Qara Secures $2.6 Million to Expand Supply Chain Tech Solutions to Saudi Arabia

Key Takeaways:

  • Funding Secured: Qara, a MEA-based supply chain tech startup, raises $2.6 million in funding to support its expansion into Saudi Arabia.
  • Saudi Arabia Expansion: Qara will leverage the NTDP’s Relocate Initiative to establish its presence in the Saudi Arabian market and contribute to the country’s Vision 2030 goals.
  • Innovative Solutions: Qara offers a digital ecosystem for product authentication, traceability, and data-driven decision-making in the supply chain.

Dubai, UAE – Qara, a leading supply chain technology startup, has secured $2.6 million in funding to fuel its expansion into Saudi Arabia. The company’s innovative solutions aim to revolutionize supply chain management in the Middle East and Africa (MEA) region.

Qara provides a comprehensive digital platform that enables producers to authenticate and trace their products, connect with stakeholders across the supply chain, and leverage AI for data-driven decision-making. The company has already achieved significant success, collaborating with over 35 manufacturers and authenticating over 28 million product units.

“I believe the challenges we’re addressing meet a significant global demand,” said Hassan Abouzeed, Co-Founder and CEO of Qara. “After three years of a successful product-market fit in Egypt, Qara is now ready for international expansion.”

Qara’s expansion into Saudi Arabia aligns with the Kingdom’s Vision 2030 objectives, which emphasize innovation and technology as key drivers of economic growth. The company will benefit from the National Technology Development Program’s (NTDP) Relocate Initiative, which provides incentives and support for tech companies establishing a presence in Saudi Arabia.

“We are excited that our first step is into the Kingdom of Saudi Arabia, where what we do aligns perfectly with the Saudi Vision 2030 objectives to foster value creation through innovation and technology,” added Abouzeed.

Qara’s offerings include innovative solutions like the “Asly” app, which allows users to verify product authenticity by scanning unique QR codes. This helps combat counterfeiting, protect brand revenue, and build customer trust.

“Our aim is to revolutionize manufacturers’ B2B2C marketing and distribution capabilities through innovative digital solutions,” stated Abouzeed, highlighting the company’s focus on enhancing supply chain efficiency and transparency.

The company’s technology also provides businesses with real-time insights and data-driven decision-making capabilities, further enhancing supply chain efficiency and transparency.

“At Qara, our focus is on developing solutions that are scalable, secure, and adaptable to the changing demands of the global supply chains,” said Khaled Hassan, CTO and Co-Founder of Qara.

Qara has already established successful partnerships with major clients in the region, demonstrating the value and impact of its solutions. This latest funding round will enable the company to further expand its reach and contribute to the digital transformation of supply chains across the MEA region.

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