Cloud Kitchen Platform iKcon Raises $20 Million in Series A
Summary
From procuring, cooking, to delivering food on behalf of restaurants and brand owners, iKcon operates 15 cloud kitchens across the UAE. “We are thrilled to be backed by leading regional investors and Venture Capital firms that share our vision and actively support our growth. The newly raised funds will be used to accelerate KSA and regional expansion plan, and the development of iKcon’s proprietary technology stack.” The food delivery industry is growing at an exponential rate and estimated to reach $360 billion by 2030. “This is a vote of confidence for our team’s relentless efforts to improve our capabilities through ongoing attention to maintaining brand standards, consistency, and speed,” Kareem Abughazaleh, co-founder and COO. “We are constantly reinvesting in our operational excellence & training programs, and we expect to accelerate this as we continue to scale our reach”.