The Cloud Soars with $12M Series B Funding
February 21, 2024, 10:14 am
Location: United Arab Emirates, Abu Dhabi Emirate, Al Zahiyah
Employees: 51-200
Founded date: 2018
Total raised: $22M
The Cloud, a UAE-based food tech startup, recently secured $12M in Series B funding, bringing their total funding to $30M. This round saw new investor MENA Moonshots joining in to support the company's growth and expansion plans.
Georges Karam, the Founder & Chairman of The Cloud, expressed excitement about the funding and the recent acquisition of KBOX, a UK-based food tech startup. This move solidifies The Cloud's position as disruptors in the global food tech sector, with a focus on increasing market share and expanding into new territories.
The company's strategy includes accelerating growth, enhancing operational capabilities, and further developing their proprietary technology platform. With a presence in 7 countries and 91 cities, The Cloud aims to reach 8,000 locations by 2027 and is on track for a dual listing in Abu Dhabi and Riyadh.
Stefano Sciacca, Managing Director at Aluna Partners, highlighted the potential of The Cloud in the online food delivery market, emphasizing the company's position as a global market leader. The acquisition of KBOX is expected to drive significant market share growth in the UK market.
The Cloud's commitment to revolutionizing the dining experience, empowering restaurateurs, and setting new standards for quality and innovation in the food tech sector is evident in their expansion plans and strategic acquisitions. The company's dedication to growth and innovation positions them for success in the competitive food tech industry.
As The Cloud continues on its growth trajectory, investors and industry experts are optimistic about the company's potential for further expansion and market leadership. With a strong focus on technology, innovation, and strategic partnerships, The Cloud is poised to make a significant impact in the global food tech sector.
Stay tuned for more updates on The Cloud's journey and their efforts to reshape the dining experience on a global scale.
Georges Karam, the Founder & Chairman of The Cloud, expressed excitement about the funding and the recent acquisition of KBOX, a UK-based food tech startup. This move solidifies The Cloud's position as disruptors in the global food tech sector, with a focus on increasing market share and expanding into new territories.
The company's strategy includes accelerating growth, enhancing operational capabilities, and further developing their proprietary technology platform. With a presence in 7 countries and 91 cities, The Cloud aims to reach 8,000 locations by 2027 and is on track for a dual listing in Abu Dhabi and Riyadh.
Stefano Sciacca, Managing Director at Aluna Partners, highlighted the potential of The Cloud in the online food delivery market, emphasizing the company's position as a global market leader. The acquisition of KBOX is expected to drive significant market share growth in the UK market.
The Cloud's commitment to revolutionizing the dining experience, empowering restaurateurs, and setting new standards for quality and innovation in the food tech sector is evident in their expansion plans and strategic acquisitions. The company's dedication to growth and innovation positions them for success in the competitive food tech industry.
As The Cloud continues on its growth trajectory, investors and industry experts are optimistic about the company's potential for further expansion and market leadership. With a strong focus on technology, innovation, and strategic partnerships, The Cloud is poised to make a significant impact in the global food tech sector.
Stay tuned for more updates on The Cloud's journey and their efforts to reshape the dining experience on a global scale.