Iraq-based e-commerce startup Orisdi secured a USD six-figure investment in a bridge round in August, according to a press release. Contributions were made by existing shareholders and new participants, including Baghdad-based media company Al Sharqiya TV Group and angel investors. The latest round brings Orisdi’s total investments to a value exceeding USD seven-figures and comes on the heels of a USD 220k bridge round investment secured in February.

The funds are earmarked for cross-border expansion + the launch of a new app: “We’ll allocate funds to develop our cross-border commerce division by launching Orisdi Global, a new app enabling customers to seamlessly shop from international e-commerce brands from the US and with access to a wider variety of mns of products, with Orisdi managing logistics for doorstep deliveries across Iraq,” Orisdi Cofounder and CEO Ahmed Al Kiremli said. “We plan to extend this service to other international markets, including the GCC, China, Turkey, and Europe,” he added, without disclosing an exact timeline.

Orisdi’s sales have seen substantial increases so far this year: The company saw its net gross merchandise value increase 73% y-o-y in July, the statement said.

About Orisdi: Founded in 2019 by Ahmed Al Kiremli (LinkedIn) and Hala Usama (LinkedIn), Orisdi is a retail-focused e-commerce platform, according to its website. Orisdi’s holding company is registered with Abu Dhabi Global Market (ADGM), the statement adds.

Tags: