Iraq's Alsaree3 Secures New Seven-Figure Investment
Date
6/25/2024 9:01:16 PM
(MENAFN- Iraq Business News)
By John Lee.
Food and last-mile delivery service Alsaree3 has announced that it has successfully closed its 'Series A' capital raising round, securing an undisclosed seven-figure investment.
A press release describes this funding round as particularly noteworthy due to the participation of Snoonu , which it says is Qatar's leading food delivery and e-commerce platform.
It adds that the new funding will enable Alsaree3, founded by Bassam Al-Ateia, to accelerate its growth plans in Iraq, and highlights the unique potential and attraction of the Iraqi market, especially when compared to other Gulf countries.
The round was anchored by Euphrates Ventures , with the participation of Iraq Venture Partners (IVP) , who also facilitated the round.
Geoffrey Batt of Euphrates Ventures, said:
"Alsaree3 is a true Iraqi success story ... We are thrilled to anchor this round that is as much about technology sharing between Snoonu and Alsaree3 as it is about investment capital"
Mohammed Khudairi, IVP General Partner, added:
"[Alsaree3's] success will have a positive ripple effect across the whole Iraqi ecosystem. We are keen to contribute towards its success journey."
(Source: IVP)
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