Rabbit, an Egyptian logistics startup, has raised $11 million in a pre-seed spherical

Rabbit, an Egyptian on-demand supply startup that makes use of darkish storefronts to move groceries, cosmetics, electronics, and different gadgets, has raised an US$11 million pre-seed fundraising spherical.

World Founders Capital, Basis Ventures, Raed Ventures, MSA Capital, and Goodwater Capital are among the many worldwide buyers who contributed to the US$11 million pre-seed fundraising spherical. Rabbit presently serves 4 neighborhoods in central Cairo – Mohandeseen, Zamalek, Maadi, and Nasr Metropolis – and has ambitions to increase its service space within the close to future, with intentions to develop into different giant cities and course of a whole bunch of hundreds of orders monthly.

Rabbit, a tech-enabled hyper-local achievement heart based by Ahmad Yousry, Walid Shabana, Ismail Hafez, and Tarek El Geresy final month, guarantees to have the ability to assure customers that what they need won’t ever be out-of-stock and can arrive in below 20 minutes.

“During the last 20 years, shopper expectations have shifted dramatically. “On-demand has dominated the music, video, and transportation industries, and we consider on-demand retail will observe,” Rabbit CEO Yousry acknowledged (CEO).

Rabbit, in keeping with Yousry, will quickly be processing a whole bunch of hundreds of orders monthly.

 

Learn extra on Tech Gist Africa:

Oja, a Nigerian-founded grocery supply service, has raised $3.4 million in funding

DP World has launched its e-commerce platform DUBUY.com in Kenya

Appetito, an Egyptian grocery supply startup, has raised $2 million in a pre-Sequence A funding spherical

Breadfast, an Egyptian grocery supply startup, has raised a $26 million Sequence A funding spherical.

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