Cairo-based Odiggo raises $180,000 in seed funding
Source: MenaBytes
Odiggo, a Cairo-based ecommerce marketplace for auto spare parts has raised $180,000 as seed funding at the valuation of $1.25 million from Saeed Al Jaberi, a Saudi angel investor, the startup told MENAbytes today.
Founded in 2017 by Ahmed Omar, Wissam Saleh, and Khalid Omar, Odiggo sells auto spare parts all over Egypt (and beyond) through its bi-lingual website and mobile apps. The startup in a statement to MENAbytes said that it wants to make buying car parts and services as simple as buying a t-shirt online, “With a few clicks we can help people find their car parts and get them delivered to their service centers or their homes.”
Launched in Jan 2018, Odiggo, to date, has processed over 14,000 transactions and tickets, with their sales crossing $170,000 (EGP 3 million) in these fifteen months, the startup told MENAbytes. Odiggo claims to have the largest catalog of auto spare parts in the region with over 290,000 products in their database. The startup makes money by charging 7 to 22 percent commission on every order made through their website or mobile app.
Ahmed Omar, the co-founder and CEO of Odiggo, speaking to MENAbytes, said that they are expanding their platform to Sudi in July.
“We’ll be using the investment to launch in Saudi Arabia as the traffic from there has the best conversion rate on our platform. We’ll also be using it to expand our team, grow our technical infrastructure to make it more scalable and reliable for the users, and for customer acquisition and marketing,” said Ahmed.
“We might seem like a normal car parts online store. But we have combined the car technologies embedded systems with our platform and then linked the car parts with the service agencies around every area,” he added.
Oddigo in its statement to MENAbytes also said that they’re exclusive online sales partner of Valeo, a French global automotive supplier. Valeo has over 30,000 of their products listed on Oddigo that are being shipped directly from their warehouse in Turkey to anywhere in the world, for the orders placed through Oddigo’s website and mobile apps.
