MUNCH:ON, based in the United Arab Emirates, has been acquired by Careem. - MENA startups, innovation, and tech news

Blog

MUNCH:ON, based in the United Arab Emirates, has been acquired by Careem.
funding in duabi
Funding

MUNCH:ON, based in the United Arab Emirates, has been acquired by Careem.

Another MENA-based M&A play involving a large player, a Tech startup, and a future-forward business model. Super App and Multi-Service provider Careem has acquired UAE-based Food Delivery Tech company MUNCH:ON

MUNCH:ON was founded in 2016 by Mohammad Al Zaben, Dana Baki, and Awn Ali. It is subscription-based food delivery platform that provides clients with discounted meals by utilising unused kitchen space and scheduling, packaging, and routing technology. 
The method generates significant efficiencies for restaurants and cloud kitchens and has expanded the market for business lunches. 
The UAEbasedIT business has raised more than $16 million over four fundraising rounds, with backing from a consortium of senior investors including Global Ventures, Shorooq Partners, Derayah, and Vision Ventures.
Munch:On will stop doing business every day, and the service will be put back together on the Careem app. The teams from Careem Food and Munch:On will work together to bring even more value to customers. They will do this by introducing low-cost meal segments that Munch:On was the first to offer in the region, as well as new food discovery and delivery options for businesses. Munch:On has sent millions of meals to customers at 20,000 businesses.
In the UAE, the Careem Super App offers more than dozen services, such as ride-hailing, food and grocery delivery, micromobility,payments, and partner services like car rental, home cleaning, and PCR testing. 
Careem Food has access to more than 18,000 restaurants in core cities in the UAE, Saudi Arabia, Jordan, and Qatar. It serves lot of people.

Related posts

Leave a Reply

Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.