Egypt-based supply chain tech startup Qara has successfully raised $2.6 million in funding, with the round led by undisclosed strategic investors. This investment aims to accelerate Qara’s expansion into the Kingdom of Saudi Arabia (KSA), a move supported by the National Technology Development Program’s (NTDP) Relocate Initiative. The initiative is a key driver in Saudi Arabia’s efforts to position itself as a regional tech hub, providing financial incentives, infrastructure support, and market access to incoming companies.
Qara’s integrated digital platform empowers manufacturers and product suppliers by enabling product authentication, traceability, and the use of AI for supply chain optimization. To date, Qara has authenticated over 28 million product units and connected more than 50,000 business users across its primary markets of Egypt, KSA, and Kenya. The company has also collaborated with 35 manufacturers, solidifying its position as a critical player in the Middle East and Africa (MEA) supply chain ecosystem.
CEO Hassan Abouzeed stated that the funding would drive Qara’s international ambitions, particularly in Saudi Arabia, aligning with the Saudi Vision 2030 initiative to leverage technology for economic transformation. The company plans to expand its innovative product portfolio, including its flagship app Asly, which allows users to verify product authenticity through QR codes, combating counterfeiting while enhancing customer trust and loyalty.
Why Investors Backed Qara
The $2.6 million funding defines Qara’s strategic alignment with regional priorities and its proven business model. Investors were drawn to several compelling factors.
In the first place, Qara’s technology directly supports Saudi Vision 2030’s goals of fostering innovation and driving economic diversification. The NTDP Relocate Initiative further validates the company’s role in shaping the region’s digital economy, offering a competitive advantage in the Saudi market.
Qara’s success in authenticating 28 million products and collaborating with prominent manufacturers highlights its operational credibility. These achievements demonstrate the platform’s scalability and effectiveness in addressing global supply chain challenges, such as counterfeiting and inefficiencies.
As the MEA region faces increasing pressure to secure supply chains and combat counterfeiting, Qara’s solutions address a growing need. Its ability to streamline operations and deliver real-time insights aligns with manufacturers’ and governments’ priorities.
Qara’s offerings, such as the Asly app, also showcase cutting-edge solutions that blend security, customer engagement, and supply chain visibility. By reducing redundancies and leveraging AI, Qara’s platform delivers measurable economic and social value, a key driver for investor confidence.
Founders Hassan Abouzeed and Khaled Hassan equally have demonstrated the strategic foresight and technological expertise to drive Qara’s growth. Their emphasis on scalability, data-driven decision-making, and market expansion resonates with investors seeking long-term value creation.
A Look at Qara
Founded in 2021 by Hassan Abouzeed (CEO) and Khaled Hassan (CTO), Qara is a supply chain technology startup headquartered in Egypt. The company operates across Egypt, Saudi Arabia, and Kenya, with plans to deepen its footprint in the MEA region.
Qara’s mission is to transform supply chains by providing an end-to-end digital ecosystem that enables manufacturers and suppliers to authenticate products, optimize operations, and connect seamlessly with stakeholders. Its innovative solutions leverage AI and blockchain technology to ensure transparency and traceability throughout the supply chain.
Qara’s portfolio includes partnerships with major clients such as Energya Industries, whose Vice President, Aly H. El Sewedy, emphasized the company’s role in reshaping the region’s supply chain landscape. Additionally, Ahmed Rabie, former CEO of Wadi Group, highlighted Qara’s contributions to food security and public utility.
The company’s flagship app, Asly, combats counterfeiting by allowing users to verify product authenticity through QR codes. This feature not only safeguards revenues but also enhances customer trust by delivering product information, updates, and warranty services directly through the app.
With its strong foundation and strategic backing, Qara is well-positioned to lead the digital transformation of supply chains across the MEA region and beyond.