B2B food ordering platform Kaso raised $10.5 M Seed funding from Global Founders Capital, others
In order to further its goal of upending the food supply chain, Kaso, which describes itself as the largest B2B ordering platform for Middle Eastern restaurants and suppliers, has raised US $10.5 million in a seed round.
Investors included BY VP, Global Founders Capital, Hala Ventures, Seedra Ventures, Pioneer Fund, Spade Ventures, Vulpes Ventures, Cyfr, and MSA Novo.
The Dubai-based company, which was established in 2021, has 5,000 partners right now in Saudi Arabia and the United Arab Emirates. With its platform, restaurants, and suppliers can more easily fulfill orders, increasing efficiency and transparency while reducing food waste.
The company calculates that each person wastes about 250 kilograms of food annually in the Middle East and North Africa (MENA) region.
The gross merchandise value goal for Kaso is to reach $1 billion by the following year. Additionally, a fintech vertical has been added, offering restaurants a variety of payment options and longer credit terms.
By 2024, the F&B market in the MENA region is predicted to be worth US $171 billion, according to Ahmed Soliman, one of Kaso’s co-founders.
