TechDogs-"Grubtech Raises $15 Million"

Software Development

Grubtech Raises $15 Million

By PR Newswire

PR Newswire
Overall Rating

Led by Jahez Group, funds will accelerate geographic expansion into Saudi Arabia, Europe and the UK

DUBAI, UAE, May 28, 2024 /PRNewswire/ -- Grubtech, a leading SaaS integration and unified commerce platform that empowers F&B and Quick Commerce enterprises, announced it has raised $15 million as part of its Series B and a Series A extension round.  The Series B round was led by the VC arm of Jahez Group, a leading online food and quick commerce marketplace listed in Saudi Arabia, with the participation of existing investors Addition and Oryx Fund, the MENA-dedicated fund of Hambro Perks.

Grubtech was founded in 2019 to address the F&B sector's gap in technology solutions for omnichannel operations.  Its flagship solution, gOnline, provides users a true unified commerce engine by integrating a wide set of online and in-store ordering channels into downstream systems like POS, ERP, Inventory, 3rd party logistic and loyalty solutions.  Grubtech also has solutions to streamline in-store operations, fulfillment, and AI driven data analysis. 

Grubtech's customer base across 18 markets has evolved beyond F&B to include other quick commerce category leaders such as groceries and pharmacies. The Company plans to use the proceeds to accelerate geographic expansion and establish offices in Saudi Arabia, Europe and the UK.

"Online F&B and quick commerce sales continue to grow at a rapid pace.  Our products empower our customers to continue using elements of their tech stack, like a POS, while adopting new sales channels and digital solutions seamlessly, getting rid of silos within operations and data," said Mohamed Al Fayed, Grubtech's Co-Founder & CEO.  "We are excited to continue our push into different markets where we've identified strong demand and growth potential."

Through Grubtech's solutions, customers are able to increase sales volumes substantially across multiple channels while also improving fulfillment time and accessing an abundance of real time data accessible for operational and strategic decision making.  After adopting Grubtech's solutions, operators can easily double sales per square meter and improve speed of service by 25% while saving on operating expenses and reducing wastage.

Abdulaziz Alhouti, Jahez Group's Chief Investment Officer said, "Having invested in multiple technology solutions across the F&B and Quick Commerce sector, we've seen firsthand the value of Grubtech's integration platform across our merchant base.  We're excited to back the team at Grubtech as they continue to innovate with new products and push into new geographies."

Photo: https://mma.prnewswire.com/media/2421654/Grubtech.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/grubtech-raises-15-million-302155197.html

SOURCE Grubtech

First published on Tue, May 28, 2024

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