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Sunday, December 10, 2023

Mena-focused supply chain platform Omniful raises $5.85 million Seed for expansion

Mena-based supply chain and e-commerce enablement startup Omniful ↗has raised a $5.85 million Seed round, led by VentureSouq, with participation from 500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, and RZM Investments, along with family offices including Al Rasheed, Siraj Holding, Al Bawardi, Al Nafea, and a number of GCC angel investors.

Founded in 2021 by Mostafa Abolnasr and Alankrit Nishad, Omniful provides merchants and 3rd party logistics (3PL) fulfilment providers with a unified next generation order management system (OMS), warehouse management system (WMS) and transport management system (TMS) to build, grow, and scale their businesses. Omniful ensures real-time inventory management across a diverse range of integrated sales channels, both digital and physical. In streamlining the entire supply chain journey, Omniful customers are able to manage inventory flow irrespective of where orders originate from, to create superior experiences for end-consumers.

“The future of commerce is hyperlocal and omnichannel, with consumers expecting brands to be closer to them, to deliver faster and offer a personalised experience. At Omniful, we are equipping merchants in this $4+ trillion industry, with a single platform to manage all of their sales channels, deliver on-time and in-full, improving their efficiencies by 40% and their customer retention by 15%. 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 USA,” said Mostafa Abolnasr, co-founder & CEO.

Following its seed round, the company will deploy capital to strengthen its position in existing markets, launch sales and marketing activities in new countries in the region, and double down on its technology development.

Built in the cloud, Omniful’s plug-and-play platform can be completely tailored, not through customization, but via dynamic configurations. Whether consumers choose on-demand delivery, “buy online, pickup in-store” (BOPIS), scan-and-go or other modes of shopping, the integration with all sales channels means Omniful clients can accurately pick and pack these orders and deliver them on time. 

Omniful’s merchants can deliver in extremely short time periods (less than 60 minutes) from retail stores, with 95%+ inventory accuracy, and 96% on-time in-full metrics. Its API-first approach allows for seamless integration with global and local e-commerce platforms, marketplaces, ERP, POS, or shipping tech stacks. This creates unparalleled efficiencies for omnichannel brands that want to deliver a world-class experience to their end consumers.

“80% of our team are engineers. As a product-led organization, our technology is a clear differentiator, making us the platform of choice for omnichannel merchants and high-volume 3PL fulfilment providers. Over the next year, we will double down on growing our technology capabilities in India, while also planning for the launch of our platform there,” said Alankrit Nishad, co-founder & Chief Technology Officer. 

Since its launch, Omniful has attracted leading omnichannel brands including 3 of the top 10 retailers in Saudi Arabia (Panda, Spar and Sadhan), as well as Catrion (Saudi Airlines Catering Company) and other leading brands from across the region.  Omniful is already working with the largest 3PL ecommerce fulfilment Providers in the MENA region including, Ollkom, Safe Choice, UWC, Stogo, and others.

With Omniful’s integrated products including OMS, TMS, and WMS, customers can manage multiple brands within the same account, unlocking significant opportunities for 3PL fulfilment providers serving e-commerce merchants. Through just one platform, clients can manage sellers, orders, warehousing, shipping, catalogues, inventory updates and more.

 “We see Omniful as having uniquely far-reaching applications, giving it lots of space to run. Here in MENA, the concept of trading is embedded in our history. This region has an established tradition of great retail franchises, which Omniful can help to enhance, making them more competitive in an increasingly dynamic environment. Omniful is universal, adaptable and global, having already found use cases across multiple large markets. We genuinely see Omniful as a borderless solution that can become essential to any domestic business and also play a role in unifying processes for cross-border operations,” said Tammer Qaddumi, General Partner at VentureSouq.

Omniful is co-headquartered in the Kingdom of Saudi Arabia and the United Arab Emirates, with a Research and Development Hub in India. The company currently employs over 50 people from six countries. To know more, visit www.omniful.com.

James Mackreides
James Mackreides
'Mac' is a short tempered former helicopter pilot , now a writer based in Sofia, Bulgaria. Loves dogs, the outdoors and staying far away from the ocean.

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