Saudi E-Commerce Startup Omniful Raises $5.85 Million Seed Round
The round was led by VentureSouq and saw participation from 500 Global, DASH Ventures, Jahez Group, and SEEDRA Ventures.
Omniful, a Saudi cloud-based supply chain and e-commerce platform, has successfully raised $5.85 million in its seed funding round. The round was led by VentureSouq and saw participation from investors such as 500 Global, DASH Ventures, Jahez Group, and SEEDRA Ventures, among others. The funding will be used to strengthen Omniful's position in existing markets and expand its sales and marketing efforts in new countries.
Founded in 2021, Omniful offers a comprehensive solution for merchants and third-party logistics providers, combining order management, warehouse management, and transport management systems. The platform enables real-time inventory management across various sales channels, allowing businesses to streamline their supply chain operations and provide superior customer experiences.
“80% of our team are engineers. As a product-led organization, our technology is a clear differentiator, making us the platform of choice for omnichannel merchants and high-volume 3PL fulfillment providers," Alankrit Nishad, co-founder and Chief Technology Officer of Omniful told StartupScene. "Over the next year, we will double down on growing our technology capabilities in India, while also planning for the launch of our platform there."
Omniful aims to address the challenges faced by merchants, including managing multiple sales channels, warehouses, and delivery partners. By integrating with different sales channels, the platform enables accurate order fulfillment and timely delivery, regardless of the chosen mode of shopping.
The company has already made significant strides in the market, with its customers experiencing a 35% increase in monthly revenue on average and over 96% of orders shipped on time and in full. Omniful's plug-and-play platform can be customised through dynamic configurations, providing flexibility and efficiency for omnichannel brands.
Omniful's technology-driven approach has been a key factor in its success, with a focus on product development and engineering. The company plans to further enhance its technology capabilities in India and expand its platform in the coming year.
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Jan 31, 2024