Riyadh - Sharikat Mubasher: Omniful, the supply chain and e-commerce startup, secured $5.85 million in a seed round led by VentureSouq with participation from several investors, a recent statement announced.

500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, RZM Investments, and several family offices including Al Rasheed, Siraj Holding, Al Bawardi, Al Nafea participated in the round.

Omniful built systems for ordering, warehouse management, and transport management, enabling merchants to tap hyperlocal and omnichannel commerce and manage their orders efficiently. In addition, it equips third-party logistics providers (3PLs) to manage their workflows efficiently

Mostafa Abolnasr, Co-founder and CEO of Omniful, stated that the company’s growth plans include expanding its customer base in other parts of the world, including Africa and India, where it has a research and development center.

For his part, Tammer Qaddumi, General Partner at VentureSouq, commented: “We see Omniful as having uniquely far-reaching applications, giving it lots of space to run. Here in MENA, the concept of trading is embedded in our history.”

“This region has an established tradition of great retail franchises, which Omniful can help to enhance, making them more competitive in an increasingly dynamic environment,” Qaddumi concluded.

Omniful is a fast-growing B2B SaaS startup that provides best-in-class and robust cloud-based solutions for supply chain execution and warehouse management. It specializes in e-commerce and omnichannel retail technology solutions with a focus on real-time inventory visibility and performance analytics.