Riyadh – Sharikat Mubasher: Egypt-based startup Qara, specializing in supply chain technology, has successfully raised $2.6 million in a funding round, led by strategic investors.

The fresh capital is intended to enable the company to expand into Saudi Arabia, the UAE, and the broader region. Additionally, Qara plans to launch a new funding round in spring 2025 to support its growth ambitions, according to a recent press release.

Qara previously developed a platform that empowers manufacturers to verify product authenticity and optimize supply chain operations. Its flagship app, Asly, allows users to scan QR codes to confirm product authenticity and combat counterfeiting.

The company managed to document over 28 million products across Egypt, Saudi Arabia, and Kenya, connecting manufacturers with more than 50,000 business users.

As part of its growth strategy, Qara aims to enhance its platform's scalability for entry into new markets. After expanding in the Kingdom, the company plans to target the UAE, the wider region, Europe, and Africa, supported by its next funding round in 2025.