Citron raises seven-figure pre-Series A round
Source: Gulf News
A Dubai-based startup specialising in lunchboxes has packed a ‘seven-figure’ dollar investment from its pre-Series A funding round. Citron, founded by Sara Chemmaa in 2017, tapped Arzan Venture Capital for the funds.
“As a ‘non-tech’ company, the investment is even more meaningful as this sector is currently out of favour by investors,” said Chemmaa. “As a female-owned and run business, we are thrilled to be paving the way and thankful to Arzan VC for backing strong female founders who are underrepresented and overlooked despite demonstrating superior returns.”
Since introducing leak-proof lunchboxes, she has expanded the product category to a bamboo range, another with a sustainability element, and one even for teens. It also secured a distributor tie up recently.
The funds raised will be used for further product ‘innovation’. Laith Zraikat, Partner at Arzan Venture Capital, said: “Citron is catering to a huge market and the founder’s plan to diversify her product lines and sell directly to consumers made us realize Citron’s potential to grow and become a global company.”