MaxAB Recently Secured a $6.2 Million Seed Investment to Expand and Grow
Grace Mahas — September 26, 2019 — Business
References: maxab.io & techcrunch
MaxAB is a Cairo-based startup that works to optimize Egypt's food and grocery supply-chain network for retailers. The B2B e-commerce company uses data-driven technology to re-engineer the traditional food and grocery market by consolidating the supply chain in order to give retailers optimum prices. In addition, MaxAB boasts a 24-hour delivery time to retailers in underserved areas.
In Egypt, the American-based food and grocery suppliers only represent a small fraction of the market and "90% of this $50 billion market gets transacted through small mom and pop shops,” said the MaxAB CEO Belal El-Megharbel. The company is aiming to enter the large demographic and has thus far done so successfully. The triumph of MaxAB has gained notable attention from investors and the e-commerce company recently secured a $6.2 million seed-investment co-led by Beco Capital and 4DX Ventures.
In Egypt, the American-based food and grocery suppliers only represent a small fraction of the market and "90% of this $50 billion market gets transacted through small mom and pop shops,” said the MaxAB CEO Belal El-Megharbel. The company is aiming to enter the large demographic and has thus far done so successfully. The triumph of MaxAB has gained notable attention from investors and the e-commerce company recently secured a $6.2 million seed-investment co-led by Beco Capital and 4DX Ventures.
Trend Themes
1. Data-driven Supply Chain Optimization - MaxAB's use of data-driven technology to re-engineer the traditional food and grocery market presents an opportunity for other B2B companies to optimize their supply chain and offer retailers optimum prices.
2. Expansion in Underserved Areas - MaxAB's ability to offer 24-hour delivery to retailers in underserved areas highlights the potential for other B2B marketplaces to expand their reach and tap into untapped markets.
3. Disrupting Small Mom and Pop Shops - MaxAB's success in entering the market dominated by small mom and pop shops indicates an opportunity for disruptive innovation in the B2B food and grocery industry, allowing new players to attract a significant share of the $50 billion market.
Industry Implications
1. B2B E-commerce - MaxAB's innovative approach to optimize the food and grocery supply chain presents opportunities for other B2B e-commerce companies to enhance efficiency and profitability.
2. Food and Grocery Retail - MaxAB's consolidation of the supply chain and ability to offer optimum prices provide opportunities for food and grocery retailers to streamline operations and compete effectively in the market.
3. Logistics and Delivery - MaxAB's 24-hour delivery service to underserved areas highlights potential opportunities for logistics and delivery companies to expand their services and meet the increasing demand in untapped markets.
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