Omniful, the cloud platform focused on hyperlocal and omnichannel commerce, has secured an impressive $5.85 million in its seed funding round, led by VentureSouq.
Founded in 2021 by Mostafa Abolnasr and Alankrit Nishad, the platform ensures real-time inventory management across diverse integrated sales channels, addressing inefficiencies in the supply chain and streamlining operations.
Omniful aims to enhance efficiencies for merchants by 40% and improve customer retention by 15%.
Omniful, the hyperlocal and omnichannel commerce-focused cloud platform, has successfully secured $5.85 million in its seed funding round, according to a statement.
The investment was led by VentureSouq, with participation from 500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, RZM Investments, and strategic angel investors from the GCC.
Founded in 2021 by Mostafa Abolnasr and Alankrit Nishad, Omniful offers a unified order management system (OMS), warehouse management system (WMS), and transport management system (TMS) for merchants and 3rd party logistics (3PL) fulfillment providers.
The platform ensures real-time inventory management across diverse integrated sales channels, addressing inefficiencies in the supply chain.
Mostafa Abolnasr, co-founder & CEO, stated, “Our seed round marks a major milestone, and together with our investors, we are excited about going out of stealth and launching our sales and marketing efforts in MEA and India, followed by Europe and USA.”
Omniful aims to enhance efficiencies for merchants by 40% and improve customer retention by 15%. In the past year, their customers have experienced a 35% increase in monthly revenue (YoY) on average, with over 96% of orders shipped on time and in full.
The funds raised will be utilized to strengthen Omniful’s position in existing markets, launch sales and marketing activities in new countries, and enhance technology development.
The platform’s cloud-based, plug-and-play approach allows dynamic configurations tailored to various shopping modes.
Alankrit Nishad, co-founder and chief Technology Officer, emphasized Omniful’s technology-driven approach, stating, “Our technology is a clear differentiator, making us the platform of choice for omnichannel merchants and high-volume 3PL fulfillment providers.”
Omniful, co-headquartered in Saudi Arabia and the UAE, with an R&D hub in India, plans to double down on growing its technology capabilities in India and expand its platform globally.VentureSouq’s General Partner, Tammer Qaddumi, sees Omniful as having far-reaching applications, emphasizing its potential to enhance retail franchises in the MENA region and become a borderless solution for businesses globally.
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