Supply chain and e-commerce enablement startup Omniful is out of stealth mode following a $5.85 million seed funding led by VentureSouq.Â
This funding round saw participation from key investors such as 500 Global, DASH Ventures, Jahez Group, and others, pointing to the industry’s confidence in Omniful’s potential to reshape the retail sector in the UAE and Kingdom of Saudi Arabia (KSA).
Omniful’s core innovation lies in its sophisticated systems designed for ordering, warehouse management, and transport management. These systems empower merchants to leverage hyperlocal and omnichannel commerce effectively, allowing for efficient order management and real-time inventory control. Additionally, the technology extends its benefits to third-party logistics providers, streamlining their workflows for enhanced efficiency.
Mostafa Abolnasr, Omniful’s Co-founder and CEO, shared insights into the startup’s inception, citing the pain points experienced by merchants. These challenges include aligning various sales channels, managing inventory flows, ensuring stock accuracy, and optimizing picking and fulfillment times. Abolnasr, along with co-founder Alankrit Nishad, drew inspiration from market research indicating that existing legacy software failed to meet customer needs—being both hard to scale and expensive, with prolonged deployment times.
Omniful’s vision centers around the fundamental pillars of speed, accuracy, scale, and efficiency, as they strive to rebuild and enhance technologies essential for the future of supply chain, hyperlocal omni-channel retail, and e-commerce operations. The startup is committed to providing impactful solutions, particularly for small merchants, aligning with their mission to alleviate pain points in the industry.
The benefits of Omniful’s technology extend to both large enterprises and small merchants, offering capabilities to leverage different sales channels and significantly reduce workforce costs per store. Notably, the technology has demonstrated the potential to cut fulfillment time by up to 70%, positioning Omniful as a transformative force in the industry.
Omniful’s early clients include major retailers and third-party logistics providers in key markets such as KSA and the UAE. With a globalized product capable of handling a minimum of 3 million orders per day per client, Omniful has set its sights on expansion. Plans include reaching new customer bases in regions such as Africa and India, where the startup has already established a research and development center.
Tammer Qaddumi, General Partner at VentureSouq, described the company’s potential impact as a borderless solution with applications across diverse markets. He emphasized the role Omniful could play in enhancing retail franchises and unifying processes for cross-border operations, positioning the startup as a key player in the evolving dynamics of the Middle East and North Africa (MENA) region.
