UAE's Restaurant Management Platform The Cloud Raises $10M Series A
Founded in 2019 by Kamil Rogalinski and George Karam, The Cloud has fashioned itself as ‘the Airbnb of Kitchens’, allowing restaurant owners to increase their utilisation.
The Cloud, UAE-based cloud kitchen, has raised $10 million in funding led by Middle East Venture Partners (MEVP) and Olayan Financing Company, with participation from Rua Growth Fund.
Founded in 2019 by Kamil Rogalinski and George Karam, The Cloud has fashioned itself as ‘the Airbnb of Kitchens’, allowing restaurant owners to increase their utilisation by transforming restaurants into cloud kitchens. Its proprietary tech stack and virtual brands portfolio enables restaurants to achieve a full virtual set-up in less than 30 days. The tech suite, which is developed in-house, also helps the company scale to international markets.
“The Cloud completely reimagines what a restaurant is and how it achieves scalability in the digital economy, which is why I am so delighted that our Series A funding raised $10 million in such a short space of time,” George Karam, co-founder & CEO of The Cloud, tells StartupScene.
The new funding will support the startup’s expansion to Saudi Arabia and across the GCC. It will also help them grow the team and develop their infrastructure to accelerate development of their AI- powered kitchen platform.
The Food and Beverage industry is one of the most funded sectors in MENA, raising $900 million in 2021, according to data platform Magnitt. The region continues to see investments being deployed in this sector: in H1’22, $170 million was raised, mainly from KSA’s Foodics closing $170 million Series C round.
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Jan 31, 2024