21. September.2021 – Egypt-based Cartona announced that it raised US D 4.2 Million pre-Series A round. This funding round was led by Global Ventures, a Dubai-based VC firm.
The participants of this round were Kepple Africa, a Pan-African VC firm; T5 Capital and some of the angel investors also participated.
Future plans of Cartona might include horizontal and vertical product expansion into sectors like pharmaceuticals, electronics and fashion.
Words from the investors –
The general partner at Global Ventures, Basil Moftah, said that not owning inventory and Cartona’s technology proved the necessity of investment to back the company.
“The trade market is one of the most sophisticated, yet [it is] characterized by multiple critical inefficiencies across the value chain,” he said. “Cartona’s asset-light approach tackles those inefficiencies by optimizing the trade process in unique ways and does so with minimal capital spent.”
About Cartona –
Cartona is headquartered in Cairo and was initiated in August 2020, by Mahmood Talaat, who founded the company alongside Mahmoud Abdel-Fattah. It focuses on solving the operational challenges and supply chain of the companies in the fast-moving consumer goods (FMCG) sector by aiding buyers (retailers) to buy products from different sellers (wholesalers, distributors, FMCG companies) on a single platform.
The major impedance that retailers in most of the regions in Africa’s face are mainly the limited access to suppliers and the transparency in the market. The suppliers also face problems like the inability to make data-backed decisions due to lack of data, to improve margin and track growth.
“The trade market is completely inefficient and it’s not good for the supplier nor the manufacturers, and it’s definitely not good for retailers,” CEO Mahmoud Talaat. “So we came up with the idea of Cartona, which is basically a fully light-asset model that connects manufacturers and wholesalers to retailers.”
“I believe that the infrastructure already exists. We already have many warehouses, many small and medium-sized entrepreneurs, and wholesalers and distributors and companies that have a lot of assets. If you want to fix the problem, we think one should enable the people who are strategically located in small streets all over Egypt and have the infrastructure but don’t have the technology needed to optimize their warehouses and carts.” – CEO Mahmoud Talaat.
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