Will Watermelon’s US$4M Boost Revolutionise the F&B Industry?
Watermelon Ecosystem, a fast-growing startup in the F&B industry, has just closed a US$4 million Series A funding round, giving the new investors a 13.8 percent share and valuing the company at US$29 million. This comes after a successful seed round in 2022.
The funding round was led by prominent investors, with Daman Investments acting as the exclusive Fundraising Advisor. Daman Investments specialises in helping companies raise funds across different stages, including equity and debt financing.
Watermelon plans to use the US$4 million investment to grow locally and regionally, improve its technology, and expand its market presence. The company aims to boost efficiency, transparency, and sustainability in the F&B industry, solidifying its leadership position.
Omar AlShamsi, CEO of Watermelon Ecosystem, expressed excitement about the support from investors and advisors, emphasising that the investment will help the company scale operations, enhance its products, and deliver value to clients in the F&B sector.
Watermelon has been transforming the F&B industry with advanced technological solutions and financial tools, driving operational excellence and strong supply chain connections. The company’s focus on local growth ensures benefits for its partners and stakeholders.
Daman Investments highlighted its commitment to contributing to the growth of the new Arab World Economy and looks forward to more strategic collaborations in the UAE’s startup scene.
The UAE is known for its leadership in technology and innovation, with a supportive environment for growth. Watermelon is poised to leverage this environment to disrupt the food tech industry and continue its dynamic growth.
