Algebra Ventures leads seed investment round in interior design tech platform Efreshli with participation from Dar Ventures (Dar’s VC arm) and 500 Global
Why we’re excited about Efreshli:
- Exceptional team: The co-founders, Heba Elgabaly and Dina Elhaddad, bring a unique blend of experience and expertise. Heba has a proven track record in the furniture industry, having played a pivotal role in building Eklego into a leading furniture house. Dina, a seasoned technologist, spent years at Google in the Bay Area, where she significantly contributed to innovative products like Google Assistant and Google Shopping. Both are Harvard MBA graduates, and their complimentary skills position Efreshli for remarkable growth.
- Disruption potential: The furniture market is ripe for innovation. Efreshli offers a curated selection of local furniture design, streamlining the purhcasing process for both buisnesses and consumers. In an industry riddled with attempts to create basic e-commerce experiences, Efreshli adopts a designer-first approach, enhancinf the entire consumer journey. With Egypt as the largest furniture exporter in the resion, the company stands to benefit from favorable trends like near-shoring and a robut labor market.
Full press release below:
Efreshli, a pioneering force in the interior design industry in Egypt founded by Heba Elgabaly, announces the joining of former Silicon Valley Google product lead Dina Elhaddad as co-founder. Additionally, Efreshli has completed its seed funding round, led by Algebra Ventures, with participation from 500 Startups, Dar Ventures, and angel investors. This new capital, combined with Dina’s extensive expertise in product development and technology, will be crucial in enhancing Efreshli’s offerings and expanding its product line.
Marking a significant milestone in Efreshli’s journey, Heba Elgabaly is now joined by Dina Elhaddad, who steps in as co-founder and Chief Product Officer (CPO) to propel Efreshli’s product and technology forward. Dina Elhaddad brings 15 years of invaluable experience in consumer technology, having spent the last eight years at Google in the Bay Area, where she played a key role in developing industry-leading products like Google Assistant and Google Shopping. Both Heba and Dina are Harvard MBA graduates, and their complementary skill sets are well-positioned to elevate Efreshli to new heights.
Before founding Efreshli, Heba spent 9 years as a partner at Eklego where she worked alongside the company’s co-founders to build a leading homegrown design and furniture brand. Efreshli was built on a mission to make interior design accessible to everyone. By uniquely blending interior design with technology, Efreshli has revolutionized the industry and established a robust brand presence, successfully serving thousands of customers and ensuring that elevated design is attainable regardless of style or budget. The platform showcases and sells thousands of products from over 150 of Egypt’s top brands, creating a seamless home shopping experience for its customers.
In recent years, the company has developed a strong network of ecosystem players within the design and home space, facilitating interaction among stakeholders to drive innovation in architecture as a whole. With a team of 60 professionals, Efreshli combines expertise in interior design, technology, marketing, and operations, ensuring a unique and exceptional service for its customers.
Heba Elgabaly, co-founder and CEO of Efreshli said: “I’m excited about this significant milestone for Efreshli. With new funding and with Dina El Haddad joining as Co-Founder and CPO, we can accelerate our tech-driven growth and take Efreshli to new heights, bringing us closer to our mission of making interior design accessible for everyone.”
Dina Elhaddad, co-founder and CPO of Efreshli said: “I’m thrilled to be part of Efreshli’s journey to revolutionize the home furnishing experience, not just in Egypt, but across the region. Efreshli’s future is more than just furniture; it’s about building an entire ecosystem. With innovations like Efreshli Pro, we’re connecting the dots for everyone, from customers to designers, and making the process seamless.”
Laila Hassan, General Partner at Algebra Ventures said: “Efreshli curates the best of local furniture design and makes it seamless for businesses and consumers to purchase beautiful, high-quality pieces online. In an industry riddled with attempts to build simple Web 1.0 e-commerce experiences that just don’t work for furniture, Efreshli brings a refreshing designer-first approach to the entire customer journey. Furniture is an important national industry. Egypt is the region’s largest exporter of furniture and has always benefitted from secular trends like near-shoring and an attractive labor market.
Efreshli is well positioned to leverage the best of Egyptian design to serve customers across MENA. We believe there’s a lot to disrupt in this space and are thrilled to be partnering with Heba and Dina. Heba brings years of domain expertise to the table, having helped build Eklego, a leading furniture house, into the powerhouse that it is today. Dina is a technologist through and through, having spent many years in leadership roles at Google in the US before returning to Egypt,” added Hassan.
Faysal Shair, co-founder and Director of Dar Ventures said: “We are thrilled to join Efreshli on this exciting journey. We believe that the Egyptian market, along with the broader MENA region, needs funding and innovation within the AEC industry. Having witnessed Heba’s remarkable ability to build and disrupt the space, we are confident that with Dina’s technological expertise now on board, Efreshli is set to elevate its products and services to new heights, enabling them to compete effectively on a regional scale.”
