Egyptian quick commerce (q-commerce) startup Rabbit has secured an undisclosed amount of funding from blue-chip investors and extended its services to the Saudi market by establishing a regional HQ in Riyadh.
Founded in 2021 by Ahmed Yousry, Walid Shabana, Ismail Hafezz, and Tarek El Geresy, Rabbit is a tech-driven hyperlocal e-commerce company that delivers groceries and more in as quick as 20 minutes through its network of dark stores.
The startup has secured an undisclosed amount of funding from regional investors including Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, along with the existing investors, namely Global Founders Capital, Goodwater Capital, Hub71, Simple Capital, and Foundation Ventures.
Rabbit has also announced its market entry into Saudi Arabia – and a target of delivering 20 million items in all Saudi major cities by 2026. The company has established its regional headquarters in Riyadh, and launched operations through a network of “dark stores”, or fulfilment centres, strategically located across key neighbourhoods in the city.
“We are delighted to announce Rabbit’s expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households and delivering the best products – especially local favourites – in just 20 minutes. We’re building Rabbit Saudi for Saudis by Saudi hands,” said Yousry.
