Foodtech Siwar raises $7.5 million Series A round led by Seera Group
- Saudi Arabia-based food tech startup Siwar has raised SR28 million ($7.45 million) in a Series A round, led by travel and tourism operator Seera Group, with participation from other undisclosed investors.
- The partnership will enable Siwar to access Seera Group’s consumer analytics platform and distribution network, while the latter will benefit from the startup’s tech stack and product development capabilities.
Source: Arab News
Saudi startup Siwar has raised $7.5 million in its latest Series A funding round led by Seera Group, the Riyadh-based travel services company.
Launched in 2020, the food tech startup aims to meet an increasing demand of a new range of customers within the food and beverage market, with a special focus on ‘ready to eat’ food.
The partnership between Siwar and Seera group could provide the springboard for further growth opportunities for both companies.
“With the successful fundraise, we will be able to fund our high-growth business plan. With Seera Group as a strategic partner, Siwar will have access to resources, research and development, and years of experience that we can tap into to catapult our growth plans,” Loaye Al Nahedh, chief executive officer of Siwar, said.
Siwar aims to use its recently secured funds to support its market growth and develop its platform and food offering.