Cairo’s Appetito raises $450K in seed funding

Cairo’s Appetito raises $450K in seed funding

Appetito, a Cairo-based grocery startup, has raised $450,000 in seed funding after launching a few months ago.

Among those who raised the funds was a group of Saudi angel investors headed by Ahmed Al Alola, an early-stage investor who was one of the early backers of Saudi's grocery appSary and Afropreneurs Fund, an African early-stage technology fund that has previously backed top Africa-based startups such as Andela, Flutterwave and  Trella.

The round also saw participation from Jedar Capital, an emerging VC focusing on early stage startups in the Middle East, Africa & Emerging Asia.Appetito, which was launched in March last year, functions through a dark stores model where products are sourced from manufacturers, stored in mini fulfilment centres then delivered to household customers.

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"We're proud of what we have achieved in just a few months from our launch. We're privileged to have such prominent investors backing us. With their support and the team we're building, I'm confident we will be in a leading position in the global race of grocery delivery,” said Shehab Mokhtar, founder and CEO  of Appetito.

Al Alola said: “Observing the radical change in consumer's behaviour