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The UAE-based B2B food marketplace Supy has successfully raised $1.5M in its latest funding round. The Pre-Seed round was co-led by UAE-based investor COTU Ventures and US-based Valia Ventures, marking their first investment in MENA.
Founded in January 2021 by its CEO Dani El-Zein, previously COO at Quiqup, and CTO Ibrahim Bou Ncoula, who was one of Careem’s first seniors, Supy’s easy to use solution servicing restaurants of all sizes streamlines their ordering process and equips them with real-time analytics and actionable insights when it comes to procurement. Creating a digital trail and optimizing efficiencies between suppliers and restaurants directly leads to cost savings and can significantly reduce wastage which is an inherent problem that plagues the F&B industry today.
Looking at the 2021 top funding rounds in F&B across EVMs, we notice a key common denominator: Building an ingenious Tech Stack to streamline procurement, preparation, POS, financing, and delivery operations. In the UAE and as observed recently in our August 2021 Venture Investment Report, Tech-enabled F&B startups have raised $485M this year alone, raised between Cloud Kitchen startups and b2b marketplaces the likes of Supy.
In just a few months, the platform has witnessed rapid growth and already powers over 1,000 restaurants and suppliers across the UAE including leading brands such as Tashas Group, Pinza, Akiba Dori, One Life DXB, and fast-food chain Popeyes.Dani El-Zein, Co-Founder and CEO of Supy highlighted “Having spent the past decade in both the technology and F&B industries, I experienced first-hand the countless pain points that exist for both restaurants and suppliers when it comes to the ordering process. . This is not just a local problem, but a global one that plagues all stakeholders in the industry. We are on a mission to become a global leader in this space and our early traction is already a testament to the power of our platform.”
The startup plans to utilize its newly acquired funds to furhter support its offering and expand its operation and markets. This latest funding round comes in a wave of Cloud Service and Tech-focused investments in the UAE and across MENA. Amir Farha, Founder and General Partner at COTU Ventures concluded “We’re really excited to partner with Dani and support him in his vision to optimize the supply chain of restaurants through Supy. His deep understanding of the customer and the problem he’s solving, as well as his prior experience, made it a very clear investment decision for us. We are honored that he chose to partner with us on this adventure and look forward to seeing Supy grow into a household name in the restaurant industry.”
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