Kaso Raises $10.5M in Seed Funding

Kaso, a Riyadh, Saudi Arabia Kingdom-based provider of a B2B platform digitizing & automating procurement between restaurants and food suppliers in the Middle East, raised $10.5M in Seed funding.

Backers included BY VP, Hala Ventures, Seedra Ventures, Pioneer Fund, Spade Ventures, Derayah, Vulpes Ventures, Cyfr, regional family offices, and other investors from KSA, along with contributions from previous investors such as GFC and MSA.

The company intends to use the funds to expand operations, enhance its technology platform, and achieve a GMV of $1 billion within 12 months.

Currently operating in KSA and UAE, KASO is the Middle East’s platform connecting restaurants with suppliers and is currently serving over 5000 partners in KSA and UAE alone. The company was founded by tech entrepreneurs Manar Alkassar and Ahmed Soliman, with the vision to work for the food supply chain. By digitizing the relationship between restaurants and suppliers, they improve efficiency and transparency in the food supply chain and reduce food waste in the region.

FinSMEs

22/07/2023