Khazenly, Cairo-based on-demand digital warehousing and fulfilment platform, raises $2.5 million in a seed funding round. The funding round was co-led by Arzan Venture Capital and Shorooq Partners. The round also witnessed participation from Camel Ventures, Averroes Ventures, and various angel investors.
The startup will use the funds to develop Khazenly’s products and services, quadruple its existing facilities and expand geographically.
“At Khazenly, our simplified, technology-fueled platform, high-caliber experienced team, and network of market-leading partners help merchants grow and scale. I am delighted to announce our successful seed funding round, meaning 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,” Mohamed Younes, Co-Founder and Chief Executive Officer of Khazenly, stated.
The startup plans to continue expanding its portfolio of data-driven products, such as its flagship Mobile Dark Stores, which will elevate the merchants’ experience by forecasting the products to be warehoused in line with market demand, while also enhancing shopper experience by ensuring a prompt delivery window.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.