- MealPlanet raises $6 million in seed funding led by prominent regional venture capital firms and entrepreneurs.
- The startup plans to use the funds for regional expansion, starting with Saudi Arabia in Q1 2025, and to enhance its technology platform.
- MealPlanet’s innovative app aggregates meal plans from over 100 brands, offering consumers a convenient and flexible solution for healthy eating.
UAE-based startup MealPlanet has successfully raised $6 million in a seed funding round. This substantial investment marks a pivotal moment for the young company, which aims to revolutionize the meal plan delivery landscape across the region.
Founded in 2024 by seasoned entrepreneur Khalid Baareh, MealPlanet has quickly established itself as a pioneer in the foodtech industry. The company’s innovative platform serves as a bridge between consumers and a diverse array of meal plan providers, offering a seamless, tech-driven solution to the growing demand for convenient and healthy eating options.
The funding round was spearheaded by several prominent regional venture capital firms, including Middle East Venture Partners (MEVP), AlTouq Group, Sanabil 500, Faith Capital, and Alturki Ventures. Adding further credibility to the venture, renowned entrepreneurs Marc Lore and Samih Toukan also participated in the round, bringing their wealth of experience and industry insights to the table.
MealPlanet’s unique selling proposition lies in its ability to aggregate various meal plans from over 100 trusted brands, including popular names such as Prep & Co, Basiligo, PrepHero, and The Lean Co., among others. This comprehensive offering allows consumers to discover, subscribe to, and manage their meal plans effortlessly through a user-friendly mobile application.
Commenting on the successful funding round, Khalid Baareh, Founder and CEO of MealPlanet, expressed his enthusiasm: “This investment not only validates our vision but also provides us with the resources to accelerate our growth and enhance our technology stack. We’re committed to digitizing the meal plan delivery experience in the Middle East, offering unparalleled convenience, variety, and flexibility to our customers.”
The newly acquired funds will be strategically allocated to fuel MealPlanet’s ambitious expansion plans. The company has set its sights on entering the Saudi Arabian market in the first quarter of 2025, marking the beginning of its regional growth strategy. Additionally, a significant portion of the investment will be directed towards further developing MealPlanet’s proprietary technology, with a focus on leveraging artificial intelligence to personalize and enhance the consumer experience.
Walid Mansour, co-founder and co-CEO of MEVP, shared his perspective on the investment: “The meal planning market presents a huge opportunity, driven by the increasing demand for healthy and convenient eating options. MealPlanet’s innovative approach and dedicated team position them well to lead this trend. By aggregating various meal plans and delivering top-notch service, MealPlanet is poised to become a frontrunner in promoting healthy lifestyles through smart technology and excellent offerings.”
As MealPlanet prepares to expand its footprint across the Middle East, the company remains focused on its mission to transform the way people approach meal planning and healthy eating. With its robust technology platform, diverse brand partnerships, and now substantial financial backing, MealPlanet is well-equipped to make a lasting impact on the region’s foodtech landscape.
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Last Updated on August 15, 2024 by Safiya K
