In a recent development for the UAE’s food tech scene, The Cloud, a startup based in Hub71, has announced securing $12 million in Series B funding, with plans to raise a total of $30 million. This funding, marked by the entry of new investor MENA Moonshots, showcases a significant vote of confidence in The Cloud’s mission to revolutionize the virtual dining landscape.
The Cloud’s strategic move doesn’t stop at funding alone. With the backing of debt financing from Aluna Partners and the acquisition of leading UK-based food tech startup KBOX, The Cloud is poised for unprecedented growth. Founded by Georges Karam, The Cloud’s vision extends beyond borders, aiming to redefine the culinary experience not only in the UAE and the wider GCC region but also in Europe.
The acquisition of KBOX strategically expands The Cloud’s footprint by 200 locations in the UK, underlining the company’s commitment to innovation and market leadership. This strategic move paves the way for expansion across the UK and into other GCC and European markets, including Saudi Arabia, Lithuania, Belgium, and the Netherlands.
Georges Karam, CEO of The Cloud, expressed his excitement about the recent developments, emphasizing their commitment to industry consolidation and scaling strong homegrown brands internationally. With a total funding of $22 million, including the Series A round, The Cloud is well-positioned to drive market presence and technological advancements.
Stefano Sciacca, Managing Director at Aluna Partners, highlighted the immense potential of The Cloud in the online food delivery market. The acquisition of KBOX is expected to propel The Cloud’s market share in the UK significantly, cementing its status as a global market leader in the food tech sector.
The influx of capital from the Series B funding will fuel The Cloud’s expansion plans, focusing on international growth, operational enhancements, and further development of its proprietary technology platform. With a presence in 7 countries and ambitions to reach 8,000 locations by 2027, The Cloud is set for a dual listing in Abu Dhabi and Riyadh, signaling a new phase of growth in the EMEA region.
As The Cloud advances on its growth trajectory, its mission to transform the global dining experience remains unwavering. With a dedication to empowering restaurateurs and setting new standards for quality and innovation, The Cloud is poised to dominate the food tech industry on a global scale.
