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Tuesday, 19 February 2019

Algebra on board to make further investments in GoodsMart

INVESTMENT WATCH- Household shopping service GoodsMart has secured additional funding from Algebra Ventures: Our friends at Algebra Ventures have made an additional commitment to MENA unattended delivery pioneer GoodsMart, according to a press release (pdf). The news comes as GoodsMart prepares to raise a series ‘B’ funding round. Algebra previously invested USD 750k during the company’s series A round in April 2017. GoodsMart is a shopping app that allows customers to order unattended grocery deliveries; the company has grown its business three-fold in the past six months and is seeking capital to grow its business, upgrade warehouse facilities and bolster its operational capabilities, it said.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

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