Seera Group, one of the largest travel and tourism companies in the region, announced today that it has successfully led a USD7.5 million Series A funding round of financing for Siwar, including participation by other prominent strategic investors. Siwar, a start-up Saudi food tech company was launched in 2020 to meet the growing and untapped needs of a new generation of consumers within the F&B market, with a focus on the ‘ready to eat food’ segment.
The strategic partnership brings together Siwar’s core strengths of deep consumer insights and state of the art production techniques, with Seera Group’s highly specialised consumer analytics platform and distribution network, providing an ideal platform to fuel future growth opportunities for both companies.
Commenting on this positive development, Majed AlNefaie, CEO of Seera Group, said: “We are excited to lead the Series A round as consumers are embracing online ordering and eating at home like never before. It's an evolution brought on by the pandemic but taking hold for the long term. Siwar is an innovative, fast-growing, food-tech start-up, and we hope it accelerates the Group’s ability to capitalise on the new realities in Saudi Arabia's ready meals market.”
Loaye AlNahedh, CEO of Siwar, added: "We are delighted with the successful close of the Series A funding round with Seera Group as the lead investor. With the successful fund raise, we will be able to fund our high growth business plan and with Seera Group as a strategic partner, Siwar will have access to resources, research & development, and years of experience that we can tap into to catapult our growth plans. We are progressing swiftly towards addressing evolving market needs catering to a new generation of online food delivery, which is aligned with Vision 2030,
- About Siwar: Siwar is a Saudi start up food technology company launched in May 2020. Our goal is to meet the growing and untapped needs of a new generation within the F&B market, especially the ‘ready to eat food’ frozen segment. Our product range captures flavours from around the world, focusing on quality, taste, variety and healthy options, at an affordable price. We use state of the art freeze technology to lock in taste and flavour at source. Our products are widely available across 600+ retail stores in KSA, online via the website & Siwar Mobile Application and through our state of the art “Chef in a Box’ vending machines. Additionally, we partner with leading businesses in the HORECA segment, offering cost-effective catering solutions. By constantly striving to meet the culinary needs of a new generation with environmentally and sustainable packaging at the forefront of our business, Siwar is proud to be aligned with Vision 2030.
- About Seera Group: Seera is the leading provider of diverse travel services in the Middle East and North Africa region. With its balanced portfolio of brands across seven verticals, Seera is regarded as the most knowledgeable and accomplished travel service provider. The Group is a significant contributor to the growth of the domestic, inbound, and outbound tourism economies of the Kingdom of Saudi Arabia and a best-in-class business partner in unlocking the opportunities in the region. Providing technology-powered travel services for consumers, businesses, government partners and pilgrims, Seera offers the opportunity to travel in the Kingdom, across the region, and beyond, like never before.