News

The Cloud Secures $12M For GCC And European Expansion

The startup is affiliated with Abu Dhabi’s Hub71, and has ambitious plans to evolve the global food tech sector.

Published

11 months ago

February 19, 2024

Nour Nasir

The Cloud

The Cloud, a startup in the food technology sector affiliated with Abu Dhabi’s Hub71, has revealed the successful initial closure of its Series B funding round, securing $12 million out of its total target of $30 million with the help of Aluna Partners and a fresh investment from MENA Moonshots.

The Cloud has also initiated a strategic takeover of KBOX, a leading food tech startup based in the UK. The move gives The Cloud access to an additional 200 UK establishments, and the firm also has ambitious plans to reshape the virtual dining domain across the UAE, the broader GCC region, and Europe.

georges karam ceo the cloud

Georges Karam, CEO of The Cloud, was enthusiastic about the funding round, 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”.

Meanwhile, Stefano Sciacca, Managing Director at Aluna Partners, added, “The online food delivery market is a megatrend 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”.

Also Read: Fintech In The UAE Is Set To Add $900 Per Capita By 2030

The additional capital secured from the Series B financing will play a pivotal role in expediting growth for The Cloud, which already boasts a strong presence in seven countries and 91 cities, coupled with aspirations to extend to 8,000 locations by the close of 2027.

The Cloud is now on course for a dual listing in Abu Dhabi and Riyadh, heralding a new phase of expansion for the virtual chain in the EMEA region. As the company progresses along this growth trajectory, it remains committed to revolutionizing the global dining landscape, empowering restaurateurs, and setting new standards for excellence and innovation in the food sector.

News

“AI Seal” Certification Now Required For Dubai Gov Partnerships

The new mandatory certification is designed to build trust in AI companies and create a reliable network of providers for government and public collaboration.

Published

21 hours ago

January 21, 2025

Nour Nasir

ai seal certification now required for dubai gov partnerships

Dubai Media Office

Dubai has introduced the Dubai AI Seal, a certification designed to establish trust in artificial intelligence (AI) companies and solutions. This initiative, directed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister, aims to create a reliable network of AI providers which government entities and businesses can collaborate confidently.

Companies must now obtain the AI Seal to qualify for UAE or Dubai government contracts. The Dubai Centre for Artificial Intelligence (DCAI), which developed the certification, sees it as a competitive edge for companies looking to participate in key national projects. Once certified, businesses will be permitted to showcase the seal across their websites and marketing materials, signaling their credibility and dependability.

The evaluation process will consider six main criteria: the company’s services and operations, the number of employees specializing in AI, ongoing and future projects, as well as existing partnerships with public and private sector entities.

dubai ai seal certification

Khalfan Belhoul, CEO of the Dubai Future Foundation, which oversees the DCAI, commented on the initiative’s potential: “This initiative will help create powerful partnerships between the public and private sectors, locally, regionally, and globally. It will help drive new economic opportunities by leveraging AI to serve better the economy, society, and the future we aspire to”.

Also Read: Top Free AI Chatbots Available In The Middle East

The Dubai AI Seal’s goals include providing a clear framework for verifying AI providers, fostering business opportunities for AI companies, and acknowledging the industry’s strategic importance to Dubai’s economy. The initiative emphasizes AI’s role in driving economic growth, creating jobs, and strengthening collaboration between government bodies and technology firms.

All technology companies operating in Dubai and offering AI-related services or products are eligible to apply for the certification at no cost through the official website.