STARTUP WATCH-

A new B2B marketplace enters the startup scene in Egypt: Digital B2B platform connecting manufacturers and buyers TradeHub has launched operations, according to a company statement (pdf). The platform seeks to facilitate trade and promote exports by helping local manufacturers access international markets. TradeHub is currently only available to selected manufacturers. Others may join the waitlist by registering here.

How it works: The platform provides local manufacturers the ability to showcase their factories and products, giving them international visibility and helping them connect with traders. Buyers can either directly send requests for quotation (RFQs) to a specific seller or appeal to a bigger pool by launching a tender for a certain product, co-founder Ahmed Gaber (LinkedIn), the co-founder of courier startup Bosta, told Enterprise Logistics.

Big aspirations: TradeHub plans to connect 10k local manufacturers with traders by the end of 2024. The company is initially targeting buyers in the UK, with future plans to tap more European markets, Gaber said. It also plans to introduce payment processing and escrow services after 1Q 2024, Gaber said.

Funds incoming: The two founders started bootstrapping the company three months ago, Gaber told us. They are currently in talks with investors in the UK and Europe, angel investors in Saudi Arabia, and local venture capitals for a pre-seed funding round that they expect to close by the end of January.

DECARBONIZATION-

Agility, Al Futtaim and Asyad pledge to work towards net zero emissions: Kuwaiti logistics firm Agility, the UAE’s Majid Al Futtaim Holding and Oman’s Asyad were among 13 regional companies to ink the World Economic Forum’s joint communique, which pledges to drive change to achieve a net-zero future, according to a statement. The coalition of companies account for 7% of the region’s current emissions.

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