Supy, a UAE-based startup digitizing the communication process between restaurants and suppliers, today announced that it has raised US$ 1.5mn in pre-seed funding. The round was co-led by UAE-based investor COTU Ventures and US-based Valia Ventures (marking their first investment in MENA).
The global F&B industry, particularly throughout the MENA region, suffers from significant inefficiencies across the ordering process given the many channels of communication including WhatsApps, voice messages, phone calls, and emails. This fragmented and time-consuming approach leads to numerous problems for all stakeholders including unnecessary costs, wastage, suboptimal deliveries, wrong orders being placed, and so much more a press statement indicated.
With Supy’s easy to use solution, restaurants of all sizes can streamline their ordering process as well as benefit from real time analytics and actionable insights when it comes to procurement. Creating a digital trail and optimizing efficiencies between suppliers and restaurants will directly lead to cost savings and significantly reduce wastage which is an inherent problem that plagues the F&B industry today.
Supy was co-founded in January 2021 by its CEO Dani El-Zein, previously COO at Quiqup, and CTO Ibrahim Bou Ncoula, who was one of Careem’s first Senior Engineers. In just a few months, the platform has witnessed rapid growth and already powers over 1,000 restaurants and suppliers across the UAE the press communiqué concluded.
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.”