MaxAB raises $6M seed round to optimize Egypt’s B2B grocery markets
Cairo-based startup MaxAB looks to optimize the supply-chain network for Egypt’s food and grocery retailers.
The B2B e-commerce company raised a $6.2 million seed-investment co-led by Beco Capital and 4DX Ventures. Others co-leaders included 500 Startups, Endure Capital and Outlierz Ventures.
Founded in 2018, MaxAB has built a digital platform to manage procurement and delivery of grocery products to shops in Egypt. The startup’s developer team created an app for store owners to purchase goods, another logistics app for its delivery fleet and one for its customer support team.
MaxAB’s target market is small-scale retailers in Egypt who sell to the country’s 100 million population.
“The Walmarts and the Krogers and Walgreens of Egypt only represent 10% of the market; 90% of this $50 billion market gets transacted through small mom and pop shops,” MaxAB CEO Belal El-Megharbel told TechCrunch on a call from Cairo.
Both saw an opening to reduce cost and complication in Egypt’s B2B food and grocery markets.
“It’s a very segmented supply-chain. Small
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