Saudi Arabia's Blend Raises $13 Million in Pre-Seed Funding
Saudi Startup Blend Secures Funding for Food Delivery Tech
Saudi-based SaaS provider Blend has raised $13 million in a pre-seed investment round backed by angel investors.
The funding will be used to further develop Blend's food delivery technology and expand its operations in the Middle East and North Africa (MENA) region.
Key Takeaways:
- Blend raised $13 million in a pre-seed investment round.
- The funding will be used to develop Blend's food delivery technology and expand its operations in the MENA region.
- The investment round was led by a group of angel investors.
- Blend is a Saudi-based SaaS provider that offers a range of food delivery solutions.
- The MENA region is a rapidly growing market for food delivery services.
Blend's Food Delivery Technology
Blend offers a range of food delivery solutions, including:
- An online ordering platform
- A mobile app
- A fleet of delivery drivers
Blend's technology is designed to make it easy for customers to order food from their favorite restaurants and have it delivered to their door.
The MENA Food Delivery Market
The MENA region is a rapidly growing market for food delivery services.
According to a report by Mordor Intelligence, the MENA food delivery market is expected to grow from $8.3 billion in 2021 to $19.6 billion by 2026.
This growth is being driven by a number of factors, including:
- The increasing popularity of online food ordering
- The growing number of smartphone users in the region
- The rising disposable incomes of consumers
Blend's Expansion Plans
Blend plans to use the funding to expand its operations in the MENA region.
The company is currently operating in Saudi Arabia, the United Arab Emirates, and Egypt.
Blend plans to launch its services in additional countries in the region in the coming months.
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