Watermelon Ecosystem, a rapidly expanding startup transforming the F&B industry, has announced the successful completion of its $4 million Series A funding round. This move has granted new investors a 13.8 percent stake, reflecting a post-money valuation of $29 million for the company. The UAE-based food startup secured this round after a successful seed round in 2022. The funding was spearheaded by prominent investors, with Daman Investments, a top regional investment firm, acting as the exclusive fundraising advisor. Daman Investments, through its Investment Management & Advisory (IMA) division, specializes in assisting entrepreneurs and companies in raising funds at various stages, including equity and debt financing.
Watermelon intends to use the $4 million investment to boost its local and regional expansion, enhance its technological capabilities, and increase its market presence. Committed to improving efficiency, transparency, and sustainability in the F&B industry, this funding will help the company strengthen its leadership position. "We are excited to have the backing of our esteemed investors and advisors as we enter the next stage of our growth," commented Omar AlShamsi, CEO of Watermelon Ecosystem. "This investment will enable us to expand our operations, upgrade our product offerings, and continue providing outstanding value to our clients in the F&B sector."
Watermelon has significantly impacted the F&B industry by offering advanced technological solutions and financial tools that enhance operational excellence and build strong supply chain connections. The company's emphasis on local growth and development ensures that its success benefits its partners and stakeholders. Daman Investments highlighted that its main goal is to positively contribute to the growth of the emerging Arab World Economy. The institution is proud to advise and facilitate Watermelon's growth journey and anticipates more strategic partnerships across the UAE's startup and business landscape.
The UAE has established itself as a global leader in technology and innovation, serving as a hub for groundbreaking advancements and pioneering solutions. With a strong infrastructure, progressive policies, and significant technology investments, the nation has created a conducive environment for growth and innovation. Focused on innovation and expansion, Watermelon is set to be part of this vibrant landscape, leveraging the UAE's supportive environment to disrupt the food tech industry.
