Inside DASH Ventures' Bold Bet on Omniful.AI

In this inaugural Behind the Deal feature, we’re spotlighting the movers and shakers behind one of MENA’s most exciting supply chain management ventures: Omniful.AI.

Our guest, Aboudi Al-Qattan, is a principal at DASH Ventures, one of the oldest VC firms headquartered in MENA but with a global mandate. DASH is a sector-agnostic, seed-stage-focused VC firm that leverages an evergreen structure and a hands-on approach to support its portfolio companies. Aboudi pulls back the curtain on how a bold vision, relentless execution, and great timing position Omniful.AI up for a global takeover.

The Journey: Pitch, First Check, Follow-On

Omniful.AI’s journey with DASH began in July 2022, when co-founders Mostafa Abolnasr and Alankrit Nishad were introduced to the DASH team by a close and trusted ecosystem partner. By late August, DASH joined a $5.85M seed round alongside VentureSouq, Seedra Ventures, Bunat Ventures, Sanabil 500, and RZM Investments. The investment in Omniful marked DASH Ventures’ inaugural Saudi home-grown investment.

The pitch was straightforward: quick commerce had reshaped consumer expectations for rapid, efficient delivery. The founders saw an opportunity to build software that would help retailers, e-commerce platforms, and third-party logistics providers optimize operations in response to these demands. “Omniful strived to empower retailers to stay apace with developing consumer trends,” Aboudi says. “They wanted to build software that empowers operational excellence”.

For DASH, the decision to invest was rooted in a few key factors. First and foremost, it was the belief in the founders—Mostafa, with his deep understanding of product development, and Alankrit, whose experience building technology with multiple unicorns, gave DASH confidence in their ability to overcome the inevitable challenges of startup life. “We had a lot of conviction in the founders. They have incredible energy and experience, which is crucial for navigating tough times,” Aboudi explains. Additionally, DASH saw the pitch as timely and compelling: the focus on optimizing retailers’ operations, rather than serving the end user directly, set Omniful.AI apart from other startups. Furthermore, Omniful leverages an innovative usage-based pricing model, and the DASH team believes that this model is the natural evolution from typical subscription models; UBP serves both the service provider and the client in an efficient manner. Finally, the market size was too large to ignore: retailers globally spend $39b on ERP software, which is only a fraction of the market that Omniful targets.

After a successful 2024, DASH doubled down with a follow-on investment, equipping Omniful.AI with extra firepower ahead of their intended Series A. “Every once in a while, you come across wildly ambitious founders who possess grit, humility, and unrelenting drive. These guys were clear from day one—they’re not just building a regional company; they want to build a global superpower.”

In a short period, Omniful.AI demonstrated initial signs of product-market fit, scaling from $0-$1M+ in ARR in seven months, fueled by  customers switching from global incumbents like Oracle and SAP. This, according to Aboudi, signaled that Omniful.AI’s ambition was backed by solid proof of demand and product quality.

Omniful.AI’s Value Proposition

Omniful.AI’s core offering includes the flagship offering consisting of two products: the Order Management System (OMS) and Warehouse Management System (WMS). These tools help retailers, e-commerce, and logistics companies consolidate and streamline order processing and achieve operational excellence. Retailers often juggle multiple order sources—from their websites, platforms like Amazon, Noon, Shopify, and other channels—which can quickly become unmanageable. Omniful.AI consolidates these orders into one platform, allowing businesses to analyze and optimize everything from delivery routes to selecting the most efficient (and cost-effective) delivery service.

Beyond these go-to-market products, Omniful.AI offers a growing suite of products like Transportation Management (TMS), POS systems, Supply Chain Planning, and an AI Co-Pilot. These integrated solutions are designed to work seamlessly together. Currently, approximately 50 of Omniful.AI’s 60+ enterprise customers are using both OMS and WMS, highlighting the value of their integrated product suite – which has powered more than 1.26 million B2C & B2B e-commerce orders in 2024 worth more than $200 million of GMV.

“The goal is simple: to empower companies towards operational excellence,” Aboudi reiterates.

Overcoming Early Challenges and Scaling to Success

Omniful.AI’s journey wasn’t without its hurdles. Building a supply-chain company with global ambitions requires patience and resilience, not to mention the need to build a comprehensive, robust technology stack capable of processing enormous volumes. With that in mind, the founders made a conscious decision to remain in stealth mode for over one year to ensure that when Omniful launched to market, its bespoke technology stack was primed for success.

That patience paid off. When Omniful.AI emerged out of stealth in January 2024, the team was ready. In just seven months, they hit $1 million in annual recurring revenue (ARR), without any marketing spend and no sales team – just founder-led sales. While reaching this milestone is becoming more common, the speed at which Omniful.AI achieved it is noteworthy and aligns with some of the fastest-growing tech companies globally. Spending over 12 months in stealth mode to refine their technology stack gave Omniful.AI a defensible edge, allowing them to compete not only with regional players like OTO that provide parts of what Omniful offers, but also global incumbents and recognized brands like Oracle and SAP.

The next big test is scaling from $1 million to $10 million ARR—a crucial milestone in the MENA region. According to Aboudi, this will be the true measure of their resilience and scalability.

A Lesson in Patience and Conviction

Aboudi’s journey with Omniful.AI taught him valuable lessons as an investor. Initially, he was cautious about companies building multiple products under one suite, believing it complicated the competitive landscape and increased costs. He usually preferred focusing on a single use case before expanding. However, Omniful.AI’s founders, Mostafa and Alankrit, convinced him to think bigger. They were determined to build an integrated suite, believing that all products were synergetic.

Despite his reservations, Aboudi trusted their vision, and the data proved them right: customers who adopted OMS often also adopted WMS, boosting customer lifetime value. This experience reinforced the importance of having conviction in founders and being flexible in investment strategies. “Sometimes, the best thing you can do as an investor is step back and let the founders do their thing,” Aboudi shares.

What’s Next for Omniful.AI?

Omniful.AI isn’t just aiming to disrupt the region—they’re on a mission to go global. With a strong base in Saudi Arabia and customers across US, Europe and Africa, the company is ready to scale further. Their plan? Build a world-class team, continue innovating, and challenge the incumbents head-on.

“We’re not trying to just build a company for the region. We are trying to build something to disrupt the global industry, filling a huge and growing gap left by the legacy ERP being driven out of the market by their clunky systems, and single-point solutions having overlapping functionality and limited flexibility,” Aboudi says.

For DASH Ventures, the journey with Omniful.AI has only just begun. While there’s still much to be done, and patience will be key, they’re all in—betting on Omniful.AI to redefine how businesses manage their operations. The road ahead may be long, but the vision is clear.

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