• Foras acquires 10% of Canater for USD 1M, backing its supply chain tech for MENA-based manufacturers entering global markets.
• Canater plans to expand digital logistics services and strengthen its presence in the global consumer-packaged goods sector.
• The startup aims to streamline exports through AI-driven tools, platform upgrades, and deeper ties with regulators across new markets.

Foras

What happened Foras announced the acquisition of a 10% stake in the startup Canater which specializes in providing supply chain and logistics solutions for manufacturers in the MENA region.

Mohamed Aboulnaga Nagaty, CEO of Foras, commented on the investment, stating, “We believe in Canater’s ability to bring about a transformative shift in how manufacturers in the region expand into global markets.”

Supply Chain

What’s next? With the funding, the startup aims to empower regional manufacturers to expand their products into global markets. This is because the company sees potential in the global consumer-packaged goods (CPG)  market, valued at approximately USD 11 trillion. 

Canater also aims to strengthen its market presence, and expand its services to multiple sectors. Additionally, it aims to further develop its digital platform to offer a more comprehensive and seamless experience for its clients. 

In addition, the company plans to enhance collaboration with government and regulatory bodies across various countries to streamline export processes and enable manufacturers to access new markets more easily.

Khamis Soliman (Kash), founder of Canater, said  “With Foras’ support, we will be able to accelerate our growth and enhance our technological capabilities to deliver more innovative solutions to our clients”

Who are they?  Canater offers innovative solutions in international contracts, supply chains, and logistics to boost MENA’s export of packaged consumer goods to global markets. It also offers a comprehensive suite of services, including storage

solutions, logistics, financing, cross-border trading matching using AI. Additionally, it is  a digital platform that allows manufacturers to track shipments with precision. 

In its initial phase, Canater is focusing on the CPG sector, which includes food, beverages, cosmetics, personal care products, and cleaning supplies. 
Meanwhile, Foras is an investment and innovation firm focusing supporting startups that aim to transform traditional industries through technology and innovation.