Looks like Dubai-based office lunch delivery platform Lunch:on is quite on the roll, having bagged an additional $2.5 million in its now-completed Series A round. With that, the net investment raked up by the company in this round has shot up to $5.5 million.
The Series A was led by Dubai-based Wamda Capital & Global Ventures with significant contributions coming from 10 other investors including Mindshift Capital, Shorooq Investments, B&Y Ventures, Dubai Angel Investors, Arzan VC, Abu Nayyan Holding, Derayah Capital, Vision Ventures, EATventure, and AlJammaz Group.
Obviously, it’s not every day when you get to see as many as 10 prominent institutional investors participating in the Series A round of a startup in the region. The fact that Lunch:on has already built a good rapport with the investors-community can be comprehended from the fact that its Series A saw participation by 12 investors in total, including those from Saudi, UAE, Kuwait, and Lebanon.
Customers with Lunch:on’s pro subscription package get their daily lunch for a fixed price of AED 25. To ensure a variety of choice, Lunch:on offers each office a curated menu from three different restaurants every day.
Speaking of the company’s business model, Mohammad Al Zaben, stated: “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.”
The startup plans on spending the capital from the Serie A round to expand its presence in the UAE, launch operations in Saudi, and further polish its technology.