5 November 2024, Tue |
3:32 PM
UAE-based startup Supy has raised $1.5m in funding. COTU Ventures, located in the UAE, and Valia Ventures, based in the United States, co-led the round (marking their first investment in MENA).
Given the numerous channels of communication available, including WhatsApps, voice messages, phone conversations, and emails, the worldwide F&B industry, particularly in the MENA region, suffers from severe inefficiencies in the ordering process. This disjointed and time-consuming method causes a slew of issues for all parties involved, including excessive costs, waste, poor deliveries, incorrect orders, and so on.
Restaurants of all sizes can utilise Supy’s simple solution to optimise their ordering process and gain access to real-time analytics and relevant procurement data. Creating a digital trail and improving efficiencies between suppliers and restaurants would result in immediate cost savings and a considerable reduction in wastage, which is a major issue in the food and beverage business today.
Supy was co-founded by CEO Dani El-Zein, who was previously the COO of Quiqup, and CTO Ibrahim Bou Ncoula, who was one of Careem’s first Senior Engineers, in January 2021. In just a few months, the platform has grown rapidly, now powering over 1,000 restaurants and suppliers across the UAE, including well-known brands like Tashas Group, Pinza, Akiba Dori, One Life DXB, and Popeyes.
Dani El-Zein, Co-Founder and CEO of Supy, said: “Having spent the past decade in both the technology and F&B industries, I experienced first-hand the countless pain points that exist for both restaurants and suppliers when it comes to the ordering process. This is not just a local problem, but a global one that plagues all stakeholders in the industry. We are on a mission to become a global leader in this space and our early traction is already a testament to the power of our platform.”
Ibrahim Bou Ncoula, Co-Founder and CTO of Supy, said: “In my past years, I’ve built several services out of the UAE for the region. I became drawn to solving complex problems that simplify people’s lives. With Supy, the opportunity to create an impact is enormous. Procurement in f&b is inefficient and unsustainable. We aim to build seamless, world-class integrated software to transform this industry into scalable, efficient, and sustainable.”
Amir Farha, Founder and GP at COTU Ventures “We’re really excited to partner with Dani and support him in his vision to optimize the supply chain of restaurants through Supy. His deep understanding of the customer and the problem he’s solving, as well as his prior experience, made it a very clear investment decision for us. We are honored that he chose to partner with us on this adventure and look forward to seeing Supy grow into a household name in the restaurant industry.”
Khaled Jalanbo, Founder and GP at Valia Ventures: “We are proud to be partnering with Supy as they continue to build the software that will change the procurement process for restaurants and suppliers globally. Dani has the ideal product and operational experience to build an iconic company in this category and we’re strongly committed to supporting his vision.”
