UAE-based food delivery startup LUNCH:ON has secured a further $2.5 million in the final closing of its Series A round, bringing the total funding round to $5.5 million.
The company raised about $3 million in the initial close of the round last February.
The round was led by Wamda Capital & Global Ventures, with B&Y Ventures, Derayah Capital, Mindshift Capital, Shorooq Investments, Vision VC with EATventure, Arzan VC, Abu Nayyan Holding, Dubai Angel Investors, Aljammaz Group and other investors.
LUNCH:ON was co-founded by Mohammad Al Zaben and Dana Baki in 2016. It operates as a virtual canteen for companies. The company partners with local restaurants to offer corporates and their employees curated meals, delivered to the office, at discounted prices.
With its LUNCH:ON pro-subscription, customers can get their daily lunch for a fixed price of AED25. Employees in each office receive a curated menu from three different restaurants daily, based on the preferences and ordering patterns of the customers in that office.
The company currently works with over 200 of Dubai’s favorite restaurants and delivers to more than 500 major companies across the UAE.
“We identified a gap in the market as it relates to affordable lunch options for working professionals. LUNCH:ON offers a simple solution that saves customers both time and money while also benefiting our restaurant partners,” said Mohammad Al Zaben, co-founder of LUNCH:ON.
“Our new catering platform gives office admins a simple way to get catered food, from over 200 restaurants, for their internal meetings and events. Companies are now able to order platters, plan food for any kind of event or order the traditional LUNCH:ON boxed meals for their teams, with just a few clicks,” said Dana Baki, co-founder of LUNCH:ON.
LUNCH:ON was ranked 60 in Forbes Middle East’s list of “Top 100 Startups in The Middle East 2018”.
The food tech sector is growing across the region and F&B sales recorded $145 billion in MENA region last year, and that is set to grow to $171 billion by 2023, according to the Gulfood global industry outlook report.