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

8 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

HiFuture Wraps Up Successful GITEX GLOBAL 2024 Appearance

The electronics company wowed audiences at the world’s largest tech event with a range of wearable and smart audio devices.

Published

1 day ago

October 21, 2024

Nour Nasir

hifuture wraps up successful gitex global 2024 appearance

This year’s GITEX GLOBAL 2024 in Dubai saw a huge number of startups, electronics firms, and innovators from around the globe gather for the tech sector’s largest event of its kind. One company making waves at this year’s expo was Chinese tech group HiFuture, which showcased a range of products with a focus on wearable technology and smart audio.

At the HiFuture booth, the company captivated attendees with cutting-edge smartwatches like the ACTIVE and AURORA, along with a range of powerful wireless speakers, earbuds, and even smart rings. Visitors were eager to check out the sleek new designs on offer and even had the chance to test out some of the products themselves.

hifuture gitex global 2024 dubai

Among the highlights were smartwatches combining dual-core processors with customizable options. The devices blended style and technology, offering health monitoring capabilities, personalized watch faces, and advanced AI-driven functionalities, giving attendees a taste of the future of wearable technology.

On the audio front, HiFuture’s wireless speakers left a lasting impression, offering rich, immersive sound in compact, portable designs. These speakers cater to both intimate gatherings and larger celebrations, offering versatility for users. Meanwhile, the company also showed off its Syntra AI technology, which it claims “revolutionizes health and fitness tracking by combining advanced optical sensors with intelligent algorithms for precise, real-time insights”.

Also Read: How (And Why) To Start A Tech Business In Dubai

The presence of HiFuture’s leadership team at GITEX 2024 underscored the importance of this event for the company, with CEO Levin Liu leading a team of executives, all keen to engage with attendees and offer insights into HiFuture’s vision, product development process, and future direction.

Overall, it seems that GITEX GLOBAL 2024 has been a rewarding experience for HiFuture. The enthusiasm and curiosity of attendees shown to the company’s diverse range of products was obvious, with the HiFuture team leaving on a high note and clearly excited and motivated by the event.