Raha, a rapidly growing logistics tech company based in Kuwait, recently announced the successful completion of its pre-Series A funding round. This latest investment, led by Soor Capital and PIF-backed private equity fund eWTP Arabia Capital, brings Raha’s total funding to $14 million. The initial seed funding round raised an impressive $6.7 million, with the participation of KSA’s Aujan Enterprises, Kuwait’s Nox Management, and London-headquartered VC Cedar Mundi Ventures.
Since its launch in 2022, Raha has quickly established itself as a leading provider of multi-sector technology and automation solutions. The company’s first major success in the Kuwaiti market was ShopRaha, the region’s first fully automated e-grocery platform. ShopRaha introduced Kuwait’s first fully automated robotic fulfillment center and the first chilled automated warehouse globally, setting a new benchmark in the grocery retail sector.
Building on this successful proof of concept, Raha has utilized its recent funding to expand its industry presence, particularly in the KSA and UAE markets. The company operates through two primary verticals: btr.tech and Smooth Logistics.
btr.tech is an intelligence-driven logistics consultant that specializes in systems integration, robotics, and automation solutions powered by intelligent software. It has made significant progress in the KSA and UAE markets. On the other hand, Smooth Logistics, launched in 2023, is a third-party logistics (3PL) service provider. It helps companies seamlessly and sustainably transition to digital platforms and currently serves clients in the region.
Saleh Al-Tunaib, co-founder and CEO of Raha, explained the company’s mission and strategy, stating, “Raha was envisioned as a company that disrupts traditional models and redefines e-commerce using technology and robotics. By integrating advanced technology with our logistics expertise, we aim to enhance the e-commerce experience from first to last mile. Our model has proven its scalability and longevity as we expand our focus beyond our own e-commerce retail ventures to establish a prominent position within the wider industry. This approach has been particularly effective in our recent expansions into Saudi Arabia and the UAE.”
Al-Tunaib emphasized the importance of investing in digital infrastructure for e-commerce success, stating, “In this day and age, investing in digital infrastructure is crucial for operational excellence. As we continue to expand, our focus remains on ensuring a smooth and efficient transition of both the customer experience and operational capabilities to the online domain.”
Jerry Li, Founder and Managing Partner of eWTP Arabia Capital, highlighted their goal of accelerating the growth of digital ecosystems in the MENA region. He stated, “Raha’s solution can help aspiring companies make a soft landing and navigate the challenges they face in their growth and expansion journeys. Based on the management’s rich local experience, we are optimistic that more Chinese companies will contribute to the development of the MENA markets through solution partners like Raha.”
Raha’s successful pre-Series A funding round demonstrates the confidence investors have in the company’s innovative approach and its potential to revolutionize the logistics and e-commerce industry. With its expanded funding, Raha is well-positioned to further expand its presence in the KSA and UAE markets, offering cutting-edge technology and automation solutions to businesses in the region.
Source: TimesKuwait
