Khazenly has raised $2.5 million in a seed funding round co-led by venture capital firms Shorooq Partners and Arzan Venture Capital, a Kuwaiti company that has made significant investments in the MENA region since 2014.
Khazenly is a Cairo-based on-demand digital warehousing and fulfillment platform founded last year by Egyptian entrepreneur Mohamed Younes, Osama Aljammali, Mohamed Montasser, and Ahmed Dewidar as an on-demand digital warehousing and fulfillment management platform that provides an omnichannel solution to help merchants digitize their businesses.
Since its inception, the startup has handled an eight-digit figure in gross merchandise value, and its platform supports clients in more than 16,000 self-service activities, quickly becoming a partner of choice for merchants across multiple industries – apparel, electronics, home accessories, and FMCG.
Its recent $2.5-million seed funding round co-led by leading regional venture capitalists Arzan Venture Capital and Shorooq Partners, with participation from Camel Ventures and Averroes Ventures, is part of a concerted effort to drive product development and quadruple its facilities.
The startup disclosed that the cash injection will be used to develop Khazenly’s products and services and quadruple its existing facilities. Geographical expansion will also be supported as it continues its rapid growth trajectory during 2022.
Younes, CEO of Khazenly, explained that the $2.5 million in institutional funding will help the startup build on its success and strategically position itself as a regional leader in fulfillment and logistics.
Younes stated: “I am delighted to announce the successful completion of our seed funding round, which means that we can build on our success and position Khazenly as a regional leader in fulfilment and logistics as we shape the future of e-commerce in Egypt and beyond.”
In line with its strategic expansion plans, Khazenly intends to continue expanding its portfolio of data-driven products, such as its flagship Mobile Dark Stores, which improve the merchant experience by forecasting products to be warehoused in accordance with market demand, while also improving the shopper experience by ensuring a timely delivery window.
