Qara fuels Saudi expansion plans with funding round: Supply chain tech startup Qara has successfully closed a USD 2.6 mn funding round led by strategic investors, the company said in a press release (pdf). EnterpriseAM spoke to CEO and co-founder Hassan Abouzeed to learn more about the startup and what it plans to do with the fresh funds.

Qara? The startup has developed a platform that enables manufacturers to verify product authenticity, streamline supply chain operations, and make data-driven decisions. Its flagship app, Asly, allows users to scan unique QR codes to verify the authenticity of products, combat counterfeiting, and access warranties and detailed product information. Qara has authenticated over 28 mn product units across Egypt, Saudi Arabia, and Kenya, connecting manufacturers with over 50k business users.

All roads lead to Riyadh: As part of the startup's expansion plans — which the funding round will help support — the first step is to further expand in Saudi Arabia, Abouzeed told EnterpriseAM. Qara has been in the kingdom for the last six months and has active clients there after it was one of 15 global companies selected for relocation incentives from the Saudi National Technology Development Program’s (NTDP) Relocate Initiative, but it’s looking to expand its footprint in the country further because “we can grow and totally disrupt the market in Saudi Arabia,” Abouzeed added.

Qara has its eyes on the rest of the region and beyond once it makes its mark on the kingdom: “The obsession right now is success in KSA — hands down,” but the priority after this is the UAE, the entire region, and then Europe and Africa, Abouzeed told us. The company’s SaaS model makes the product scalable across different geographies without having to be there in person, Abouzeed explained.

The startup is also looking to develop its platform into a more scalable product: The startup will further develop its platform so ‘it is a scalable model that would enable us to expand into other countries — like we did last year in Kenya and Saudi Arabia,” Abouzeed told us.

We should be hearing from Qara about another funding round soon: Qara plans to launch a new funding round in spring 2025 to further its product development and fuel international growth, Abouzeed announced to us.

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