A startup that realizes supply chain and e-commerce, omnifulltoday announced a $5.85 million venture led by VentureSouq with participation from 500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, RZM Investments, and several family offices including Al Rasheed, Siraj Holding, Al It emerged from stealth with seed funding. Bawardi, Al Nafea.
The UAE and Kingdom of Saudi Arabia (KSA)-based startup builds systems for ordering, warehousing, and transportation management to help sellers leverage hyperlocal and omnichannel commerce to efficiently manage orders, allowing you to manage your inventory in real time. It also allows third-party logistics providers (3PLs) to efficiently manage workflows.
Mostafa Abolnasr, co-founder and CEO of Omniful, told TechCrunch that most retail companies are faced with the challenges of coordinating different sales channels, managing inventory flow, inventory accuracy, and picking and fulfillment times. He said the pain points for traders inspired him and Alankrit Nishad. If you have experience in e-commerce, get started. In addition, market research has shown that traditional software does not meet customer needs, is difficult to scale, is expensive, and takes time to implement, Abornsah said.
“We started with a vision to reimagine the technologies used today and in the future to operate supply chains, hyperlocal omnichannel retail, and e-commerce. We basically had to rethink every feature based on first principles and focused absolutely on four pillars: speed, accuracy, scale, and efficiency,” said Abornasr, adding that small sellers He added that he was also keen to reach out to the public.
“We’re looking at it from an impact and issue release perspective.”
Omniful provides merchants and third-party logistics providers with solutions that include tools for insight. image credits: Omniful
Large enterprises and small merchants using the technology will be able to leverage a variety of sales channels, reduce labor costs per store, and reduce fulfillment times by up to 40% and 70%, respectively.
Initial customers for Omniful’s globalized products include major retailers and third-party logistics providers in several markets, including Saudi Arabia and the United Arab Emirates.
Abornasr said the company’s technology can process a minimum of 3 million orders per day per customer, making it suitable for customers seeking growth. This also sets the stage for growth plans that include expanding the customer base in other parts of the world, including Africa and India, where R&D centers are located.
“We believe Omniful has its own wide range of applications and offers a lot of space to run. Here in MENA [Middle East and North Africa], the concept of trading is embedded in our history. There is a well-established tradition of excellent retail franchises in the region and Omniful will strengthen that and give us a competitive edge in an increasingly dynamic environment,” said Tammer Qaddumi, General Partner of VentureSouq. says Mr.
“Omniful is universal, adaptable, and global, and has already found use in several large markets. We truly believe that it is a borderless solution that can also serve as an integrator.”
Source: techcrunch.com
