Egyptian startup, Drowzy receives six-figure investment from UAE angel investor

Egyptian furniture and home accessories startup, Drowzy has received a raised six-figure (USD) in an investment round from a UAE-based ‘strategic angel investor’.

The identity of the angel investor was not disclosed however, the investment would be more than $100k.

Chief Executive Officer (CEO) of Drowzy, Alaa Khalil said, “We’ve been studying the furniture scene for some time in Egypt, regionally & globally, and we believe that there is an obvious gap in fixed, fast & practical home products. We started in Egypt 3 years ago & now we believe that this partnership will add value & ease the way into different markets.”

Drowzy is an online store that offers a wide range of locally manufactured affordable, practical and durable furniture as well as home accessories pieces.

The startup works with different small and medium-sized furniture workshops and mini-factories to manufacture the furniture designed by Drowzy’s team and then sell it on its platform.

Chief Data Officer (CDO) of Drowzy, Mohamed Lotfy, said, “Drowzy helps designers all over the world, monetize their designs while helping the small/medium-sized workshops & mini-factories increase their revenues significantly & grow”.

Speaking on how the company will utilize the investment, Mohamed Lotfy revealed that a part of the funds will be used to grow further in Egypt and add more products to their catalog, hire more resources and launch a Do-It-Yourself line of products.

Currently, the startup sells almost 100 products and about 300 SKUs through its online platform across Egypt.

Drowzy delivers all its products across the entire country within six to ten days of receiving the order nevertheless the company aims to reduce the days to two to three days by the end of this year.

The startup was founded in 2017 by two architects named Alaa Khalil and Mohamed Lotfy.