- Egyptian startup Mtor raised $2.8 million in pre-seed funding to develop its online auto parts marketplace and procurement platform for mechanics.
- Mtor aims to streamline Egypt’s $5 billion but inefficient automotive aftermarket supply chain by connecting mechanics directly with suppliers.
- Proprietary technology matches spare parts to vehicle models and provides real-time pricing/availability to help mechanics source parts faster.
Mtor, an Egyptian automotive tech startup, has raised $2.8 million in a pre-seed funding round to expand the online marketplace that makes it easier for mechanics to procure spare parts.
Founded in 2022, Mtor aims to eliminate major inefficiencies in Egypt’s $5 billion automotive aftermarket by connecting mechanics directly with a broad range of spare part suppliers. This unified digital platform provides mechanics access to quality components at competitive prices with quick delivery times.
“Buying spare parts today as a mechanic can be extremely tedious and time-consuming. We built Mtor to completely change this reality,” said CEO Mohamed Maged.
Through its mobile app and website, Mtor gives mechanics searchable access to over 70,000 products from leading regional and global suppliers. Integrated proprietary technology matches parts to vehicle models to ensure accuracy and fitment. Real-time pricing and availability data also enable mechanics to make procurement decisions faster.
The fresh funding from investors like Algebra Ventures and Dutch Founders Fund will support expanding Mtor’s product suite and supplier network. The end goal is cultivating an exceptional, fully digitized automotive aftermarket supply chain – from overseas parts manufacturers down to local mechanics across Egypt.
As Karim Hussein, Managing Partner at Algebra Ventures, highlighted, “Mtor eliminates the hours wasted daily by mechanics trying to source spare parts, with game-changing technology tailored for this market.”
The platform has already delivered over 70,000 orders as it taps into the vast potential of Egypt’s fragmented $5 billion aftermarket. Mtor does this by catering parts procurement and data insights to the needs of over 35,000 workshops while making life easier for the country’s 8 million registered vehicle owners.
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Last Updated on December 5, 2023 by Safiya K
