The Cloud, a Hub71 food tech startup, achieves a successful first close of $12 million in its Series B funding round.

UAE-based, The Cloud, a Hub71 food tech startup, has announced the successful closing of its $12 million in the first round of Series B funding with a target of a total of $30 million in the raising. The funding round spotted a new investor in the participation, MENA Moonshots, showcasing confidence in The Cloud’s mission to innovate and expand. This milestone, coupled with deft financing from Aluna Partners, and the strategic acquisition of the UK-based food tech startup KBOX, sets the benchmark for The Cloud, founded by Georges Karam, that aims to redefine the virtual dining landscape in the UAE, the wider GCC region, and Europe. 

The acquisition of KBOX by The Cloud marked a significant shift in making milestones on the global stage, solidifying their position as a homegrown UAE-based food tech startup. This acquisition strategically expands its footprint by 200 locations in the UK. This move underscores the company’s commitment to driving innovation and asserting leadership in the food tech sector, setting the stage for expansion across the UK and other GCC and European markets such as Saudi Arabia, Lithuania, Belgium, and the Netherlands.  

The Series B funding, which is considered to be a balanced mix of equity and debt poses a testament to The Cloud’s vision and its robust business model. Having initially raised $10 million in Series A funding, this round brings The Cloud’s total fundraising combined both rounds equals $22 million, which signifies the company’s capability to bring in collaborators and potential investors such as MENA Moonshots. 

The investments received extend beyond the capital, providing invaluable expertise and access to networks as The Cloud ambitiously eyes new markets and innovative dining solutions.

Georges Karam, CEO of The Cloud, shared his enthusiasm for the new developments, stating: “Our Series B funding and the KBOX acquisition reinforce our position as innovators in the global food tech landscape. Having raised a total of $22 million, we are now focused on enhancing our market presence in the UAE and beyond. Our in-house developed technology and proactive acquisition strategy reflect our vision for industry consolidation and our commitment to scaling strong homegrown brands internationally. Looking forward, we continue to actively eye more strategic acquisitions while also seeking to raise further capital.”

The Managing Director at Aluna Partners, Stefano Sciacca, said that virtual dining and online food marketing is a mega-trend that is going to be in the industry for a long time. With the acquisition of KBOX, The Cloud will surely gain advantageous market share in the UK market.  Furthermore, she added that looking at the potential of The Cloud is emerging as a global market leader and hares her excitement in supporting such a fast-growing venture.

With a digital footprint across 7 countries and 91 cities, and with a goal to reach 8,000 locations by the end of 2027, The Cloud is on track for a dual listing in Abu Dhabi and also in Riyadh, marking a new era of growth for the virtual chain in the EMEA region. As the company advances on this growth trajectory, it remains committed to its mission of transforming the global dining experience, empowering restauranteurs, and setting new benchmarks for quality and innovation in the food tech industry. 

About The Cloud

Falling under the global tech label Hub71, The Cloud is the trailblazer in the field of virtual brand operator space, transforming the user experience in the virtual dining space. With the whole globe in the point of view and support from a large investor base, The Cloud brings in new innovations and unique transformations into the food tech industry, facilitating growth and lead. 

Letting the customers have their hands on a wide range of cuisines both national and international, The Cloud is a food-tech startup that is both innovative and domineering whose aim is to empower underutilized kitchens to bring in revenue, promote those brands’ geographical reach and step into the ever-growing food delivery space. 

The purpose is to gather all the underutilized restaurateurs and brands and offer them an incredible opportunity to open a virtual dining space seamlessly in a few weeks and enjoy benefits like growth in their sales chart, fast expansion, knowledgeable resources, and lesser amount of wastage produced with absolutely zero upfront cost along with capital expenditure, and minimal risk. Whether you are already operating a kitchen or restaurant, expanding a known brand into a new market or looking to launch a new virtual brand; The Cloud makes it easy for you to succeed. 

The Cloud plays a significant role in offering progressive tech resources to the food brands in need, connecting them with the delivery partners and implementing a virtual cloud kitchen model that helps deserving food businesses realize their full potential.