B2B e-commerce Eighty6 raises $3.7 million Seed round
- UAE-primarily based e-commerce platform Eighty6, has lifted $3.7 million in a Seed spherical, from Sanabil 500 MENA Seed Accelerator Fund, a couple GCC household places of work and other investors.
- Founded in 2021 by Abdul Kader Saadi, Eighty6 is a B2B e-commerce platform that presents a marketplace to greatly enhance conversation and fulfilment in between F&B suppliers and consumers.
- The money lifted will be allotted to maximizing Eighty6’s technological capabilities, growing functions inside of the UAE, and launching in Saudi Arabia and Kuwait.
Eighty6, the foremost on the net procurement system for dining places in the United Arab Emirates, has productively elevated $3.7 million in a Seed spherical of funding. The round integrated Sanabil 500 MENA Seed Accelerator Fund and notable GCC household workplaces and strategic investors who have a comprehensive grasp of the food and beverage field, encompassing both the cafe and supplier sides.
Eighty6’s mission is to reduce time expended on procurement, from both equally the cafe and supplier’s perspectives, and reduce mistakes, gaps and foods wastage. Its driving goal is to reach considerable efficiencies by leveraging know-how to streamline and digitize the day by day procurement procedure, which is at the moment obsolete, labour-intensive, and time-consuming. This will allow suppliers to augment their profitability by boosting their income quantity though permitting the potential buyers to advantage from greater transparency and value price savings.
“Our system gives a tech-focused resolution that addresses the suffering details faced on a daily foundation by operators and suppliers,” claimed the founder, Abdul Kader Saadi who has amassed 30 many years of expertise in the F&B business. “With Eighty6, the users are empowered with deep details and can anticipate to profit from device understanding abilities in the upcoming.”
The cash lifted will be allotted towards improving the technological abilities Of the platform, growing operations in just the UAE, and launching in KSA and KWT, thus enabling a broader spectrum of F&B ecosystems to reward from the ground breaking answers available by Eighty6.
“We are delighted to have Apostolos Binomakis and Mohamad Bhojani becoming a member of our board of administrators,” stated the founder. “Both of those are seasoned gurus with comprehensive information and abilities in their domains – finance and e-commerce, respectively. Their expertise will participate in a pivotal purpose in our endeavours to scale our operations and reach our subsequent milestones.”
Eighty6 is presently engaged in an intensive recruitment travel, together with making its Saudi crew, doubling the size of its tech workforce, and initiating the hiring method for its Kuwait start. “We purpose to assist suppliers minimize the costs incurred in taking care of day by day orders and prolong their market reach though giving purchasers a smoother and additional clear alternative to approach their daily procurement requirements,” mentioned the founder.
Ms. Amal Dokhan, Normal Partner with 500 World wide MENA claimed, “I am thrilled to assist the eyesight and likely of Eighty6. We strongly believe in the team’s potential to execute our vision and look ahead to observing them make a substantial effects in the F&B field.”