Omniful secures USD 5.85 mn in funding: UAE and Saudi-based supply chain and e-commerce startup Omiful has raised USD 5.85 mn in a seed round, according to a press release. The round was led by Venture Souq, with participation from 550 Global, Dash ventures, Jahez Group, Seedra Ventures, Bunat Ventures, Hala Ventures, RZM Investments, and several GCC-based angel investors and family offices, the statement said.

What will the funds be used for? The company will deploy the raised capital to strengthen its position in existing markets, launch sales and marketing activities in new markets in the region, and ramp up technology development, according to the statement. “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 Co-founder and CTO Alankrit Nishad said.

They are also looking to bring aboard a new class of customers: Omniful is looking to reel in 3PL clients that provide e-fulfillment and storage to e-commerce brands, according to a statement by co-founder and CEO Mostafa Abolnasr.

This latest round has brought Omniful out of stealth mode and out in the open: “Our seed round marks a major milestone, and together with our investors, we are excited about going out of stealth and launching our sales and marketing efforts in MEA and India, followed by Europe and USA,” Abolnasr said.

About Omniful: Founded in 2021 by Abolnasr (Linkedin) and Alankrit Nishad (Linkedin), Omniful is software-as-a-service (SaaS) provider focused on retail technologies, according to its website. The startup has operations in KSA, the UAE, and India and provides a range of software solutions allowing merchants to leverage omnichannel commerce and enabling ordering, warehouse and inventory management, and transport management, Techcrunch reported.

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