– Watermelon Ecosystem, a UAE-based F&B startup, successfully closed its $4 million Series A funding round, giving new investors a 13.8% capital shareholding and valuing the company at $29 million.

– The funding round was led by prominent investors with support from Daman Investments, which served as the exclusive Fundraising Advisor, specializing in equity and debt financing for entrepreneurs and companies.

– The $4 million investment will be used to accelerate Watermelon’s local and regional growth, enhance technological offerings, and expand market presence, solidifying its leadership in the F&B industry.

Watermelon Ecosystem, a UAE-based food industry startup, has announced the closure of its $4 million Series A funding round.

This latest investment places new investors at a 13.8% capital shareholding, giving the company a post-money valuation of $29 million. The UAE-based food industry startup secured this round following a successful seed round in 2022.

The funding round was led by key investors and supported by Daman Investments, a regional investment firm that served as the exclusive Fundraising Advisor.

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

“We are thrilled to have the support of our esteemed investors and advisers as we embark on the next phase of our growth journey,” said  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’s focus on local growth and development ensures that its success translates into tangible benefits for its partners and stakeholders.

Daman Investments expressed pride in its role as advisors and facilitators in Watermelon’s journey of growth and looks forward to more strategic synergies across the UAE’s startup and business landscape.

With a robust infrastructure, forward-thinking policies, and substantial investments in technology, the UAE has created an environment conducive to growth and innovation.