Orisdi Signs Six-Figure Deal With Al Sharqiya TV
E-commerce platform, Orisdi, has signed a six-figure deal with Al Sharqiya TV Group, facilitated through the Iraqi Angel Investors Network including a matching grant from the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH via its project “ICT for Youth in Iraq”.
Sharqiya is one of the largest media groups in Iraq, having launched the country’s first fully independent, privately-owned satellite TV channel in 2004. As part of its investment, Al Sharqiya will promote Orisdi’s brand through regular TV spots across its social media pages, in addition to complimentary coverage of Orisdi and the e-commerce, technology, digital innovation and general business startup scene in Iraq on Al Sharqiya’s suite of reality TV shows, and news programming.
Al Sharqiya will be joining a solid list of backers behind Orisdi, such as Innovest Middle East VC and a group of angel investors.
Al Sharqiya’s partnership with Orisdi is a significant and strategic milestone for us. It will enhance our standing with both customers and investors and will open new doors in terms of exposure and awareness from millions of Al Sharqiya’s viewers across its TV and digital platforms that will generate new customer segments and scale our sales.Ahmed Al Kiremli, Co-Founder amd CEO of Orisdi
Orisdi was founded in February 2019 by Ahmed Al Kiremli and Hala Usama and launched in May 2019. It focuses on providing its customers with a wide range of products and a unique customer experience. The business was bootstrapped at the start, then received investment by a group of angel investors before receiving funding from institutional investors. The e-commerce startup has now reached an impressive seven figures in net sales, with over 37,000 product SKUs, making it the fastest-growing e-commerce store in Iraq. Orisdi also won the first place grant of the Spring 2021 Takween Accelerator.
The retail industry is evolving in Iraq and consumer behaviour has shifted from shopping in physical stores to purchasing online. A few years ago, Iraqi consumers started buying products online via social media platforms, which usually involved a lot of fraud and risk. Seeing a gap in the market for a trusted local e-commerce platform site, Orisdi provides Iraq’s consumers with a one-stop shop for competitively priced products. They offer a reliable delivery and returns policy, a trustworthy and user-friendly platform, and leading customer service.
We are delighted to partner with Orisdi as part of our growing interest in supporting the digital start-up sector in Iraq and the vital contributions private-sector companies can make towards solving day-to-day challenges for Iraqis. As one of Iraq’s leading and fastest growing e-commerce players, we believe that Orisdi provides a valuable service that more Iraqis can benefit from as awareness of its brand increases over timeMohsen Khairaldin, Managing Director for Investments at Al Sharqiya Group
As the e-commerce industry is still relatively new in Iraq, Orisdi is paving the way with its offerings, focusing on being a customer-centric company and extending its customer lifetime value. Orisdi was the first platform in the Iraqi market to focus on creating a great customer experience by offering a 48 hours return and exchange policy, and no shipping fees to gain the trust of sceptics when it comes to online shopping.
Ali Al Suhail, the Network Manager for the Iraqi Angel Investors Network commented: “As KAPITA, we are very happy to see leading Iraqi businesses investing in local startups, Iraq holds huge potential as a digital market but capital will be critical in unlocking this potential.”