Khazenly Raises $2.5m Seed Round To Drive Product Development
The Egyptian digital logistics startup has developed a one-stop-shop solution for the full spectrum of fulfilment services, from warehousing, to cross-docking, transportation, delivery, and cash collection services.
Khazenly has raised a US$2.5 million seed funding round to drive product development and quadruple its facilities.
Founded in mid-2021 by Mohamed Younes, Osama Aljammali, Mohamed Montasser, and Ahmed Dewidar, Khazenly
The startup’s end-to-end platform means that retailers and e-commerce entrepreneurs can digitally optimise their fulfilment processes, when selling online (B2C), via retail stores (B2B), marketplaces, cross-border, or any combination of these channels.
The US$2.5 million seed funding round was co-led by leading regional venture capitalists Arzan Venture Capital and Shorooq Partners, Other investors include Camel Ventures, Averroes Ventures, and various angel investors.
Proceeds will be used to develop Khazenly’s products and services, and quadruple its existing facilities. Geographical expansion will also be supported as Khazenly continues its rapid growth trajectory during 2022.
Mohamed Younes, Khazenly co-founder said: “At Khazenly, our simplified, technology-fueled platform, high-calibre 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.”
“We are on the cusp of tremendous client growth in Egypt due to our constantly innovative solutions. It is the perfect time to welcome our lead investors Arzan Venture Capital and Shorooq Partners; we look forward to working with them and all our other investors at this exciting time. We are very proud of our achievements to date, and are thrilled about the immediate future,” Younes added.
Khazenly said it plans to continue expanding its portfolio of data-driven products, such as its flagship Mobile Dark Stores, which 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.
Laith Zraikat, Partner at Arzan Venture Capital said: “The Khazenly team has demonstrated the ability to not just execute and deliver outstanding results, but to also offer innovative products and solutions that allow brands and merchants to sell more products to more customers, more frequently and in more locations – contributing to wider economic growth and development.”
Tamer Azer, partner at Shorooq Partners, said: “We are thrilled to be working with Khazenly and its stellar team, as we firmly believe their products and services have the capacity to drive forward the fulfilment industry in Egypt and the wider region, by making sure the world keeps turning for both buyers and sellers. We couldn’t be more excited to be a part of their journey.”