Rocket Internet’s food delivery startup Delivery Hero that is based in Berlin and operates in 53 countries around the world has acquired Kuwaiti food delivery startup Carriage. The startup was founded last year by Abdallah Al Mutawa, Musab Al Mutawa . Khaled Al Qabandi & Jonathan Lau with a seed funding of $1.3 million from the founding team.
What makes Carriage different from the other food delivery startups of the region including Talabat which was also acquired by Rocket Internet for $169.5 million is the fact that they don’t take orders on your behalf but deliver them as well. They have their own fleet which takes care of the delivery services. The startup currently has its services available in Kuwait, UAE & Bahrian. They had launched their mobile applications in May last year so it took them almost an year to get acquired from the day their mobile applications went live. We’re not aware of the terms of acquisition but getting acquired by Rocket Internet within one year of launching your startup is definitely a big feat.
“Becoming part of Delivery Hero will strengthen our business and extend our reach considerably,” said Abdullah Jihad Almutawa, CEO of Carriage.
Delivery Hero which is currently value at over $3 billion is expected to go public in near future. They have raised about $1.81 billion until date with their last round bringing in €387 million from Naspers.
Niklas Östberg, CEO of Delivery Hero said that the acquisition will bolster Delivery Hero’s place in the Middle East market, where there is “significance growth potential.”
Latest posts by Zubair Naeem Paracha (see all)
- Dubai’s Floranow raises $3 million Series A for its B2B floral marketplace - December 15, 2019
- Saudi-based Sabbar raises $1.5 million seed to connect gig workers with temporary work opportunities - December 15, 2019
- Dubai’s VentureSouq invests in $45 million Series B of Vouch, a US-based insurance platform targeting startups - December 13, 2019