Dec 9, 2023

The new funding will allow Mtor to further develop its product suite and technology infrastructure. Shares Cairo-based online car parts marketplace Mtor has raised a USD 2.8 million pre-seed round led by Algebra Ventures to further digitize Egypt's auto parts industry. Founded in 2022, Mtor aims to streamline the fragmented automotive spare parts supply chain in Egypt through an online marketplace that connects car workshops with suppliers. "It can be a car owner’s nightmare to get their car serviced. Mtor was founded to fundamentally transform this reality and make the process easier and more efficient," Mohamed Maged, CEO and co-founder of Mtor, tells StartupScene. "We aim to become the most trusted partner for our mechanics by empowering them to better cater to the car owner’s needs in terms of quality parts and fast service." Mtor offers local car workshops access to a wide range of automotive spare parts that can be procured on-demand through its proprietary platform and app. By partnering with major importers, Mtor also aims to facilitate distribution and provide suppliers with demand insights to optimize stocking. The startup boasts partnerships with over 2,500 workshops in Greater Cairo since launching early this year. Mtor has already fulfilled more than 70,000 orders, pointing to strong early traction. The new funding will allow Mtor to further develop its product suite and technology infrastructure. This includes digitizing workshop operations and streamlining the spare parts supply chain through predictive analytics and demand forecasting tools. "We are building the tech infrastructure where global suppliers and importers, as well as local mechanics, can speak the same language," Maged tells StartupScene. "optimising the supply chain through a controlled, tech-enabled marketplace where pricing, availability, and fitment data are reliably one-click away from workshops." With Egypt's large automotive aftermarket estimated at over USD 5 billion annually, Mtor is well-positioned to capture opportunities through its digitization efforts. The startup aims to expand its platform regionally as it works toward establishing an efficient and transparent supply chain ecosystem. Sign up for the daily Startup Digest. 0