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

9 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

1,000 Drones Light The Dubai Sky For AC Milan Celebration

Cyberdrone’s groundbreaking display marked 125 years of AC Milan football club and the 1st-year anniversary of Casa Milan Dubai.

Published

2 hours ago

November 21, 2024

Nour Nasir

Cyberdrone, a leading UAV display company based in Dubai, put on a breathtaking drone light show on Monday to honor two significant football milestones: AC Milan’s 125th anniversary and the one-year anniversary of Casa Milan Dubai.

The spectacle involved 1,000 drones working in perfect harmony to project AC Milan’s iconic imagery against the city’s night sky. Highlights included the UAVs synchronizing to form the club’s iconic crest, the signature red and black jersey, and a special emblem marking its 125th year. The intricate performance demanded meticulous planning, not just in terms of choreography, but also in dealing with the necessary permits and logistics.

cyberdrone ac milan dubai

“Our goal was to spotlight AC Milan’s legacy through a stunning visual narrative,” explained Mohamed Munjed Abdulla, Director of Sales at Cyberdrone. “We celebrated the club’s history, its Dubai milestone, and the universal love for football. The show also enhanced AC Milan’s regional presence, growing its fanbase through a cutting-edge, memorable experience. Drone shows are unparalleled in leaving lasting impressions, making them perfect for driving partnerships and growth”.

Also Read: Joby Begins Construction Of Dubai’s First Vertiport For Air Taxis

Greta Nardeschi, AC Milan’s Regional Director for MENA, echoed the sentiment, adding: “Collaborating with Cyberdrone for this 1,000-drone performance allowed us to connect with our fans in innovative ways. It gave us a unique opportunity to surprise and inspire audiences while elevating our Club’s visibility and that of our partners. Cyberdrone truly helped us take AC Milan to new heights”.

This groundbreaking drone display sets a new benchmark for the Middle East’s sports sector, which already contributes around $2.4 billion annually to Dubai’s GDP alone. Sporting events also generate $1.76 billion in revenues across the region, while the MENA’s entertainment sector, valued at $41.13 billion, is growing at 9.41% annually, driven by rapid technological advancements.