KSA-based Food Tech Yaa raises $2.1M
KSA-based Food Tech startup preparing fresh raw material for on-demand dispatch Yaa ياء has raised $2.1M to expand its services across the Kingdom.
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KSA-based Food Tech startup Yaa ياء has successfully raised $2.1M (SAR 7.8M) in its latest funding round backed by Tasaru Holding.
Founded in 2020, the Food Tech startup specializes in the production and supply of fresh raw materials and basic food products to dispatch for restaurants and businesses across 6 different cities in Riyad. Yaa makes it easy for owners of restaurants, cafes, cloud kitchens, and individuals to schedule orders for fresh food products from vegetables and fruits prepared on demand.
As recorded in our MENA 2022 Venture Investment Report, available for purchase, the F&B sector across MENA has made a comeback in 2021 to account for 23% of funds raised throughout the year. In part, this was driven by Kitopi’s $415M Mega Round as well as sizable investments backing cloud kitchen tech startups including iKcon, GrubTech, and Kitch. Over in KSA, although the F&B industry observed a slight 5% YoY dip in capital investment over 2021, several F&B ventures raised funds to enhance or disrupt the food sector in the Kingdom. Of the F&B investments raised last year, we highlight F&B aggregator and platform consolidator Foodics which recently acquired Jorda-based POSRocket to expand across the region, FoodTech startup Siwar which raised the second-highest F&B fundraised in 2021, as well as Food Aggregator Koinz providing restaurants with data-powered dashboards to enhance the customer engagement experience.
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The startup manages production and distribution operations through an integrated factory and refrigerated delivery fleet in pursuit of the highest quality of service and products, according to the company statement. Yaa stated that its factory produces more than 100 products and more than 300 items currently, with a production capacity of 300 tons per month. In the next stage, the startup aims to funnel its newly acquired funds to expand geographically in the Kingdom of Saudi Arabia in addition to increasing production and varieties to keep pace with market demand.
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