Grocery delivery startup GoodsMart secures $3.6M
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This recent investment comes as a continuation of the exceptional capital raised by Delivery & Logistics startups in Egypt. Based on MAGNiTT’s Egypt H1 2021 Venture Investment Report, the D&L sector led an exceptional 883% growth in H1’21 YoY, accounting for 26% of all capital raised at that time. Launched in 2014, GoodsMart’s unique delivery model makes it a distinctive brand in the local market. Like other grocery delivery startups, users can access and order groceries through its mobile app, however, its distinctiveness arises from its contactless delivery system where deliveries are received in pre-installed GoodsMart boxes outside users’ homes.
Through GoodsMart’s seamless user-friendly platform, users can specify the frequency of delivery, from specific days in a week to a monthly order, delivered to their boxes between 12:00 and 6:00 am so users can wake to freshly purchased products. Even though this contactless delivery system was deemed crucial through the pandemic, GoodsMart set a solid customer relationship base that proved to be at the core of their success as Amr Fawzi, founder and CEO highlights “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.”
The delivery startup works with different suppliers to fulfill customer orders covering a wide range of products from groceries, medicine, to other bakery products. Currently operating in West Cairo, GoodsMart plans to utilize its newly acquired funds to accelerate its expansion to East Cairo and other markets, as well as grow its team & delivery fleets. Highlighting the success of the startup and the importance of this fund Hany El Sonbaty, Managing Partner at Sawari Ventures concludes in a statement“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.”
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