Foras, a leading investment and innovation firm, has announced the acquisition of a 10% stake in the emerging startup Canater, which specializes in innovative supply chain and logistics solutions for manufacturers across the MENA region. The deal is valued at $1 million.
This move aligns with Foras’ strategy to support startups that are transforming traditional industries through technology and innovation, especially those leveraging Artificial Intelligence (AI).
Foras sees great potential in Canater’s mission to empower regional manufacturers to enter global markets, while overcoming legal and regulatory hurdles in each export destination.
Canater offers an integrated suite of services, including storage, logistics, financing, cross-border trade matching powered by AI, and a cutting-edge digital platform for real-time shipment tracking. This positions the company as a strategic partner for manufacturers, helping them both streamline exports and access new global opportunities.
In its initial phase, Canater is focusing on the Consumer Packaged Goods (CPG) sector—including food, beverages, cosmetics, personal care, and cleaning products. The company views the $11 trillion global CPG market as a substantial opportunity for regional players with currently limited global reach.
Mohamed Aboulnaga Nagaty, CEO of Foras, stated:
“We believe in Canater’s ability to bring transformative change to how regional manufacturers scale internationally. Our investment reflects confidence in the team’s vision and leadership.”
Khamis Soliman (Kash), founder of Canater, commented:
“This investment marks a major leap forward. With Foras’ support, we’ll accelerate growth and strengthen our tech capabilities to offer more innovative solutions. We aim to become the go-to partner for manufacturers expanding globally.”
Looking ahead, Canater aims to expand its services to more industries, further develop its platform, and strengthen collaboration with government and regulatory bodies to ease export procedures. The deal signals a new era of growth and innovation in the regional logistics tech ecosystem, with Canater at the center and Foras deepening its role as a strategic partner to high-potential startups.
