• UAE-based F&B e-commerce platform Watermelon Ecosystem has closed a $4 million Series A funding round, led by undisclosed investors, who have acquired a 13.8% capital shareholding, giving the company a post-money valuation of $29 million.
• Founded in 2020 by Omar AlShamsi, Watermelon Ecosystem is a B2B marketplace that connects buyers with sellers across the F&B supply chain.
• Watermelon plans to use the $4 million investment to accelerate its local and regional growth, enhance its technological offerings, and expand its market presence.

Source: EntArabi

Watermelon Ecosystem, a rapidly expanding startup revolutionising the food and beverage (F&B) industry, has successfully closed its $4 million Series A funding round. This achievement places new investors at a 13.8% capital shareholding, giving the company a post-money valuation of $29 million.

The funding round was led by prominent investors, with Daman Investments acting as the exclusive Fundraising Advisor. Daman Investments, through its Investment Management & Advisory (IMA) division, specialises in advising and supporting entrepreneurs and companies in raising funds across various stages, including private equity, venture capital, growth capital, and debt such as private credit and structured finance.

Watermelon plans to use the $4 million investment to accelerate its local and regional growth, enhance its technological offerings, and expand its market presence. The company is committed to boosting efficiency, transparency, and sustainability in the F&B industry, and this funding will enable it to solidify its position as an industry leader.

“We are thrilled to have the support of our esteemed investors and advisors as we embark on the next phase of our growth journey,” said Mr. Omar AlShamsi, CEO of Watermelon Ecosystem. “This investment will allow us to scale our operations, enhance our product suite, and continue delivering exceptional value to our clients in the F&B sector.”

Watermelon has been instrumental in transforming the F&B industry by providing cutting-edge technological solutions and financial tools that drive operational excellence and foster robust connections across the supply chain. The company’s focus on local growth and development ensures that its success translates into tangible benefits for its partners and stakeholders.

Daman Investments stated that its primary objective has always been to positively contribute to the growth of the burgeoning new Arab World Economy. The institution takes pride in its role as an advisor and facilitator in Watermelon’s journey of growth and looks forward to many more strategic synergies across the UAE’s startup and business landscape.

The UAE has long been recognized as a global leader in technology and innovation, establishing itself as a hub for cutting-edge advancements and pioneering solutions. With a robust infrastructure, forward-thinking policies, and substantial investments in technology, the nation has fostered an environment conducive to growth and innovation. With a strategic focus on innovation and growth, Watermelon is poised to be part of this dynamic landscape, leveraging the UAE’s supportive environment to disrupt the food tech industry.