Alsaree3 - Iraqi foodtech startup raises six-figure seed funding
Summary
Alsaree3, a Baghdad, Iraq-based food delivery app and its sister company Al Zajel, have recently closed a 6-figure seed funding round led Iraq Tech Ventures and Shwan Ibrahim Taha, Chairman of Rabee Securities. Founded in 2018 by Bassam Al-Ateia, Alsaree3 provides high-quality customer service, fast deliveries, and an extensive selection of restaurants (450+) in Baghdad. What’s more, the special M2M sim cards in these POS devices reduce the internet cost for the restaurants enormously.” Within the past year, Al-Ateia noticed an opportunity to use his drivers for C2C, B2B, and last-mile deliveries and founded Al Zajel to meet this need in the market. Iraq Tech Ventures and its syndicate of investors were most inspired by Alsaree3’s strong set-up and the team’s ability to provide a consistent, high-quality service despite the countless challenges in Baghdad, and most recently from the restrictions due to COVID-19. Restrictions forced many Iraqis to become new adopters of delivery services like Alsaree3, a trend investors believe will continue as the digital literacy of Iraq’s population increases.