Dubai’s GrubTech Raises $13M in Series A
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UAE-based GrubTech, the plug & play, all-in-one operating system for restaurants and cloud kitchens, announced it has successfully raised a $13M Series A investment led by Addition. Other investors in this round include BY Ventures and Hambro Perks Oryx Fund.
Founded in 2019 to address the F&B sector's gap in technology solutions for modern operations, GrubTech’s all-encompassing software powers various key functions including back-of-house, in kitchen operations, and a broad online presence including integrations with various food aggregators and on-premise technologies with an omnichannel point of sale.
The Food and Beverage industry across MENA remains the most funded sector in 2021 as most recently observed in our November 2021 Venture Investment Dashboard. Observing a 236% YoY growth in capital deployed since full year 2020, MENA-based F&B startups raised almost $30M in November alone boosted by a $26M funding round closed by Egypt-based Breadfast. However, that wasn’t the only win for the F&B industry in the second month of Q4, where cloud kitchen Tech startup iKcon has announced its exit after a 2-year journey of fundraising securing $25M before acquisition. GrubTech remains the latest cloud kitchen Tech startup raising stellar funds this year amongst Kitopi, Kitch, iKcon, and ElKaso.
GrubTech’s restaurant management system enables its customers to operate more efficiently, provide a better experience for dine-in and online customers, as well as increase sales by effortlessly operating multiple brands from a single location. The all-in-one platform provides customers with a comprehensive view of their business, and unparalleled operational and sales data, allowing them to make much more informed decisions on how they run their business and capitalize on growth opportunities. “Legacy technology in the F&B space is not built for the modern restaurant. This is resulting in a fragmented set of solutions that a restauranteur or cloud kitchen operator is forced to sift through and stitch up. Not only does this complicate their operation, but it also slows down their ability to expand. We take pride in being able to provide an intuitive and comprehensive platform allowing our clients to focus on what they do best,” said Mohamed Al Fayed, GrubTech’s Co-Founder & CEO.
Omar Rifai, GrubTech’s Co-Founder and Chief Growth Officer also added “Consumers across our various markets are demanding a technology-enabled experience when engaging with their favorite F&B brands, whether it’s on-premise, take out, or online. The GrubTech platform was built from the ground up to empower our clients to better serve their customers across multiple fronts.”
Deployed by clients across 15 countries in the Middle East, Africa, Asia, and Europe, GrubTech has recently celebrated a milestone of processing 2 million orders. The UAE-based startup plans to use its newly acquired funds to continue developing innovative solutions and further extend its reach into new markets. "GrubTech has built a full-suite technology platform to empower F&B companies that have previously been without the best-in-class solutions they need to serve their customers. The company's impressive growth is a testament to the quality of its technology. We’re excited to support GrubTech’s next phase of expansion," concluded Aaron Schildkrout of Addition.
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