Egyptian supply chain technology startup Qara has successfully raised $2.6 million in a funding round aimed at supporting its expansion into Saudi Arabia. Qara offers producers a comprehensive digital platform that ensures product authentication and full traceability to the end consumer. This platform also enables businesses to connect with their entire market, leveraging insights for smarter, data-driven decision-making.
The company has already collaborated with over 35 manufacturers and product suppliers, authenticating more than 28 million product units. It has connected these suppliers with over 50,000 business users across the supply chains in Egypt, Saudi Arabia, and Kenya.
The newly secured $2.6 million in funding comes from strategic investors and will facilitate Qara’s further expansion into Saudi Arabia. This expansion will be supported by the National Technology Development Programme’s (NTDP) Relocate Initiative, which provides a range of attractive incentives and support elements to ensure a smooth and efficient integration into the Saudi tech ecosystem.
“I believe the challenges we’re addressing meet a significant global demand. After three years of achieving a successful product-market fit in Egypt, Qara is now ready for international expansion. We are excited that our first step is into the Kingdom of Saudi Arabia, where our mission aligns perfectly with the Saudi Vision 2030 objectives to foster value creation through innovation and technology,” said Qara co-founder and CEO Hassan Abouzeed.
“Our aim is to revolutionize manufacturers’ B2B2C marketing and distribution capabilities through innovative digital solutions. Qara’s team believes in the economic and social value our platform brings by verifying product authenticity, providing supply chain visibility, eliminating redundancies, and delivering better outcomes for every participant in our ecosystem,” he added.
