“We Got Funded!” UAE-Headquartered Kaso Raises US$10.5 Million In A Seed Round Following The Launch Of Its New F&B Fintech Vertical

“We Got Funded!” UAE-Headquartered Kaso Raises US$10.5 Million In A Seed Round Following The Launch Of Its New F&B Fintech Vertical

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UAE-headquartered restaurant supply management platform Kaso has raised US$10.5 million in a seed round led by the following venture capital (VC) firms: BY VP, a MENA-focused VC company that focuses on tech startups; Hala Ventures, a KSA-based early-growth VC fund; Seedra Ventures, a KSA-based early-stage VC firm; Pioneer Fund, a US-based fund that comprises over 340 alumni of US-based technology startup accelerator Y Combinator; Spade Ventures, a MENA and Pakistan-focused angel syndicate that invests in early stage tech startups; Vulpes Ventures, a Singapore-based investment management firm; and Cyfr, a VC firm focused on tech startups in the MENA as well as the US.

The round also saw the participation of regional family offices, other strategic investors from KSA, as well as contributions from VC firms that have previously invested in Kaso, such as Germany-based venture capital firm Global Founders Capital and China-based investment firm MSA Capital.

Launched in 2021 by Manar Alkassar and Ahmed Soliman, Kaso is a business-to-business (B2B) platform that digitizes and automates procurement between restaurants and food suppliers in the Middle East. With new capital under their