EGYPT – Egypt-based foodtech startup 3attar has secured seed investment from AUC Angels, UI Investment and a group of angel investors.
Established in 2019, 3attar allows users to order healthy food products online and gain access to a wide variety of healthy food-focused recipes as well as diet programmes.
The B2C online platform provides value to its customers through offering an online ordering platform for healthy food/products, delivery, diet-consultation programs, live-coaching programs, and other subscription and e-payment models
During the COVID-19 crisis, the company expanded its product range from a few hundreds to over 3,000, making it Egypt’s largest healthy-shopping destination.
With its one-of-a-kind name and logo combination, the company expanded into its own private label, which now accounts for 20% of the company’s overall income.
The funds raised will be used to expand the company’s customer base through marketing acquisition and diversity, as well as to improve the tech stack in order to increase order volume and revenue.
Mohamed Ali, founder & CEO of 3attar said, “We aim to become the dominant one-stop-shop for the whole health community in Egypt and expand into Mena regions; including chronic diseases and obesity by providing a holistic healthy lifestyle app.”
The company’s vision is to support the health community that is comprised of at-risk individuals who lack the resources, awareness, products necessary to alleviate their conditions and improve their health.
With this it aims to offer accessible solutions to customers suffering from obesity, diabetes, allergies, hypertension & more.
Also on its radar are the health enthusiasts as well as athletes, dieters & fitness professionals; who maintain and lead a healthy food intake and are constantly seeking a platform that holistically offers all their lifestyle needs.
Mariam Kamel of AUC Angels said, “This specialized e-commerce space has witnessed an increased inflow of angel investments and venture capital this past year. 3attar not only satisfies this but also strives for impact in addressing the growing trends towards healthier living.”
Foodics grows MENA footprint with acquisition of POSRocket
Still in the MENA region, Foodics, the Saudi Arabian-based Gulf Cooperation Council (GCC) restaurant technology leader, has acquired POSRocket, the second largest provider of restaurant cloud technology in the region.
The acquisition is a strategic move by the two companies and allows Foodics to consolidate itself in the market, as well as to assume market leadership in Egypt, Kuwait, Oman and Jordan, in addition to the dominant position it already held in the rest of the GCC.
The move also opens the door to future mergers and acquisitions activities and Foodics’ international expansion.
Founded in 2016 in Jordan, POSRocket offers cloud-based POS software for restaurants and retailers that allows owners to manage operations remotely in real-time.
The acquisition will allow POSRocket merchants to benefit from Foodics’ ecosystem in managing payments, supplies and capital lending infrastructure.
Since its founding in 2014, Foodics has successfully processed more than US$ 5 billion in orders through its platform, and its goal is 150,000 terminals by the end of 2024.