Qatar's Snoonu raises $12 million in a Series B funding round

Qatar's Snoonu raises $12 million in a Series B funding round

By Staff Writer, 04 May 2023

Doha, QATAR  — Snoonu, Qatar’s leading online food delivery app, has announced the completion of its Series B funding round, raising $12 million and becoming the first company in Qatar to achieve this feat, as reported by Gulf Times.

The funding was led by Qatar Development Bank, Snoonu's strategic partner, and involved several other investors. CEO and founder Hamad al-Hajri said, "We are pleased to close Series B round with such an incredible value, which is a result of our team's dedication and hard work to provide the best online experience to our customers. We are also very grateful to our investors and honoured by their trust in us to close this funding round." He continued, "This funding will allow us to accelerate our growth and the development of our product's in-house technology, expanding our services and strengthening our marketing efforts, which will get us one step closer to building the ideal super-app where all services are available at once."

"As our commitment to Snoonu's contribution to the development of the tech ecosystem in Qatar, we are always trying to introduce the best innovative tech solutions to the market to make customers' daily life easier and hustle-free. Over the past few years, we all witnessed growth in the tech sector, backed by a supportive government and other entities, growing infrastructure, and entrepreneurial opportunities. Snoonu is one of the companies in the country that aims to transform Qatar into a tech hub with a world-class distinction for innovation and entrepreneurship," he added.

Snoonu, a Qatari-based fast-growing E-Commerce and Q-Commerce startup, has achieved a major milestone by completing its Series B funding round, becoming the first Qatari startup to do so. The company had closed its Series A round in 2021 at $5 million and acquired Oman-based Akeed in 2022. Snoonu aims to become the first unicorn in the country by providing the fastest and most diverse delivery services in Qatar.

"Snoonu is also committed to reducing its carbon footprint by following several practices, including its recent tests with Kia and in collaboration with Al Attiya Group to shift to electric delivery cars. As Snoonu moves forward, the Qatari tech company is excited about the opportunities and challenges ahead and remains committed to its mission of making people's lives easier and more convenient," as stated in a release.

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