KSA-Based Foodtech Startup Barakah Raises $1.5 Million Seed Round
Barakah’s app helps turn unsold food into business opportunities by allowing customers to purchase fresh food surplus.
Saudi foodtech startup Barakah has raised $1.5 million in funding in a Seed Round led by Hambro Perks Oryx Fund, with participation from 500 Global, +VC, KAUST Innovation Ventures, Annex Investment, and several strategic angel investors.
Founded in 2021 by Rabah Habiss, Abdulaziz Al Saud and Munira AlMuammar, Barakah’s app helps turn unsold food into business opportunities by allowing customers to purchase fresh food surplus from nearby restaurants and F&B merchants. The company currently serves in Riyadh and Jeddah, and the funds will allow their expansion into other major cities in Saudi, as well as enhance Barakah’s offerings in existing markets.
”Hambro Perks Oryx Fund is delighted to be an early supporter and investor in Barakah, one of the fastest-growing food-tech startups in the Kingdom of Saudi Arabia,” Ivo Detelinov, general partner of Hambro Perks Oryx Fund, tells StartupScene.
Barakah is seeking to drive positive change within their industry; their services attempt to combat the 1.3 billion tons of produced food waste every year by delivering value to the consumer and the merchant. With businesses able to tap into additional revenue streams, to optimise their inventory, and to connect with a broader consumer base, the company is poised to disrupt the ever-evolving foodtech industry.