• Part of Abu Dhabi’s Hub71, The Cloud secures $12 million in Series B funding, with MENA Moonshots among the new investors, reflecting broad market confidence
  • Acquisition of KBOX adds 200 locations in the UK to The Cloud's global portfolio, purchased for an undisclosed amount, signaling a strategic move into the European market with expansion planned in the UK, Lithuania, Belgium, and the Netherlands
  • Founder & Chairman Georges Karam, alongside strategic investors, positions The Cloud as a disruptor in the food tech sector, aiming for a dual listing in Abu Dhabi and Riyadh by 2027 with a target of 8,000 locations

Dubai, UAE: The Cloud, a Hub71 food tech startup, has announced the successful first close of its $12 million Series B funding round out of a total $30 million it is raising. The funding round saw participation from a new investor, MENA Moonshots, showcasing confidence in The Cloud's mission to innovate and expand.

This milestone, coupled with debt financing from Aluna Partners, and the strategic acquisition of the UK-based food tech startup KBOX, marks a significant stride for The Cloud, founded by Georges Karam, towards redefining the virtual dining landscape in the UAE, the wider GCC region, and Europe.

In a move to solidify its position as a homegrown UAE-based startup making significant inroads on the global stage, The Cloud's acquisition of KBOX strategically expands its footprint by 200 locations in the UK. This move underlines 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 Netherlands.

The Series B funding, a balanced mix of equity and debt, is a testament to The Cloud's robust business model and its vision. Having initially raised $10 million in the Series A funding, this round brings The Cloud’s total funds raised to $22 million, which highlights the company's capacity to attract strategic partners like MENA Moonshots. The investments extend beyond 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.”

Stefano Sciacca, Managing Director at Aluna Partners, said, “The online food delivery market is a mega trend that is here to stay. We believe that The Cloud will gain 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 additional capital from the Series B funding will be instrumental in accelerating growth, with a significant portion earmarked for international expansion, enhancing operational capabilities, and further developing The Cloud's proprietary technology platform.

With a presence in 7 countries and 91 cities, and ambitions to reach 8,000 locations by the end of 2027, The Cloud is on track for a dual listing in Abu Dhabi and 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 restaurateurs, and setting new benchmarks for quality and innovation in the food tech industry.

About The Cloud

The Cloud, part of Hub71’s global tech ecosystem, is a pioneer in the virtual brand operator space, redefining the way people experience virtual dining. With a global perspective and support from a diverse investor base, The Cloud continues to lead the industry, driving innovation and growth.

Enabling customers to enjoy a wide variety of global cuisines, The Cloud is an innovative start-up that empowers underutilized kitchens to earn revenue, increase their geographical reach and enter the high-in-demand food delivery space. The solution provides an incredible opportunity for food entrepreneurs and brands to seamlessly open a virtual restaurant in just weeks and enjoy numerous benefits like rise in sales, fast expansion, knowledgeable resources and reduced wastage with no upfront costs, 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 vital role in providing progressive tech resources to food brands in need, connecting them with delivery partners and implementing a virtual cloud kitchen model that helps deserving food businesses realize their full potential.

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Media Contacts
The Cloud
Martin Kubler
hello@martinkubler.com
Weber Shandwick
Karan Narsinghani
Account Director
KNarsinghani@webershandwick.com