said it would use the funds to improve on its flagship Mobile Dark Stores, which improve merchant experience by anticipating merchandise warehoused in line with market demand while simultaneously improving customer experience by ensuring a timely delivery window.
“We are very excited and proud of what we did the last few months. And I believe in the coming days we will do even more strategic and key milestones to let our merchants grow even more,” Younes said.
Commenting on the fundraise, Tamer Azer, Partner at Shorooq Partners, said:
“The rise of e-commerce globally, especially following the disruptions seen in the pandemic, has shown that fulfillment really does make the world go round. It also empowers millions of people and businesses and enables them to reach customers the world over, as part of an increasingly global marketplace.”
Younes did not give an exact figure for the number of merchants in its platform. However, he mentioned that Khazenly’s gross merchandise value (GVM) stands at eight figures, while it supports over 16,000 merchants in self-service activities.