Egyptian direct-to-consumer home and décor brand ariika has successfully raised an undisclosed amount in a Series A equity funding round led by Beltone Venture Capital. This investment has resulted in Beltone holding a 20% stake in ariika. The startup, founded in 2016, specializes in bean bags, pet beds, travel comfort, and pet seating, experiencing annual growth rates of over 85% and serving over 800,000 customers globally. With this funding, ariika aims to accelerate its growth and expand its presence across the MENA region, beginning with Saudi Arabia in the fourth quarter of this year. CEO and co-founder Khaled Attallah expressed the company's commitment to customer satisfaction, quality, and sustainable profitability, emphasizing their customer-centric approach. Ali Mokhtar, CEO of Beltone Venture Capital, praised ariika's strong operational performance and ambitious expansion plans, positioning it as a leading supplier of home and décor products in the MENA region.
Read more on Disrupt-Africa