Orisdi, Iraq's Top Fragrance E-Commerce Platform, Secures Six-Figure Funding Boost
Summary
Orisdi, Iraqs top fragrance e-commerce platform and vertically integrated market leader, has successfully closed a six-figure bridge funding round. Concluding in April 2024, this funding aims to bolster Orisdis corporate development initiatives and highlight the potential of Iraqs e-commerce sector.The investment round garnered support from both new and existing investors who believe in Orisdis strategic vision and operational efficiency. Notable investors include Al Sharqiya TV Group, Iraq Venture Partners (IVP), Amar Shubar, Nour Sabri, Mazin Yaseen, Mohammed Faraj, Rayya Al Zubaydi, Naveed Pasha, and Ahmed Al Kiremli, along with other key business figures. With this new investment, we expect to achieve the highest revenue level in 2024 since our founding. We are very close to the breakeven point and anticipate becoming profitable in 2024, making Orisdi the first major e-commerce store in Iraq to achieve profitability, said Ahmed Al Kiremli, Co-Founder and CEO of Orisdi.Orisdis business strategy focuses on enhancing customer experience, expanding successful product categories, and developing an efficient economic model to mitigate high investment costs amid Iraqs capital constraints.