UAE start-up GrubTech raises $13mln in new funding round

FoodTech platform looks to expand to new markets

  
Image used for illustrative purpose. Seed funding or seed stage funding is a very early investment which aims at helping a business grow and generating its own capital. Also referred to as seed money or seed capital, investors often get equity stake in exchange for the capital invested.

Image used for illustrative purpose. Seed funding or seed stage funding is a very early investment which aims at helping a business grow and generating its own capital. Also referred to as seed money or seed capital, investors often get equity stake in exchange for the capital invested.

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UAE-based start-up GrubTech announced on Tuesday that it has raised $13 million in a new funding round that will help the company expand into other markets and develop innovative solutions. 

The Series A funding was led by Addition and participated by other investors including BY Ventures and Hambro Perks Oryx Fund, the food technology company said in a statement. 

“The company plans to use the funds to continue developing innovative solutions and further extend its reach into new markets,” the statement said. 

The company was founded in 2019 by Mohamed Al Fayed, Omar Rifai and Mohamed Hamedi to offer a plug and play, all-in-one operating system for restaurants and cloud kitchens. Its software powers various key functions, including back-of-house and in-kitchen operations, enabling food and beverage businesses to operate more efficiently. 

GrubTech has been deployed across 15 countries in the Middle East, Africa, Asia and Europe, and has recently celebrated a milestone of processing two million orders. 

(Writing by Cleofe Maceda; editing by Mily Chakrabarty) 

Cleofe.maceda@lseg.com 

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