Rabbit, a 20-minute convenience delivery startup in Egypt, comes out of stealth with $11M pre-seed.
The rapid on-demand grocery and convenience delivery craze that has taken over Europe and the U.S. this past year is gradually making its way into Africa and the Middle East.
Today, the spotlight is on RabbitMart, or Rabbit for short, a startup coming out of stealth with $11 million in pre-seed funding. Rabbit is the latest of a long list of startups investors are willing to pump money into globally to deliver groceries and other items from neighbourhood fulfilment centres to people’s homes in 20 minutes or less.
In Egypt and Africa at large, Rabbit is one of the pioneers alongside Breadfast, which recently announced that it would begin to complete deliveries in less than 20 minutes.
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| Rabit Founders |
“You make an order, but you’re not quite sure if it’s gonna come or it’s going to be out of stock,” he said. “You’re not quite sure if it’s going to be delivered 100% or it’s going to be delivered on time or delayed. You’re not quite sure what you are going to get.”
It was the case with Yousry and his co-founders; they studied use cases where people bought stuff from e-commerce platforms but would wait days to get it and settled on basic fashion items, cosmetics, toys and household items.
“Whatever the consumer wants under 20 minutes, we’re going to let the market dictate what we sell. We’re not limiting ourselves as a grocery player,” he said, differentiating the company from other grocery delivery platforms such as GoodsMart and Appetito in Egypt.
