“We have double what we raised now in equity. That capital will be used to grow its market share in Egypt by deepening its operations in FMCG and HORECA (hotel, restaurant and cafe/catering), a vertical it launched over a year ago. In addition, Cartona may be looking to expand into other regional markets, including Saudi Arabia, and to explore other product lines within Egypt, the chief executive added."

https://techcrunch.com/2024/07/30/egypts-cartona-raises-8-1m-even-as-investors-pull-back-from-b2b-e-commerce-in-africa/?stream=top