UAE-based foodtech startup The Cloud bags $10 million in funding

The Cloud, a UAE-based cloud kitchen startup has raised $10 million in its Series A funding round from a host of investors led by Middle East Venture Partners  (MEVP) and Olayan Financing Company, with participation from others.

• The fund will be used to expand its presence into the Kingdom of Saudi Arabia, support restaurant owners, and improve its talent base and infrastructure, the foodtech startup claims.
• The Abu Dhabi-based startup is a B2B2C platform that enables food businesses to host third-party restaurants. It uses its technology stack to manage online delivery, provides sales insights, and monitors the supply chain in one dashboard.
• It works with entrepreneurs, restaurants, and food chains that are looking to venture into the virtual kitchen space. It provides a tool stack to launch a virtual restaurant within a month and display a curated menu to a larger audience. It also helps food businesses to improve revenues, launch food delivery and expand into new geographies.
• The cloud kitchen startup aims to expand to international markets, including the GCC and Europe. It raised a pre-seed round in 2019 and another round at the end of 2020.