Saudi Arabia-based food delivery startup Jahez, has closed a $36 million Series A funding round led by Impact46.
This round marks the largest venture capital (VC) deal of its kind in Saudi Arabia so far this year.
Founded in 2016, Jahez offers a full logistics solution with its own proprietary delivery capabilities, including last-mile delivery services and plans to use the funds to expand into cloud-kitchens, grocery delivery, and non-food e-commerce services.
“Our starting point when creating Jahez was to give restaurants the tools they need to remain competitive in a digital world. In the current climate in particular, we help restaurants, supermarkets, pharmacies, and other retailers gain access to a new digital channel and generate revenue by selling through Jahez,” said Ghassab Al-Mandil, co-founder and CEO at Jahez. “With this funding round, we will further invest in building differentiated offerings, plugging the white spaces in the ecosystem, expanding in new verticals and developing our in-house technology, while keeping excellent customer experience at the core.”
To date, the company claims to have served 3 million users through its partners fleet of 15,000 freelance couriers, processed more than 20 million orders. It further claims that it is on its way to exceed a billion riyals worth of orders in 2020.
“Jahez’s management team has an entrepreneurial spirit that makes miracles happen, they grew from a small departmental team to where they are today in less than 3 years,” said Abdulaziz Al Omran, partner at Impact46. “Seeing how the team has stepped up during the lockdown to help many restaurants and grocery stores offer delivery services in a matter of hours has only reinforced our conviction that this start-up is something special.”