Raha, Kuwait’s fast-growing logistics tech company, has successfully completed its pre-Series A funding round.
This latest investment is led by Soor Capital and PIF-backed Private Equity Fund, eWTP Arabia Capital and it brings up the total raised by the ambitious tech startup to $14 million.
Raha’s initial round of seed funding had raised an impressive capital of $6.7 million, led by KSA’s Aujan Enterprises and Kuwait’s Nox Management, as well as London-headquartered VC, Cedar Mundi Ventures.
Since launching in 2022, Raha has quickly grown to become a multi-sector technology and automation provider offering a wide range of specialized solutions. The company’s first successful project in the Kuwaiti market was ShopRaha, the fully automated e-grocery platform that was the region’s first pure-play service.
Setting a new benchmark in the grocery retail sector, ShopRaha features Kuwait’s first fully automated robotics-fulfillment center, as well as the first chilled automated warehouse globally.
Mr. Saleh Al-Tunaib, Co-Founder and CEO of Raha, said that, “Raha was envisioned as a company that uses technology and robotics to disrupt traditional models and redefine eCommerce. We’ve integrated advanced technology with our logistics expertise to elevate the eCommerce experience, from first to last mile.”
“Today, our model is demonstrating its scalability and longevity, as we continue to expand our focus beyond our own eCommerce retail ventures to cement our role within the scope of the wider industry. This is proving especially effective in our recent expansions into both Saudi Arabia and the UAE,” commented Mr. Al-Tunaib.
On his part, Mr. Jerry Li, Founder, and Managing Partner of eWTP Arabia Capital, stated that, “One of our core goals has always been to accelerate the growth of digital eco-systems in MENA. Raha’s solution can perfectly help aspiring companies make a soft landing, navigating the challenges that face them in their growth and expansion journeys. Based on the management’s rich local experience, we are very optimistic that more Chinese companies will contribute to the development of the MENA markets through solution partners like Raha.”
