News

Procural Has Secured $1.2 Million In Seed Investment

The Bahrain-based startup is set to scale and expand the reach of its innovative platform.

Published

2 years ago

March 2, 2023

procural has secured $1.2 million in seed investment

Procural is an AI-driven procurement service that matches B2B vendors and buyers using advanced algorithms and data. The platform offers a cloud-based infrastructure, customizable workflows, automated purchase orders, and real-time budget tracking.

Now, the Bahrain-based startup has secured a seed investment of 1.2 million USD from Flagship Holding and BenchMatrix in a bid to accelerate product development and boost market growth.

“We found a gap in the market and have developed a secure, scalable solution that can be accessed from anywhere. By streamlining the purchasing process, businesses can save time and money while ensuring compliance with their procurement policies. This investment is a validation of our platform’s credibility and potential, and we’re excited to work with Flagship Holding and BenchMatrix to take Procural to the next level,” says Uzair Usman, the chief executive and co-founder of Procural.

Also Read: Areeba To Bring Biometric Payment Authentication To MENA

With an extensive suite of data-driven analytical features, Procural helps businesses to manage procurement, track spending, and identify opportunities for cost savings and improvements in process efficiency. The platform helps to digitize the entire procurement process flow, from request to fulfilment, increasing their clients’ sourcing outreach.

With the new funding, Procural will expand its team, improve the platform’s feature set, and accelerate growth, helping the company to become the go-to procurement solution for businesses looking to streamline their workflows.

News

Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia

The e-commerce startup is aiming to tap into the Kingdom’s underdeveloped e-grocery sector with a tech-first, locally rooted strategy.

Published

3 days ago

April 7, 2025

Nour Nasir

Rabbit

Rabbit, an Egyptian-born hyperlocal e-commerce startup, is expanding into the Saudi Arabian market, setting its sights on delivering 20 million items across major cities by 2026.

The company, founded in 2021, is already operational in the Kingdom, with its regional headquarters now open in Riyadh and an established network of strategically located fulfillment centers — commonly known as “dark stores” — across the capital.

The timing is strategic: Saudi Arabia’s online grocery transactions currently sit at 1.3%, notably behind the UAE (5.3%) and the United States (4.8%). With the Kingdom’s food and grocery market estimated at $60 billion, even a modest increase in online adoption could create a multi-billion-dollar opportunity.

Rabbit also sees a clear alignment between its business goals and Saudi Arabia’s Vision 2030, which aims to boost retail sector innovation, support small and medium-sized enterprises, attract foreign investment, and develop a robust digital economy.

The company’s e-commerce model is based on speed and efficiency. Delivery of anything from groceries and snacks to cosmetics and household staples is promised in 20 minutes or less, facilitated by a tightly optimized logistics system — a crucial component in a sector where profit margins and delivery expectations are razor-thin.

Despite the challenges, Rabbit has already found its stride in Egypt. In just over three years, the app has been used by 1.4 million customers to deliver more than 40 million items. Revenue has surged, growing more than eightfold in the past two years alone.

Also Read: Top E-Commerce Websites In The Middle East In 2025

CEO and Co-Founder Ahmad Yousry commented: “We are delighted to announce Rabbit’s expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households, and delivering the best products – especially local favorites, in just 20 minutes”.

The company’s growth strategy avoids the pitfalls of over-reliance on aggressive discounting. Instead, Rabbit leans on operational efficiency, customer retention, and smart scaling. The approach is paying off, having already attracted major investment from the likes of Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, alongside earlier investors such as Global Founders Capital, Goodwater Capital, and Hub71.