Iraqi startup Orisdi raises $220K

Baghdad (IraqiNews.com) – Orisdi, an e-commerce platform, received $220K in a bridge round of funding. Al Sharqiya TV Group and 3B Starlight Investment joined angel investors in the round, which was closed in January.

Orisdi is a vertically integrated online retailer in Iraq that aims to upend the country’s retail industry by providing customers with a comfortable shopping experience for a variety of goods.

“We have been focused on improving efficiency and increasing margins, and our efforts have paid off,” said Ahmed Al Kiremli, the Founder & CEO of Orisdi. “We are now averaging 28-31% margins and are well positioned for growth in a market with strong growth potential for e-commerce.”

Orisdi concentrates on a variety of product categories, including electronics, stationery, appliances, and cosmetics.

“We continue to focus on the customer experience and our winning categories as a vertically integrated E-commerce store. In addition, we are launching our new division of cross-border commerce soon,” said Al Kiremli.