Investments

Exclusive: Saudi’s Dailymealz raises $2 million to grow its food subscription app

Dailymealz, a Riyadh-based food subscription app aimed at corporate employees has raised $2 million in Pre-Series A round led by Seedra Ventures, it told MENAbytes today. The round was also joined by some angel investors.

Founded in late 2017 by Mohamed Elzalabany, Abdulrahman Ahmed, Abdallah Said, and Motaz AbuOnq, Dailymealz enables individuals to order food using weekly and monthly subscriptions (through its app for iOS and Android) – starting from SAR 138 (about $37) per week. The users can choose different types of subscriptions including healthy, diet, Keto, and fast food, and create their customized plans, in a few taps, to receive the food in their office (or at their home) without having to place an order every time they need it.

Most of Dailymealz’s plans are for lunch only that’s delivered on working days as it’s focused on corporates but they also feature options like full day Keto and diet that includes breakfast, lunch, and dinner, and cover the weekends as well. The service is currently available in different cities of Saudi and Kuwait and serves thousands of customers. DailyMelaz has delivered over a million meals to date.

The Saudi startup partners with different restaurants and cloud kitchens to offer their food as part of its meal plans. The food is delivered by its own network of freelance drivers. Dailymealz has built in-house tech to ensure maximum utilization of drivers who deliver multiple orders in every trip. The grouped deliveries result in much better economics for Dailymealz when compared with traditional food delivery players who offer on-demand delivery.

With the fresh funds, the Saudi startup is now eying expansion into different regional markets, starting with the United Arab Emirates and Egypt.

Dailymealz has recently launched a new product for corporates that enables employers (through their HR departments) to offer meals to their employees as a perk or at subsidized rates, and place group orders (for meetings and events), its co-founder and CEO Mohamed Elzalabany told MENAbytes. How it works is that the employers partner with Dailymealz and then anyone from their company can subscribe to the meal plans offered by the startup and the payments are handled by the employer. The employer then deducts whatever part an employee is supposed to pay from their salary at the end of the month.

A large part of the funds will be used to support Dailymealz’s growth efforts including further expansion into offerings for corporates.

Zubair Naeem Paracha
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