Egypt's B2B Marketplace Cartona raises $4.5m Pre-Series A

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Updated 21 September 2021
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Egypt's B2B Marketplace Cartona raises $4.5m Pre-Series A

  • The Egypt-based team plans to use its newly acquired funds to further develop its Tech Stack
  • MENA-based E-commerce startups have observed steady growth this year

Cartona, the Egypt-based B2B platform connecting retailers to manufacturers and wholesalers, has successfully raised $4.5 million in its latest funding round, led by Global Ventures, MAGNiTT reported.

Kepple Africa Ventures, T5 Ventures, and a group of key angel investors also participated in leading the Pre-Series A round.

The Egypt-based team plans to use its newly acquired funds to further develop its Tech Stack, launch new products and expand geographically across Egypt. The technology stack is a combination of programming languages, frameworks, and tools that developers use to build a web or mobile app.

Cartona was launched in August last year to digitize the traditional, predominantly offline trade market in Egypt, enabling grocery retailers to order their store needs digitally from a curated network of sellers.

Since its launch, Cartona has aggregated over 30,000 users in Cairo and Alexandria. It has processed over 400,000 delivered orders with an annualized gross merchandise value of  over $63 million. 

Cartona works with 100 fast moving consumer goods (FMCG) companies, 1,000 distributors, and wholesalers, offering consumers over 10,000 products listed on its platform including dry, fresh, and frozen food.


MENA-based E-commerce startups have observed steady growth this year, according to MAGNiTT's August 2021 Venture Investment Dashboard.

The E-commerce industry has been the second most active and third most funded industry in MENA over 2021 year to date, driven by an eight percent year-on-year increase in number of deals closed in the region, and a solid 78 percent year-on-year growth in amount of funding.


Mawani, Qatar Ports ink cooperation deal to boost regional maritime trade 

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Mawani, Qatar Ports ink cooperation deal to boost regional maritime trade 

RIYADH: The Saudi Ports Authority, or Mawani, and Qatar Ports Management Co. signed a memorandum of understanding aimed at boosting maritime and logistics cooperation, contributing to the development of the ports sector, raising operational efficiency, and supporting regional and international trade flows. 

The MoU was signed by Mawani President Suliman Al-Mazroua and Qatar Ports Management Co. CEO Abdullah Mohammed Al-Khanji, in the presence of Qatari Ambassador to Saudi Arabia Bandar bin Mohammed Al-Attiyah. 

The step reflects both sides’ commitment to building effective partnerships, exchanging expertise, establishing an organized framework for cooperation management, and developing joint investment opportunities in line with Saudi Vision 2030 and Qatar National Vision 2030. 

The MoU outlines eight key areas of cooperation, including the exchange of best practices in port management and operations, and studying opportunities for direct maritime and land connectivity between the two countries’ ports to enhance trade efficiency. 

It also includes collaboration in logistics services, exploring the establishment of joint maritime corridors serving bilateral and regional trade, and assessing the feasibility of creating shared regional distribution centers. 

Both parties agreed to enhance cooperation in digital transformation and artificial intelligence, focusing on smart systems, data governance, and a unified maritime window to improve operational efficiency and remain at the forefront of technological progress in the maritime sector. 

The MoU emphasizes maritime safety and environmental protection, including the exchange of expertise on marine pollution control and emergency response, the development of joint maritime emergency plans, and the establishment of a bilateral emergency communication line.  

It also promotes collaboration to ensure compliance with international conventions, conduct joint exercises, and implement risk-monitoring systems. 

Cooperation further extends to human capital development through joint training programs and on-the-ground expertise exchanges, as well as academic and research partnerships in maritime transport and logistics. 

Regarding joint investment, both parties will explore local and international opportunities in ports and related services, coordinating with the private sector to support these initiatives. 

The MoU also includes cooperation in cruise tourism through enhanced maritime connectivity and joint promotion of Gulf cruise routes, as well as coordination of positions in international maritime organizations and support for joint initiatives, notably “Green Ports” and “Safe Sea Corridors.” 

This memorandum reflects the commitment of Mawani and Qatar Ports Management Co. to advancing the ports sector and boosting its role as a key driver of trade and economic growth, contributing to Gulf integration, and enhancing regional competitiveness in maritime services.