Omniful, the hyperlocal e-commerce platform, has successfully raised $5.85 million in a seed funding round led by VentureSouq, with participation from notable investors including 500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, RZM Investments, and family offices such as Al Rasheed, Siraj Holding, Al Bawardi, Al Nafea, along with strategic angel investors from the GCC.
The company, co-headquartered in Saudi Arabia and the UAE, with a research and development hub in India, plans to utilise the freshly secured capital to strengthen its foothold in existing markets, initiate sales and marketing activities in new countries within the region, and focus on advancing its technology development.
Founded in 2021 by Mostafa Abolnasr and Alankrit Nishad, Omniful offers a unified next-generation order management system, warehouse management system, and transport management system to merchants and third-party logistics fulfilment providers. The cloud-based platform, built for flexibility through dynamic configurations rather than traditional customisation, aims to empower businesses in the ever-evolving e-commerce landscape.
Mostafa Abolnasr, Co-founder and CEO of Omniful, expressed excitement about the company’s growth prospects. He stated, “Our seed round marks a major milestone, and together with our investors, we are excited about going out of stealth and launching our sales and marketing efforts in MEA and India, followed by Europe and the USA.” Abolnasr highlighted the importance of hyperlocal and omnichannel commerce, catering to consumer expectations for faster delivery and a personalized experience.
Omniful’s platform addresses the complexities faced by merchants in managing multiple online sales channels, points of sale, brands, warehouses, suppliers, fulfilment hubs, manual processes, and delivery partners. The cloud-based solution offers a plug-and-play approach, seamlessly integrating order management, warehouse management, and transport management systems.
As the e-commerce industry continues to surge, Omniful aims to enhance efficiencies for merchants, improving operational effectiveness by 40% and boosting customer retention by 15%. The company envisions becoming a pivotal player in the over $4 trillion industry, providing merchants with a comprehensive platform to navigate the intricacies of the modern e-commerce landscape.
Editor Desk
Verified JournalistDiscover the latest startup, business, and funding news. Get insights on trends, IPOs, mergers, and acquisitions. Perfect for entrepreneurs, investors.