Egyptian supply chain technology startup Qara has raised $2.6 million in funding to fuel its expansion into Saudi Arabia, marking a significant step in its regional growth and influence in the tech ecosystem.
Qara offers a comprehensive digital platform that ensures product authentication and traceability throughout the supply chain. This platform enables businesses to engage with their markets more effectively, providing valuable data insights for better decision-making.
Since its inception, Qara has partnered with over 35 manufacturers and product suppliers, successfully authenticating more than 28 million product units. The platform has also connected these partners with over 50,000 business users across Egypt, Saudi Arabia, and Kenya, demonstrating its impact and value.
With this new funding, Qara plans to strengthen its presence in Saudi Arabia, benefitting from the National Technology Development Programme’s (NTDP) Relocate Initiative, which offers key incentives and support for companies entering the Saudi tech ecosystem.
Qara’s co-founder and CEO, Hassan Abouzeed, emphasized that the company is addressing critical challenges faced by manufacturers globally. Following three years of successful operations in Egypt, Qara is now ready to scale internationally. He noted that the move to Saudi Arabia aligns with the country’s Vision 2030, focusing on innovation and technology-driven value creation.
The supply chain startup’s goal is to enhance manufacturers’ B2B2C marketing and distribution capabilities through its digital platform. By ensuring product authenticity, increasing supply chain visibility, and minimizing inefficiencies, Qara aims to deliver better outcomes for all stakeholders involved.
This latest funding round reinforces Qara’s position as a leading player in the supply chain technology sector and paves the way for its continued growth and impact across the region.