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Tech News & Podcast | Africa

How Omniful Raised $5.85M to Revolutionize E-commerce and Supply Chain Management

Omniful is a SaaS platform that helps retail businesses manage their omnichannel operations, such as order fulfilment, inventory control, shipping automation, and returns management. 

Omniful, an e-commerce and supply chain enablement firm, has officially launched by revealing $5.85 million in seed funding sponsored by VentureSouq. Investors including 500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, RZM Investments, and family offices like Al Rasheed, Siraj Holding, Al Bawardi, and Al Nafea also participated in the investment round.

Mostafa Abolnasr and Alankrit Nishad launched the business in 2021, and it now has offices in Saudi Arabia, the United Arab Emirates, and India.

The firm intends to use the financing to expand its customer base globally, including markets in Africa and India. Additionally, Omniful’s platform gives third-party logistics providers tools to improve their workflows.

Facilitating Effective Supply Chain Administration

Mostafa Abolnasr, co-founder and CEO of Omniful, and Alankrit Nishad were motivated to start the business by the problems that merchants faced. Managing inventory flows, assuring stock accuracy, coordinating many sales channels, and maximising picking and fulfilment times are some of these trouble areas. According to Abolnasr, market research showed that the current software solutions were costly, time-consuming to implement, hard to scale, and unable to satisfy consumer expectations.

“Our first goal was to reconstruct the supply chain, hyperlocal omni-channel retail, and e-commerce technologies that are in use today and will be in the future. This forced us to reconsider almost every feature from the ground up, with a strict focus on four key areas: efficiency, speed, accuracy, and scale, according to Abolnasr.

Omniful has created a wide range of ordering, warehouse, and transport management systems. With the help of these solutions, businesses can effectively manage their orders and inventory in real-time while taking advantage of hyperlocal and omnichannel commerce. Additionally, the platform gives third-party logistics providers (3PLs) the resources they require to optimise their processes.

Growing Internationally

With the ability to process at least three million orders daily for each client, Omniful is a good fit for companies looking to expand. The business also intends to increase the number of its clients on other continents, such as Africa and India, where it currently maintains a research and development facility.

Omniful has a lot of room to grow because, in our opinion, its applications are really broad. Trade is ingrained in our history here in the MENA region. Omniful can enable this region’s well-established legacy of excellent retail franchises to become more competitive in a more dynamic environment. This was stated by Tammer Qaddumi, general partner of VentureSouq.

With applications already discovered in numerous sizable markets, Omniful is versatile, global, and universal. In our honest opinion, Omniful is a global solution that can grow to be indispensable to any home company and aid in the standardisation of procedures for international trade.

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