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Saudi Arabia FoodTech Funding
In the past five years since 2019, Saudi foodtech startups have attracted over $555 million in funding; food delivery startups have snapped up 48% of that total funding ($266 million), indicating just how integral the food delivery sector is to Saudi’s foodtech startup ecosystem.
In 2020, 94% of funding went to delivery-related startups driven by Jahez and Nana raising US $36.5 million and $24.6 million, respectively. In 2021 and 2022, Foodics’ two consecutive rounds eclipsed food-related funding as it went on to raise an additional US $170 million. Finally, in 2023, food-related delivery startups are back capturing 85% of the total funding amount driven by Nana’s US $133 million Series C raise.
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The Future of Food Delivery in Saudi Arabia
The KSA food delivery market, worth US $10 billion in 2023, is expected to hit $14.9 billion by 2028, with food-delivery startups playing a central role in driving that growth, capitalizing on shifting consumer needs. These emerging companies have captured 45% of the $600 million investment in the KSA Foodtech sector, signaling a significant transformation in dining experiences and underscoring their essential role in shaping the future of food delivery in Saudi Arabia.
