Bahrain's Eat App raises $11M Series B
Eat App, a restaurant reservation platform, has secured $11M in a Series B round for its expansion plans.
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Bahrain-based Eat App has secured $11M in a Series B round from MEVP, 500 Startups, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company, with participation from existing investors. Founded by Nezar Kadhem and David Feuillard in Dubai in 2015 as a restaurant reservation and table management platform, Eat App provides cloud-based applications to restaurants for real-time restaurant reservations, automation, guest data management, and CRM.
The Food and Beverage industry picked up during the pandemic and recorded 2021 as the highest funded year raising almost $900M with Cloud Kitchen startup Kitopi accumulating the lion’s share of investment. According to real-time data from our Advanced Analytics tool, the Middle East continues to see increasing traction with KSA’s Foodics closing a Mega Round of $170M Series C. In addition, we have seen multiple sizable rounds being closed by the likes of UAE’s The Cloud ($10M Series A) and Lebanon’s toters ($18M Series B).
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The UAE-based startup is aiming to expand in the UK, North America, and the Middle East, especially Saudi Arabia. Nezar Kadhem, co-founder and CEO of Eat App, said in a statement, “Looking back, the pandemic impacted Eat App greatly. Whilst it caused a drop in revenue, it was also one of the largest accelerators of the business, as restaurants were forced to implement digital tools.”
The funds will be used mainly to fuel Eat App’s global expansion as in-person dining fully recovers and for product development focused around helping restaurants and hospitality operators digitize, manage and optimize the guest experience. “We are very impressed with Eat App’s guest data and reservation technology, as well as its resiliency and growth through the pandemic.” Says Hasan Haider, one of Eat App’s board members. “Eat App is uniquely positioned to expand globally, and we are excited to partner with the team to support their next phase of growth.”
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Source: forbesmiddleeast.com