Delivery ServicesGulf Countries

Raha achieves exceptional success raising $14 million to support its expansion and new innovations

Raha, the Kuwaiti technology-driven logistics startup, announced the completion of its pre-Series A funding round led by Soro Capital Holdings and eWTP Arabia Capital, backed by the Saudi Public Investment Fund, raising a total funding of up to $14 million USD. The company’s initial funding round of $6.7 million USD was led by Saudi’s Al-Ogian Group, Kuwait’s NOX Management, and London-based Cedar Mundi Ventures.

Since its inception in 2022, Raha has rapidly grown into a multi-sector company offering a wide range of solutions in automation and digital systems. Their ShopRaha application marked the company’s successful entry into the Kuwaiti market as the first retail app for automated digital groceries and consumer goods in the region. ShopRaha set new standards in the digital shopping and electronic grocery sector with a fully automated robotics center and a fully automated refrigeration processing center, a first of its kind globally.

Following the successful completion of the recent funding round, Raha plans to utilize the funds for expansion, particularly in Saudi Arabia and the UAE.

The company represents an innovative approach by launching two new entities: BTR.Tech, specializing in logistics consultancy, artificial intelligence, robotics, and automation solutions, and Smooth Logistics, offering 3PL logistics services to external entities, facilitating seamless and sustainable transitions to digital platforms for companies.

Saleh Al-Tanib, Co-founder and CEO of Raha, emphasized the company’s reliance on technology and robotics in its business model to redefine the rules in the digital shopping landscape. He highlighted that their recent expansions reflect a lasting impact on the industry.

Jerry Lee, Founder and Managing Partner at eWTP Arabia Capital, emphasized the importance of accelerating digital growth in the Middle East and North Africa, welcoming the role of Chinese companies in developing the region through firms like Raha.

Raha stands as an exceptional Kuwaiti success story, growing from a 4-person team to over 166 employees engaged in three core activities: ShopRaha, Btr.Tech, and Smooth Logistics.

ShopRaha has seen significant growth in the retail market for groceries and consumer goods in Kuwait, tripling its revenues since its launch and being selected as one of Forbes’ Top Entrepreneurs in 2023. ShopRaha provides a distinctive experience through its integrated logistics cycle managed professionally from the purchase stage to order delivery.

Related Articles

Back to top button