UAE-based kaykroo has announced the launch of its Saudi operations with plans to open 15 cloud kitchens in the kingdom in 18 months.
The company, currently in Series A funding rounds, has 19 kitchens in five emirates of the UAE, and will launch its 20th cloud kitchen in Riyadh, as part of plans to accelerate growth across the GCC.
The company is aiming to deliver more than one million meals and create 500 jobs in the kingdom in 18 months.
Co-founder Fawaz Al Otaibi has been appointed CEO of the company’s Saudi operation, which will now include a full team.
Jihad El-Eit, founder and CEO of kaykroo, said: “We’ve spent the last year and a half growing kaykroo’s operations in the UAE, which now cover five different emirates.
“The next step in our evolution was always going to be Saudi Arabia, with the food delivery sector witnessing a monthly average demand of $266.6 million in the first quarter of 2021.
“In particular, cloud kitchen platforms have shown significant growth potential in the kingdom, with a market value of $215 million in 2020 that is projected to reach $515 million by 2029.”
Al Otaibi said kaykroo in Saudi would offer the same brands as those available in the UAE but ‘with a Saudi twist’.
Kaykroo handles brands such as Man’oushe Street, Fern El Balad, El Bakery, The Good Bowl, Hummus Brothers, Wrapped, Pick ‘n Pair, Lahmajun, Susuru and The Vegan Table.
According to the company, a new brand specific to the kingdom is currently under development and it will be launched by the end of the year.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
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© ZAWYA 2021