Dubai-based delivery app Fetchr – which tracks customers’ smartphones to determine their geolocation for package delivery – has announced the closing of a $41 million Series B funding round led by New Enterprise Associates.
Majid Al Futtaim was a key regional investor in the round; other investors including Nokia Growth Partners, Raed Ventures, Iliad Partners, BECO Capital, YBA Kanoo, Venture Souq and Swicorp.
“Our success is another proof that start-ups are disrupting the region and its traditional business models. I am very happy we managed to gather some of the best funds from the Silicon Valley, and regionally too with the support of Majid Al Futtaim,” says Fetchr founder & CEO Idriss Al Rifai. “We want to change the way logistics is being operated and make your phone your home and put the customer on the driver’s seat of his own experience.”
“We hope that this round of funding will shine a light on this region of the world and pave the way for other investors to look at the incredible talent and ideas brewing here. The start-up revolution here is in its early stages and we feel immense responsibility to pave this road for others and look forward to the challenge,” adds co-founder Joy Ajlouny.
Fetchr currently operates in the UAE, Saudi Arabia, Egypt and Bahrain and plans to use the funds to further expand its footprint in the Middle East & North Africa and other markets.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha B / 
Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in
“Retail is a people’s business. When building a retail brand or the
From being one of the first retailers in Dubai to ban single-use
For starters, Rabbit is a growing e-commerce grocery platform in Egypt always
In 2024 grocery retail major Choithrams has achieved several milestones underscoring its
Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital
The regional grocery retail market is evolving fast keeping pace with constantly
From ethical and local sourcing to adopting cutting-edge technologies to curb food
The regional grocery retail market is becoming more and more diverse, offering
Spinneys, the leading premium fresh food retailer, has announced the opening of
Spinneys has announced the launch of The Kitchen by Spinneys, its first-ever
/ 
In what comes as a significant announcement, Middle East based eyewear majors
Emirati Gen Z women are seeking collaborative, culturally diverse and creatively enriching
GMG’s Everyday Goods – Retail division celebrates expansion milestone hitting 60 stores
Among several others, three key factors have fuelled the growth of homegrown
Empowering women, transforming communities: The rise of female-led businesses in Times Square Center
In its central Dubai location, Times Square Center stands not just as
One of UAE’s leading fresh food retailers, Spinneys has announced its intention
Acting as a bridge between Brazil and GCC markets offering a compelling
Commonly cited statistics indicate that around 20% of new businesses fail during
Louis Philippe, renowned for its premium merchandise spanning apparel, footwear and accessories,
Previous Article
