PHOTO
Dubai-based Grubtech, a software as a service (SaaS) platform for cloud kitchens and delivery-centric restaurants, has secured $3.4 million pre–Series A funding.
This follows the $2 million it raised in seed funding last year.
Investors included large regional family offices, a U.S.-based venture capital firm as well as reputable angel investors, the company said in a statement Tuesday.
Grubtech will use the funds for product development and capitalize on increased demand from MENA, Europe and the Americas, it said.
Within the fragmented rest-tech landscape, Grubtech helps integrate with third parties like food aggregators, logistics providers, points-of-sale solutions and ERPs. Its product streamlines operations with the ultimate goal of maximizing kitchen utilization, reducing the order to doorbell journey whilst reducing costs.
"Grubtech has built a pioneering tech stack which is trailblazing advancements in the growing online food delivery and cloud kitchen space. We are incredibly excited about Grubtech's growth potential globally," said a syndicate of private investors in the MENA region, led by Ghassan Oueida and Gry Loseth.
According to CEO Mohamed Al Fayed, "We are still in the early stages of the digitization of the F&B sector, akin to e-commerce 10 years ago. The operations of high volume, multi-brand and omnichannel sales are complex, and so grubtech has been built with a deep focus on our customers' pain points today, and anticipated issues and opportunities of the future."
(Writing by Brinda Darasha; editing by Daniel Luiz)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021
