E-grocery startup “Rabbit” has closed its pre-Seed funding round of $11 million from Global Founders Capital, Foundation Ventures, Raed Ventures, MSA Capital and Goodwater Capital.
More on Rabbit🧐 Rabbit buys these five categories of items (groceries, basic fashion items, cosmetics, toys & household items) from third-party suppliers, stores them in its warehouses, adds a markup & sells through its app with a flat delivery fee for customers.
In Egypt & Africa at large, Rabbit is one of the pioneers alongside Breadfast, the latter of which recently announced that it would begin to complete deliveries in less than 20 minutes.
Why is this important🤔 Rabbit currently serves 4 districts in Greater Cairo, Mohandessin, Zamalek, Maadi, & Nasr City, with plans to expand to several major cities in the next 12 months. Rabbit expects to receive hundreds of thousands of orders per month through its expansion.