The Silicon Review ^Asia

The Series A round was led by Silicon Valley-based Graphene Ventures

The Riyadh-headquartered B2B startup Retailo has secured $36 million in its Series A round of funding, which was led by Silicon Valley-based Graphene Ventures with participation from 500 Global, Agility, Aujan, Tech Invest Com, and Mentor’s Fund.

The company has so far raised $45 million in total funding since its establishment and will use the fresh funding to expand into new geographies, verticals and products. “As global supply chains come under stress pushing up commodity prices and depressing GDP growth, the value of smart supply chains becomes even more important,” said Retailo’s CEO Talha Ansari. “The retail sector serves 700 million persons in MENAP, contributes almost 20% to the GDP, and employs tens of millions. By providing technology solutions to this underserved market, we are not only improving lives but also uplifting the economy of the entire MENAP region.”

Retailo was founded in 2020 by former Careem executives Talha Ansari, Wahaj Ahmed, and Mohammad Nowkhaiz. Retailo mobile platform helps small businesses find a catalog of over 5,000 SKUs which are delivered to their doorstep in less than 24 hours.