YallaMarket raises $2.2m in a bridge round

YallaMarket raises $2.2m in a bridge round

Dubai-based 15-min grocery delivery service, YallaMarket raises $2.2m in its bridge round. The round included participation from Doha Tech Angels, Flyer One Ventures, and AngelsDeck. The bridge round came after the closing of the first $2.3m pre-seed round by Wamda and Dubai Angel Investors in November 2021. With this new funding, YallaMarket’s total investments accounts to $5m in less than three months.

YallaMarket delivers groceries and other goods of daily demand to customers’ doorstep without charge in 15 minutes. The service operates through dark stores and the client receives their order from their nearest dark store due to a hyperlocal delivery area concept and high picking speed. A special layout of goods combined with the dark store’s inaccessibility for the customers allows the pickers to collect the order in just 3 minutes after the purchase.

“The developments of the last two months proved that entering the UAE market was the right thing to do. Daily orders growth validates that MENA consumers need instant grocery delivery to save their time. The interest from the established international companies also confirms that the region’s q-commerce market will be driven by the grocery segment”, Leo Dovbenko, YallaMarket СEO and Co-Founder, said.

The funding will be used to expand the presence of the company in the UAE by opening new dark stores in Dubai prior to the next financing round, which is scheduled for March 2022.  By the end of the year, YallaMarket plans to launch 100 new stores across the UAE and to enter Qatar. 

“The UAE is actively implementing technology in all areas of life, so this is a promising market for projects that AngelsDeck is focused on. Already now we can say that MENA has the potential to become one of the leaders of the grocery delivery in the 10-15 minutes segment. Therefore, we are very pleased to become a partner of YallaMarket, which is the first hyper-local delivery service in the UAE, and we believe that the project has a great future,” Igor Kaloshin, CEO of AngelsDeck, said.

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