A forward-thinking Egyptian supply chain tech startup has raised $2.6 million in funding to fuel its exciting expansion into Saudi Arabia. This new round of investment will enable the company to enhance its digital platform, which is designed to improve product authentication, increase traceability, and support smarter, data-driven decision-making across supply chains.
The platform connects producers, manufacturers, and suppliers, ensuring the authenticity and transparency of millions of products. Having already partnered with over 35 manufacturers and authenticated more than 28 million units, the company is now working with over 50,000 business users across Egypt, Saudi Arabia, and Kenya.
With this new funding, the company is poised for significant growth, particularly in the Saudi market. The expansion will be supported by the National Technology Development Programme’s (NTDP) Relocate Initiative, providing a range of incentives and support to help integrate the startup into Saudi Arabia’s burgeoning tech ecosystem.
The company’s CEO expressed great optimism about the future, noting how the business aligns perfectly with Saudi Arabia’s Vision 2030, which emphasizes fostering innovation and technology to drive economic value. The company aims to transform supply chain operations by providing manufacturers with innovative tools to streamline B2B and B2C marketing and distribution, ensuring better outcomes for all stakeholders.
As the company continues its journey of growth and innovation, its solutions are set to bring even greater value to the global supply chain by enhancing product authenticity, reducing inefficiencies, and providing much-needed visibility for businesses across regions.
#ICTTMNews #BreakingNews #SupplyChainInnovation #TechExpansion #SaudiVision2030 #NewsUpdate
