BulkWhiz closes Series A round of funding led by investors from the UAE, Kuwait, China, and the US
- The Funding Round is led by investors from the UAE, Kuwait, China, and the US
- Funds will be used to continue building BulkWhiz proprietary AI technology, new channels and new markets
BulkWhiz, the Middle East’s first AI driven bulk value ecommerce platform direct to consumers and small businesses, closes its Series A Round of Funding. The round was led by BECO Capital and includes MSA Capital, 500 Startups and Faith Capital.
This round will enable BulkWhiz to continue to personalize the grocery shopping experience for its customers and streamline the grocery e-commerce value chain for greater efficiencies. It will also be used to continue to build BulkWhiz proprietary AI, new channels and new markets.
“We are very excited to be scaling our platform to address a huge market opportunity across the region through leveraging our homegrown technology” says Amira Rashad, CEO and co-founder of BulkWhiz.
“As a mom, I am acutely aware of the challenges of grocery shopping from wasted time, and running out, to not getting proper service or value for money. Frankly, I am excited that BulkWhiz is addressing all these challenges one by one for MENA consumers”.
Grocery accounts for approx US$175 billion across MENA. Grocery e-commerce in the region is under indexed at less than 1% vs. 8% in more advanced markets. BulkWhiz has built its own proprietary AI technology to take advantage of the transforming global ecommerce landscape, focused on bulk buying as we move towards an IoT future of connected devices. .
BulkWhiz launched in 2017 and expanded rapidly to cover the UAE witnessing 30%+ growth month on month. In 2018, BulkWhiz became the first woman led business in the region to become part of the Harvard Business School Curriculum, covering learnings on entrepreneurship, leadership, negotiation and work life balance from and for the region.