Egyptian Startup Cartona Raises USD 8.1 M Series A Extension Round

Egyptian B2B e-commerce platform Cartona has raised USD 8.1 M in a Series A extension (USD 5.6 M equity and USD 2.5 M debt) from new and existing investors. This brings Cartona’s total Series A to USD 20.1 M. Egyptian VC firm Algebra Ventures led the round, while Silicon Badia, lead investor from the first Series A tranche, and SANAD Fund for MSME also participated. Camel Ventures and GlobalCorp, on the other hand, provided the debt component. 

Cartona is a B2B e-commerce marketplace focusing on solving the supply-chain and operational challenges for the fast-moving consumer goods industry (FMCG) by digitizing the traditional, predominantly offline, trade market. The Company offers an asset-light marketplace that enables grocery retailers to order their store needs digitally from a curated network of sellers.