Cairo – Egypt-based Cartona, a business-to-business (B2B) platform, has secured $12 million in a series A funding round, according to a press release on Monday.
Silicon Badia led the fundraising transaction, along with SANAD Fund for MSME, Arab Bank Accelerator, Sunny Side Ventures, Global Ventures, as well as Kepple Ventures.
The platform will use the proceeds of the investment to scale its operation across Egypt, develop its technology and services, in addition to exploring new verticals beyond the fast-moving consumer goods (FMCG) products.
Cartona is an e-commerce platform in the traditional trade market including mom-and-pop stores, FMCG producers, wholesalers, and distributors.
The latest funding round came less than one year after Cartona raised $4.50 million in a pre-series A round, which was led by Global Ventures.