Having established itself as one of the fastest growing food-tech startups in the region, UAE-based Lunch:On is currently busy wooing investors. The company’s efforts on that front seem to be making quite an impact considering that it has just closed $3 million in equity financing.
With this new development, Lunch:On has now officially wrapped up its Series A round with the hope that the funds raised in the round will help it expand further across the UAE, and eventually into Saudi Arabia.
The latest Series A round was led by Wamda Capital, with contributions coming from a number of other venture capital firms including Arzan VC, EATventure, Dubai Angel Investors, Abunayyan Holding, and Aljammaz Group, among others.
Lauding Launch:On’s innovation-driven efforts to disrupt UAE’s thriving food-tech scene, Khaled Talhouni, Managing Partner at Wamda Capital, said: “We are very pleased with LUNCH:ON’s continued success and we believe that this latest round will allow the company to expand its geographic footprint as well as venture into new offerings that will help redefine the food space.”
Founded in 2016 by Dana Baki and Mohammed Al Zaben, Launch:On is like a virtual canteen for enterprises. The company has tie-ups with a large number of local restaurants that prepare on-demand curated meals for corporates and their employees. Launch:On then delivers these curated meals to customers at a discounted price.
Lunch:On’s pro-subscription package enables customers to get their daily lunch for a fixed price of 25 AED (just under $7). Customers are provided with three curated menus from three different restaurants every day. These curated menus draw inspirations from individual customers’ preferences and order patterns.
“By consolidating orders by office buildings, and delivering to the same place at the same time, we are able to eliminate delivery fees and negotiate better pricing with restaurant partners. These savings are passed on to our customers, offering them a greater selection of meals at just 25 AED,” said Dana Baki while elaborating Lunch:On’s so-far successful business model.