June investment round-up: apps and services dominate

June investment round-up: apps and services dominate

With a growing emphasis on the need for digitization, technology ventures are at the forefront of the systemic change that is occurring across the economy according to a recent report released by INSEAD and MAGNiTT. Here are a few of the recent investment announcements this month that caught our eye.

Jahez

Riyadh-based food delivery platform Jahez has raised $36.5 million (SAR 137 million) in a Series A round led by Saudi VC, Impact46. Jahez is now also planning to expand into cloud-kitchens, groceries and non-food ecommerce services. It will use the fresh funds to further develop its tech, launch new products & services, and solidify its position in Saudi Arabia.

Jahez's food delivery platform offers complete delivery solutions (with the help of freelance couriers) to its restaurant partners in over 20 cities of the Kingdom. Its platform automates the inbound order flow through a single point and provides last-mile delivery service too, to deliver food to customers. It recently expanded its offering to grocery stores and non-food retailers, delivering to their customers as a large number of people stay indoors due to Covid-19 and are make these purchases online.

Wahed

Wahed, a digital Islamic investment platform, has closed a US$25 million investment round led by