Al Menu raises $10 million to boost operations in Saudi Arabia
- Al Menu, a Saudi Arabia-based food and beverage SaaS provider, has successfully raised $10.12 million (38 million SAR) in a funding round led by Al Majdiah Investment and other investors.
- Founded in 2022 by Mamdoh Ali, Al Menu specializes in providing cloud-based solutions to enhance the operations of restaurants and cafes across Saudi Arabia.
- The funding will be used to expand Al Menu’s restaurant services and strengthen their operational capabilities, targeting increased efficiency and reduced management costs for their clients.
- The investment aligns with Saudi Arabia’s Vision 2030 goals by aiming to improve the hospitality sector and making it more attractive for further investments.
- Al Menu has demonstrated significant growth in managing numerous restaurants and cafes, contributing positively to the development of the food and beverage sector in the Kingdom.
Al Menu raises $10 million to boost operations in Saudi Arabia
- Saudi Arabia-based F&B SaaS provider Al Menu has closed a $10.12 funding round, led by Al Majdiah Investment and other investors.
- Founded in 2022 by Mamdoh Ali, Al Menu provides cloud-based solutions for restaurants and cafes in Saudi Arabia.
- The investment aims to support the company’s expansion in restaurant service.
Source: EntArabi
Al Menu, a company specialising in restaurant operations, has announced the successful closing of a funding round worth 38 million Saudi Riyals, led by Al Majdiah Investment and other investors. The investment aims to support the company’s expansion in restaurant services, where Al Menu has shown significant growth in managing a large number of restaurants and cafes, contributing to the development of one of the Kingdom’s key sectors.
Mamdoh Ali, CEO of Al Menu, stated that the company aims to provide operational solutions for thousands of restaurants and cafes by reducing operational management costs and increasing workforce efficiency in this sector, which has witnessed remarkable growth in recent years.
Nasser Al Majid, CEO of Al Majdiah Investment, added that their investment in Al Menu is aimed at strengthening the role of this sector in achieving the Vision 2030 goals for the hospitality industry by offering innovative operational solutions at competitive prices, enhancing the efficiency of this promising sector, and boosting its investment appeal.
Based on the provided information, here’s a summarized list of the details regarding the funding round for Al Menu:
Fundraising Details
- Amount Raised: $10.12 million (38 million Saudi Riyals)
- Funding Round Type: Not explicitly specified, but it appears to be a Series A or similar early-stage investment.
Investors
- Lead Investor: Al Majdiah Investment
- Other Investors: Not specified in the article.
Startup
- Name: Al Menu
- Industry: Food & Beverage (F&B) SaaS
- Founded: 2022
- Headquarters: Saudi Arabia
Founders
- Founder: Mamdoh Ali (also the CEO)
Purpose of Investment
- To support the expansion of Al Menu’s operations in restaurant services in Saudi Arabia.
- To provide cloud-based solutions aimed at reducing operational management costs and increasing workforce efficiency in restaurants and cafes.
Additional Notes
- Mamdoh Ali emphasized the company’s goal to enhance operational solutions for the restaurant industry.
- Nasser Al Majid (CEO of Al Majdiah Investment) stated that the investment aligns with the Vision 2030 goals for the hospitality industry in Saudi Arabia.
This summary encapsulates the relevant details pertaining to the funding round for Al Menu.
Leave a Reply