Food Tech In­vest­ments in MENA (2012-2017)

Not in­clud­ing ac­qui­si­tions

Arabnet - The Quarterly - - Business -

World­wide, food de­liv­ery star­tups dom­i­nate the food sec­tor, hav­ing raised r $8B in 2015/2016, and $5.3B in 2017 alone. In MENA, food de­liv­ery star­tups have se­cured 33% of to­tal fund­ing into the food tech sec­tor in the past five years, and six re­gional food de­liv­ery star­tups Car­riage, 24h.ae, ifood. jo, j Ot­lob, Tal­a­bat, and Hunger Sta­tion were ac­quired by key global play­ers.

How­ever, although fund­ing in food f tech star­tups is in­creas­ing, many star­tups still strug­gle to bring their prod­ucts and ser­vices to mar­ket, de­spite the food sec­tor be­ing one of the fast grow­ing sec­tors in the re­gion. To tackle this prob­lem, Kuwait-based Savour, MENA’S first food ac­cel­er­a­tor, was launched ear­lier this year to help food star­tups scale their busi­nesses. The ac­cel­er­a­tor, which will fund up to $165K per team, will also pro­vide star­tups with ac­cess to a cowork­ing space and a net­work of men­tors for guid­ance.

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