Rabbit, an Egypt-based hyperlocal e-commerce company, announced its market entry to Saudi Arabia.
The company said it aims to achieve a target of delivering 20 million items in major Saudi cities by 2026.
The company, which has established its regional headquarters in Riyadh, said its operations are up and running through a network of ‘dark stores’ – fulfillment centers – across key neighborhoods in the city.
Ahmad Yousry, Co-Founder and CEO of Rabbit, said the company is delighted to bring its bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households.
“We’re building Rabbit Saudi, for Saudis, by Saudi hands,” he said.
Rabbit said it stocks up top household staples, and doubles down on local customer favourites.
“Typically, over 60 per cent of suppliers are local, and the company’s strategy will see KSA heroes empowered in the countrywide roll-out,” it said.
Rabbit said it is also delighted to have recently added blue-chip investors such as Lorax Capital Partners, Global Ventures, Raed Ventures and Beltone Venture Capital to their existing investors, namely Global Founders Capital, Goodwater Capital, Hub71, Simple Capital and Foundation Ventures.
The company said it has built a loyal customer base by combining AI-powered recommendations with the convenience of rapid delivery.
The company’s business model of delivering groceries, food, cosmetics, and more in just 20 minutes hinges on achieving high levels of operational efficiency – a key challenge in the e-grocery industry.
