{"id":548274,"date":"2022-08-02T03:45:02","date_gmt":"2022-08-02T03:45:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/"},"modified":"2022-08-02T03:45:02","modified_gmt":"2022-08-02T03:45:02","slug":"homzmart-closes-usd-23-mn-pre-series-b-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/","title":{"rendered":"Homzmart closes USD 23 mn pre-series B round"},"content":{"rendered":"

<\/a> Homzmart <\/strong>just closed<\/strong> one of Egypt\u2019s largest funding rounds <\/strong>this year:<\/strong> Furniture and home goods marketplace Homzmart<\/a> has closed a USD 23 mn pre-series B round, it said in a statement (pdf)<\/a> yesterday. The round saw participation from Saudi VC STV<\/a> as well as existing investors including Impact46<\/a>, Outlier Venture Capital<\/a>, Rise Capital<\/a> and Nuwa Capital<\/a>.<\/p>\n

About Homzmart: <\/strong>Founded in 2019 by former Jumia execs Mahmoud Ibrahim (LinkedIn<\/a>) and Ibrahim Mohamed (LinkedIn<\/a>), the platform\u2019s B2C marketplace allows customers to purchase furniture products from a variety of brands and merchants. The company serves 25 mn households in Egypt and Saudi Arabia and has more than 150k products in its marketplace, it said.<\/p>\n

The company has raised some USD 40 mn to date<\/strong>, having completed a USD 15 mn Series A round<\/a> in 2021 and a USD 1.3 mn seed round<\/a> a year prior.<\/p>\n

Homzmart <\/strong>entered the Saudi market<\/a><\/strong> at the end of last year<\/strong> after tripling its local operations and in January said it was eyeing expansion into South Asian markets<\/a>. It also made a pretty interesting M&A transaction<\/a> back in March, adding a core technology to its business with the acquisition of Berlin-based AI interior design startup MockUp Studio<\/a>.<\/p>\n

** Mahmoud Ibrahim was recently our <\/strong>Founder of the Week<\/a><\/strong>:<\/strong> He talked to us about what led him to setting up his own company and shared some advice for aspiring founders.<\/p>\n","protected":false},"excerpt":{"rendered":"

Homzmart just closed one of Egypt\u2019s largest funding rounds this year: Furniture and home goods marketplace Homzmart has closed a USD 23 mn pre-series B round, it said in a statement (pdf) yesterday. The round saw participation from Saudi VC STV as well as existing investors including Impact46, Outlier Venture Capital, Rise Capital and Nuwa […]<\/p>\n","protected":false},"author":1,"featured_media":548275,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,333,125,95,123,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-homzmart","tag-investment-watch","tag-startup-watch","tag-startups","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"3f62c288-526b-485e-a4e7-5a104484d37b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/118.jpg","photo_position":"above","related_issue":[548266],"teaser":"","voice_url":""},"yoast_head":"\nHomzmart closes USD 23 mn pre-series B round - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Homzmart closes USD 23 mn pre-series B round\" \/>\n<meta property=\"og:description\" content=\"Homzmart just closed one of Egypt\u2019s largest funding rounds this year: Furniture and home goods marketplace Homzmart has closed a USD 23 mn pre-series B round, it said in a statement (pdf) yesterday. The round saw participation from Saudi VC STV as well as existing investors including Impact46, Outlier Venture Capital, Rise Capital and Nuwa […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-02T03:45:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/118.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Homzmart closes USD 23 mn pre-series B round\",\"datePublished\":\"2022-08-02T03:45:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/\"},\"wordCount\":233,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/118.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Homzmart\",\"investment watch\",\"Startup watch\",\"startups\",\"venture capital\"],\"articleSection\":[\"Startup watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/\",\"name\":\"Homzmart closes USD 23 mn pre-series B round - 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The expansion will give Homzmart access to a USD 15 bn market that is growing at a rate of 10% annually.About\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/619.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565941,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/homzmart-raises-usd-15-mn-in-series-a-funding\/","url_meta":{"origin":548274,"position":1},"title":"Homzmart raises USD 15 mn in series A funding","author":"enterpriseam admin","date":"18 May 2021","format":false,"excerpt":"Online furniture marketplace Homzmarthas landed USD 15 mn in a series A round led by China\u2019s MSA Capital and Emirati-Saudi VC firm Nuwa Capital, Menabytesreports, citing a statement by the company. Rise Capital, Impact46, EQ2 Ventures, and Outliers Ventures have also taken part in the round. A MENA expansion is\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542680,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/homzmart-wants-to-grow-its-footprint-in-asia\/","url_meta":{"origin":548274,"position":2},"title":"Homzmart wants to grow its footprint in Asia","author":"enterpriseam admin","date":"11 January 2022","format":false,"excerpt":"Homzmart is eyeing South Asian expansion: Furniture and home goods marketplace Homzmart is targeting expansion into South Asian countries, Al Mal quotes company head Mahmoud Ibrahim as saying. The company entered Saudi Arabia in November, giving it access to a USD 15 bn market that\u2019s growing 10% each year.Local expansion\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/121.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568797,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/online-furniture-marketplace-homzmart-raises-usd-1-3-mn-in-seed-round-funding\/","url_meta":{"origin":548274,"position":3},"title":"Online furniture marketplace Homzmart raises USD 1.3 mn in seed round funding","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"STARTUP WATCH- Online furniture marketplace Homzmart has raised USD 1.3 mn in seed round funding from China\u2019s MSA Capital, the Oman Technology Fund (OTF), and Choueiri Group\u2019s Equitrust, reports Menabytes. The B2C ecommerce platform, founded last year by former Jumia execs Mahmoud Ibrahim and Ibrahim Mohamed, will use the funding\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544441,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/homzmart-acquires-mockup-studio\/","url_meta":{"origin":548274,"position":4},"title":"Homzmart acquires MockUp Studio","author":"enterpriseam admin","date":"3 March 2022","format":false,"excerpt":"Furniture and home goods marketplace Homzmart has acquired Berlin-based startup MockUp Studio for an undisclosed sum, according to a press release (pdf). The tech-enabled interior design startup, founded in 2015, uses AI and computer vision to automatically measure and design a space \u201cto match user styles and the room architecture,\u201d\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545161,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/08\/meet-our-founder-of-the-week-homzmarts-mahmoud-ibrahim\/","url_meta":{"origin":548274,"position":5},"title":"Meet our founder of the week: Homzmart\u2019s Mahmoud Ibrahim","author":"enterpriseam admin","date":"8 March 2022","format":false,"excerpt":"OUR FOUNDER OF THE WEEK- Mahmoud Ibrahim, co-founder and CEO of Homzmart (LinkedIn).My name is Mahmoud Ibrahim, and I\u2019m the co-founder and CEO of Homzmart. 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