Barakah raises $300,000 pre-Seed round
- Saudi Arabia-based food delivery startup Barakah has secured $300,000 in a pre-Seed round from Alriyadah Investments.
- Founded in 2021 by Rabah Habiss and Munira AlMuammar, Barakah aims to achieve sustainability and tackle food waste by allowing restaurants to list their unsold meals on Barakah’s surplus marketplace where consumers can find nearby discounted meals.
The KSA-based food delivery startup Barakah has secured $300,000 in a pre-Seed round from Alriyadah Investments. Alriyadah Investments is a family-owned closed real estate and energy development fund headquartered in Jeddah, Saudi Arabia. Barakah aims to harness digital innovation and social awareness to tackle food waste in restaurants, bakeries, hotels and groceries by offering a green discount on their surplus goods through an innovative mobile app in real time. It aims to help businesses drive profit and empowers them and their consumers to join the global movement against food waste.
The company shared that their motivation for starting Barakah was centred around sustainability and tackling the global and systemic issue of food waste in their own backyard. 40% of all food is wasted, in monetary terms, this amounts to $1.2 trillion globally and SAR 40 billion in Saudi, representing 10% of the world's greenhouse gas emissions. The Islamic teachings were another major influence on the initiative, as they instilled the importance of preserving food. The word "Barakah" means blessing in Arabic.
Barakah wants to utilise technology to address a significant socio-economic issue where there is a clear gap in the market. That gap is creating the first discounted surplus marketplace in Saudi Arabia. The startup targets both businesses and consumers - for businesses they work with restaurants, bakeries, cafes, hotels, buffets, and grocery stores to put their surplus on the map. Generating an untapped source of revenue for our vendors. For consumers, the app appeals to value discerning and eco-conscious customers.
The app introduces a real-time surplus management platform for businesses in the food service industry. Restaurants list their unsold meals on Barakah’s surplus marketplace where consumers can easily explore the map and find nearby discounted meals from their favourite shops, saving these items from going to waste.