Egyptian quick commerce (q-commerce) startup Rabbit has successfully secured an undisclosed amount of funding from prominent blue-chip investors, marking a significant milestone in its growth trajectory. In addition to this financial backing, Rabbit has made a strategic move to expand its operations into the Saudi market by establishing a regional headquarters in Riyadh.
Founded in 2021 by a team of entrepreneurs including Ahmed Yousry, Walid Shabana, Ismail Hafezz, and Tarek El Geresy, Rabbit is a technology-driven hyperlocal e-commerce platform that specializes in delivering groceries and other essentials to customers in as little as 20 minutes. This rapid delivery service is facilitated through a network of “dark stores,” which are fulfillment centers strategically positioned to optimize delivery times.
The startup’s recent funding round has attracted investment from a variety of regional investors, including Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital. Additionally, Rabbit has garnered support from its existing investors, which include Global Founders Capital, Goodwater Capital, Hub71, Simple Capital, and Foundation Ventures.
With its entry into the Saudi Arabian market, Rabbit has set ambitious goals, aiming to deliver a staggering 20 million items across all major cities in Saudi Arabia by the year 2026. The establishment of its regional headquarters in Riyadh is a crucial step in this expansion, allowing the company to launch operations through its network of dark stores, which are strategically located in key neighborhoods throughout the city.
Expressing enthusiasm about the expansion, co-founder Ahmed Yousry stated;
We are delighted to announce Rabbit’s expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households and delivering the best products – especially local favorites – in just 20 minutes. We’re building Rabbit Saudi for Saudis by Saudi hands.
This commitment to local engagement underscores Rabbit’s dedication to tailoring its services to meet the unique needs of Saudi consumers.
