Kuwait’s logistics tech firm Raha concluded its pre-Series A funding round that was led by Soor Capital and eWTP Arabia Capital, which is backed by the Saudi Public Investment Fund (PIF).
With this latest investment, Raha secured a total of $14 million in fundraising, according to a press release.
The startup raised $6.70 million in an initial funding round led by Riyadh-based Aujan Enterprises and Kuwait’s Nox Management, and London-headquartered Cedar Mundi Ventures.
Raha used its recent funding to widen its regional presence and enlarge its business, particularly in Saudi Arabia and the UAE.
Founded in 2022, Raha launched its first successful project in the Kuwaiti market through ShopRaha, a fully automated e-grocery platform that was the region’s first pure-play service.
Saleh Al Tunaib, Co-Founder and CEO of Raha, commented: “Raha was envisioned as a company that uses technology and robotics to disrupt traditional models and redefine e-commerce.”
“We have integrated advanced technology with our logistics expertise to elevate the e-commerce experience, from first to last mile,” Al Tunaib noted.
Mohammed Razzouqi, Partner at Soor Capital, said: “With Raha’s tangible success and a new round of investment, they will be well positioned to play a larger role in shaping the region’s automation and robotics industries as both a consultant and service provider.”
Jerry Li, the Founder and Managing Partner of eWTP Arabia Capital, elaborated: “In communicating with Chinese companies, we learned about the obstacles that China's robotics and automation solutions face in the process of global expansion.”
“Raha's solution can perfectly help them make a soft landing. Based on the management’s rich local experience, we are very optimistic that more Chinese companies will contribute to the development of the MENA through solution partners like Raha in the future,” Li added.
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