Cairo: Egypt-based B2B marketplace connecting restaurants to suppliers, OneOrder, announced closing a $3 million seed round led by Nclude as well as returning investor A15. This brings the company’s total investment to $10.50 million.

New to the round is Delivery Hero Ventures, a fund backed by global food delivery giant Delivery Hero, whose managing partner, Brendon Blacker, joins the OneOrder board, according to a press release.

Since its launch, the company has raised a total of $10.50 million in funding, including an initial $1 million pre-seed investment led by A15 and $6.50 million in working capital financing from multiple local financial institutions.

OneOrder will use the investment to bolster its operations by growing its warehouse footprint to gain further market share as well as invest in its proprietary technology.

In addition, the technology-powered food and hospitality platform will deploy additional capital into scaling its offline presence and expand its warehouse footprint across Egypt and the MENA region. 

Founded by Tamer Amer and Karim Maurice, OneOrder works to enable restaurants to source food and their daily procurement needs directly from local suppliers.

Basil Moftah, Managing Partner at Nclude, said: “The product-market fit of the OneOder solution is very impressive, along with the positive impact it is delivering to all stakeholders in the value chain. Through the use of technology and alternative data, OneOrder’s embedded financing will help underserved clients who are unable to secure traditional financing. This aligns perfectly with our investing philosophy and we are glad to be embarking on this journey with the team.”

In Egypt alone, OneOrder has a total addressable market (TAM) of 400,000 restaurants that on aggregate spend $40 billion annually. The lack of vertically integrated supply chains sees these restaurants spend between 6-7% of their revenues to ensure supply chain stability.