Egyptian startup Qara, specializing in supply chain technologies, has successfully secured $2.6 million in funding from a group of strategic investors. This funding comes as part of the company’s ambitious plans to expand its operations into Saudi Arabia.
Ambitious Plans for Growth and Expansion
The company aims to utilize the funding to enhance its services and develop its technologies. In a recent media statement, Hassan Abouzeid, CEO of Qara, revealed that the company is preparing for a new funding round by Spring 2025, which will focus on product development and global market expansion.
Innovative Solutions for Supply Chain Optimization
Qara has developed a technological platform designed to help manufacturers verify product authenticity and improve supply chain efficiency. Its flagship product, “Asli,” enables users to scan QR codes to confirm product authenticity, combating counterfeiting and building trust between manufacturers and consumers.
Company Achievements
- Verified over 28 million product units across key markets, including Egypt, Saudi Arabia, and Kenya.
- Connected manufacturers with over 50,000 business users, strengthening its commercial partnerships and supporting supply chain operations.
Expansion Strategy
Qara’s comprehensive growth strategy includes:
- Enhancing the platform’s scalability to enter new markets.
- Expanding within the Gulf region, starting with the UAE, and targeting European and African markets in the future.
- Launching a new funding round in Spring 2025 to support product development and international growth.
SaaS Model Driving Global Reach
Qara leverages the Software-as-a-Service (SaaS) model, allowing the company to offer its solutions without the need for a physical presence in its target markets. This model facilitates rapid expansion into new regions while reducing operational costs.
.
