Mahaseel Masr raises funding from EIIC
- Egypt-based agritech Mahaseel Masr, has raised funding from Emirates International Investment Company (EIIC).
- Founded in 2020 by Mohamed Abdel Rahman, the startup offers a B2B marketplace for fresh produce, connecting farmers and growers to global buyers.
- The fresh infusion of capital will be used to accelerate the deployment of its e-commerce platform, and enhance its product offering and supply chain operations.
Emirates International Investment Company (EIIC), the strategic investment arm of National Holding, has signed a partnership agreement with Mahaseel Masr, the first regional B2B fresh produce digital platform, to accelerate the deployment of Mahaseel Masr agri e-commerce platform.
The agreement will enable Mahaseel Masr to retain the necessary mid-term investment capacity to capitalise on its expertise and successful experience in Egypt to expand its leadership across the entire ecosystem governed by international standards, of farm profiling and coding, traceability, secure payments, logistical operations, and transparent communication between farmers and customers.
“We see a strong potential for a growing cross-border fresh produce trade, in line with the strategic objectives of the Egyptian government to multiply Egypt’s agriculture exports, while striving to minimise cost, maximise value and enhance quality. With an eye for global expansion, EIIC believes that Mahaseel’s e-commerce platform will remodel how the fresh produce trade industry operates with digital tools that cater to the pressing demands for stable and secure supply chains in light of the recent changing global scene dynamics,” said Joseph Iskander EIIC Head of Investments.
“Demand for first-rate fruits and vegetables at competitive prices is showing strong growth, driven by a global rapid population increase and raised digital awareness, in addition to a demanding need for global supply chain stability. With the support of EIIC, we will be able to achieve our mission to expand our geographic presence while crowning our portfolio with advanced technological and financial value added services. This strategic partnership will also realise our mission to simplify the lengthy supply chain and empower farmers’ inclusion into the digital transformation process that has revolutionised people’s day-to-day activities while ensuring fair trade for growers across the world,” said Mohamed Abdel Rahman, Mahaseel CEO.
Built on the foundation of connecting a wealth of farmers with their customers locally and internationally, Mahaseel Masr revolutionises the regional agriculture scene and provides means for fresh produce trade with a click of a button, allowing for shorter cost-effective supply chain.
Through its online platform, www.mahaseel.net, Mahaseel Masr efficiently connects farmers with local and global fresh produce buyers in contrast to traditional fruit and vegetable sourcing, which adds up to 15 per cent of Egypt’s GDP. The platform also leverages on geospatial farm profiling technology (GPS) that optimises traceability of farms registered on www.mahaseel.net.