BulkWhiz raises multi-million Series A
BulkWhiz raises multi-million Series A
Source: MENAbytes
Dubai-based e-commerce grocery platform BulkWhiz has closed its Series A, the startup announced today in a statement to MENAbytes. BulkWhiz did not disclose the exact size of investment but has confirmed to MENAbytes that it is a multi-million (USD) round.
The round was led by Dubai-based BECO Capital (who have just closed their second fund with $100 million) and joined by China’s MSA Capital (who’ve been very active in the region lately), 500 Startups (500 Flacons), and Kuwait-based Faith Capital.
Founded in late 2016 (launched in 2017) by Amira Rashad who previously worked for Facebook and Yahoo (from their offices in Dubai) and Yusuf Saber who was the data science lead at Careem, BulkWhiz enables consumers and small businesses to buy groceries and household products in bulk through its mobile app or web-based platform.
The prices on the platform drop as the users increase quantity of a product in their cart. BulkWhiz has built its own proprietary artificial intelligence (AI) technology to make it easier for users to buy groceries online by learning from consumer behavior and personalising experience to their needs. Its app comes with a buy again page to help users go through a list of items they’ve purchased in previous orders and add them to cart in a few taps.
Amira Rashad, the co-founder and CEO of BulkWhiz, in an interview last year had said that AI is the ideal solution to everyone’s grocery shopping problem, “By factoring in everything from shopping behaviours to weather patterns, BulkWhiz’s proprietary, home-grown, AI technology helps shoppers optimise household consumption and save money, time and effort. BulkWhiz helps you simplify grocery shopping by creating a one time, personalised shopping list of the grocery items you buy constantly. It gives you a simple and user-friendly interface to manage your household buying needs with clever features like the ability to snooze or modify orders with one click. The list is powered by technology to help you never run out of key essentials like toilet paper or diapers.”
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