We Got Funded: Bulk Grocery E-Commerce Platform BulkWhiz Closes Series A Round To Invest In AI Tech
The team aims to continue offering a personalized grocery shopping experience, as well as build new channels and new markets.
BulkWhiz, an AI-powered bulk grocery e-commerce platform in the Middle East, has successfully closed its Series A funding round. The investment round was led by BECO Capital, along with 500 Startups, and new investors China-based MSA Capital and Kuwait's Capital Faith.
Founded in 2017 by Amira Rashad, with the idea to ease lives and reduce the task and cost of grocery shopping for families and small businesses by offering bulk grocery, BulkWhiz built its own proprietary AI that learns consumer behavior and personalize the experience to their needs. Since its launch, co-founder and CEO Rashad commends that their initial AI has "built the foundation for personalizing the customer experience, and for realizing efficiency across the value chain, enabling us to own our entire supply chain at a fraction of the traditional cost."
And with the new capital infusion, they're investing it back to their core tech- Rashad notes that it will be used to continue improving and building their AI to continue offering a personalized grocery shopping experience, as well as build new channels and new markets. Plus, with their new investors who are both from in and out of the MENA region, the team perceives their new partners would give them a boost with their global experience and operational expertise.
Commenting on the funding round, Rashad is keen on scaling their startup to further to address the market opportunity in MENA using their tech. "As a mom, I am acutely aware of the challenges of grocery shopping from wasted time, and running out, to not getting proper service or value for money. Frankly, I am excited that BulkWhiz is addressing all these challenges one by one for MENA consumers."
As they continue to grow, Rashad says they're focused on "building the right organization with the right talent," as well as investing in their tech and product to further boost their growth. To entrepreneurs seeking funds, Rashad advises to remember to "give the process enough time, be prepared with the required assets and numbers, choose the right partners who will be in it for the long haul."