Kemitt, an e-commerce startup headquartered in Egypt, has secured an undisclosed six-figure amount in funding from a group of Saudi Angel investors.
Founded in 2018, Kemitt is a marketplace that enables product and furniture designers to connect with their end customers. Kemitt provides an online platform to product designers and gives them the tools they need to sell their uniquely designed furniture pieces and increase their overall revenue by reaching new online customers.
The funding will be used to support Kemitt’s expansion and operational growth plans; as well as helping the company further develop its tech, and enter new markets in the region, starting with Saudi Arabia.
“We are very excited about the opportunity that this investment gives us, it will enable us to scale up our operations and expand to new markets. We invest in tech to drive growth, and we have prioritized solving logistical pain points to ensure a smooth journey from the factory to the customer’s home.”
“We believe that digitizing the furniture industry in the region is crucial for the local economy. After all, our goal is to put Kemitt as a first choice when you consider furniture shopping, ” Mahmoud Fouad, co-founder, and CEO of Kemitt said.
According to a report by Partech Partners, 86 venture capital equity deals were completed by tech startups in Egypt in 2020. No other African country had as many deals. In 2021, it’ll be interesting to see whether Egypt retains its position as the African country with the most equity deals.