UAE-based cloud kitchen startup The Cloud has taken a significant step towards solidifying its position as a global leader in the food tech industry. The company recently secured $12 million in its Series B funding round, led by MENA Moonshots. This latest investment brings their total funding to $22 million, following a previous $10 million Series A round and debt financing from Aluna Partners.

The secured funds will be instrumental in fueling The Cloud's ambitious global expansion plans. A key element of this strategy is the recent acquisition of UK-based food tech company KBOX. This strategic move strengthens The Cloud's presence in the international market, adding 200 locations to its existing network. With the acquisition, The Cloud now boasts a total of 200 locations across 7 countries and 91 cities.

Beyond geographical expansion, The Cloud remains dedicated to its core mission of redefining the virtual dining landscape.
The company's innovative approach connects restaurant owners with external food delivery companies, optimizing kitchen utilization and fostering a collaborative environment within the food tech sector. This unique business model positions The Cloud as a disruptor in the industry, constantly seeking to drive innovation and enhance the dining experience for both consumers and restaurant partners.

Key Highlights:

• Funding:Secured $12 million in Series B round, led by MENA Moonshots, bringing total funding to $22 million.
• Acquisition:Acquired KBOX, a UK-based food tech company, expanding The Cloud's network by 200 locations.
• Expansion:Aims to reach a global presence of 8,000 locations by 2027.
• Future:Exploring the possibility of a dual listing in Abu Dhabi and Riyadh.

Quotes:

• Georges Karam, CEO of The Cloud:"Our Series B funding and the KBOX acquisition reinforce our position as innovators in the global food tech landscape. With a strong financial backing and a strategic acquisition under our belt, we are now focused on further enhancing our market presence in the UAE and beyond."
  
  
• Stefano Sciacca, Managing Director at Aluna Partners:"We believe that The Cloud will gain a significant market share in the UK market through the acquisition of KBOX. Having looked at many food tech business models, we believe The Cloud is emerging as a global market leader and are excited to support such a fast-growing venture."

The Cloud's recent achievements demonstrate its commitment to growth, innovation, and leadership within the food tech industry. With a robust business model, a strategic acquisition strategy, and a clear vision for the future, The Cloud is well-positioned to achieve its ambitious goals and continue shaping the landscape of virtual dining on a global scale.