FreshSource, one of the MENA region’s first B2B agri-supply chain platforms, announced a seven-figure investment from 4DX Ventures and Wamda. The exact amount of the investment was not disclosed.
The Cairo-based, fresh food platform was founded back in 2019 by a sibling duo with the aim to leverage technology and data, that would transform the lives of producers, businesses, consumers and improve the planet. FreshSource changes the way fresh goods are sourced, moved and sold.
Farah and Omar Emara, the sibling founders of FreshSource have previous experiences in P&G and Goldman Sachs respectively. Their step-in in the fresh food sector was backed by the 30 years ‘ experience of the duo’s family company Emarco Group, one of the largest cold chain logistics in Egypt, that sources the produce from around the world and keep it safe in their facilities.
“We saw a substantial market opportunity and believed that with our Management, Finance and Tech background coupled with our family business know-how, we would build a high-growth and impactful business that will introduce new ways of sourcing in the country.”
~ Farah Emara, CEO and Co-Founder FreshSource
“We are proud to have the confidence of some of the strongest investors in the region who share our vision of leveraging data and technology to streamline the inefficient Agri supply chain. This new investment will allow us to continue to bring top talent on board and build the team we need to achieve our mission and accelerate our growth.”
~ Omar Emara, COO and Co-Founder FreshSource
FreshSource plans to channel the recent funds for geographical expansion within the Egyptian market, investing in their technology platform, growing the team in Egypt, while planning the future expansion in the region.
“Farah and Omar have shown excellent knowledge of the market and ability to execute so far, and we think that they have the potential to build a really important business in the coming years. Great pricing, reliability, and quality is essential for the agriculture/food industry, and Freshsource is helping to deliver a service quality well ahead of anything else in the market.”
~ Peter Orth, Co-Founder and Managing Partner | 4DX Ventures