DailyMealz raises $5M to build the most convenient food delivery experience.
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Saudi Arabia-based healthy food delivery app DailyMealz, has raised $5M in it's pre-Series A round, with a strategic investment from Saudi Airlines Catering and participation from Hala ventures, MLM investment company, VEDA holding, Seedra Ventures, and key strategic angel investors.
Founded in 2017 by Mohamed Elzalabany, Abdulrahman Ahmed, Abdallah Said, and Motaz AbuOnq, Dailymealz enables individuals to order food using weekly and monthly subscriptions through its app for iOS and Android. The KSA-based startup partners with different restaurants and cloud kitchens to offer their food as part of its meal plans. The users can choose different types of subscriptions including healthy, diet, Keto, and fast food, in a few taps, to receive the meals to their offices or homes without having to place an order every time they need it. The food is delivered by its own network of freelance drivers
The Food & Beverage industry in the MENA region saw a 201% YoY growth in 2021, as recorded in the 2022 Emerging Venture Markets Report. This was largely driven by UAE’s cloud kitchen platform Kitopi's mega-round worth $415M. The mega-round accounted for 70% of capital deployed into the Food & Beverage industry and 16% of that deployed across MENA in 2021. Over in KSA, the F&B industry observed a slight 5% YoY dip in capital investment over 2021 but several F&B ventures raised funds to disrupt the sector including Siwar’s $7.5M Series A round and n.go's $1.8M.
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Dailymealz has built in-house fleet management technology to ensure maximum utilization of drivers who deliver multiple orders on every trip. The grouped deliveries result in much better economics for Dailymealz when compared with traditional food delivery players who offer on-demand delivery. The KSA-based F&B startup will be utilizing its newly acquired funds for to support its growth efforts, by introducing new products and expanding geographically.
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