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

3 years 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

Microsoft Plans $10 Billion-Plus Gulf Expansion Despite Iran Conflict

Security is shaping Microsoft’s approach, from resilience work with governments to what it will say about how the money splits by country.

Published

4 days ago

September 24, 2026

Nour Nasir

Microsoft

Microsoft is planning more than $10 billion of investment across the UAE, Saudi Arabia, Qatar and Kuwait through 2030, Vice Chair and President Brad Smith told Reuters, calling the spending schedule aggressive. The Iranian conflict that began on February 28 has not persuaded the company to scale back.

“We’re sustaining all the investments we planned to make before this conflict started, and we are in fact adding to them,” Smith said. The $10 billion-plus total does not, however, show how large those additions are.

The investment, which Smith described as part of Microsoft’s continued infrastructure expansion, is aimed at cloud and AI infrastructure and at the company’s growing regional operations. Microsoft also intends to put more than $400 million into subsea and terrestrial connectivity across the Middle East by 2030.

The spending fits the region’s own ambitions too. Gulf governments have been investing heavily in AI infrastructure as part of a push to diversify their economies beyond oil and gas and turn themselves into global technology hubs. Major cloud and AI providers have been drawn in part by the land and relatively low-cost energy on offer.

Microsoft is widening its partnerships with regional AI companies, though not on identical terms. In 2024, it invested $1.5 billion in Abu Dhabi-based G42 for a minority stake, and Smith currently sits on G42’s board. Saudi Arabia’s Humain and Qatar’s Qai are working with Microsoft on selected priority areas, but Smith said the company does not plan to make capital investments in either.

Also Read: Egypt’s Mobile Wallets Are Booming, But Cash Still Has Power

The conflict has added another strand to Microsoft’s work in the region. Since it began, Smith said, the company has supported regional partners with digital resilience assessments, and it is now working with Gulf countries through a digital resilience initiative focused on preparedness and the protection of critical data.

So far, the company has given no country-by-country breakdown of the investment, citing security among other factors. So while the headline figure is public, how Microsoft divides the spending among the four countries is not.