{"id":82450,"date":"2024-11-18T00:00:00","date_gmt":"2024-11-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-expansion\/"},"modified":"2024-11-18T00:00:00","modified_gmt":"2024-11-18T00:00:00","slug":"supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-expansion\/","title":{"rendered":"Supply chain tech startup Qara secures USD 2.6 mn in funding to drive expansion"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong> <strong>Egyptian supply chain tech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/qara.net\/\" style=\"\" rel=\"noopener\">Qara<\/a><\/strong><strong> successfully closed a USD 2.6 mn <\/strong><strong>funding round led by strategic investors<\/strong>, CEO and co-founder Hassan Abouzeed told EnterpriseAM. The funding will go towards the startup's expansion plans which include expanding its footprint in Saudi Arabia, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Already established in the Kingdom: <\/strong>Qara entered the Saudi market six months ago and has active clients there after it was one of 15 global companies selected for relocation incentives from the Saudi National Technology Development Program\u2019s (NTDP) Relocate Initiative, but \u201cwe can grow and totally disrupt the market in Saudi Arabia,\u201d Abouzeed added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qara has its eyes on the rest of the region and beyond once it makes its mark on the kingdom: <\/strong>\u201cThe obsession right now is success in KSA \u2014 hands down,\u201d but the priority after this is the UAE, the entire region, and then Europe and Africa, he said. The company\u2019s SaaS model makes the product scalable across different geographies without having to be there in person.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No slowing down: <\/strong>Qara plans to launch a new funding round in spring 2025 to further its product development and fuel international growth, Abouzeed said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Qara: <\/strong>The startup offers a platform enabling 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. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funds will help the startup further build its platform and expand into Saudi 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