By Nikhil Pereira
Ikcon has plans to grow its network to 30 cloud kitchens in the near future
Dubai-based cloud kitchen operato Ikcon has successfully raised $10 million of funding, including a recently closed pre-series A round of $5 million led by Arzan VC, AlTouq Group and Nazer Group among other reputable investors.
Ikcon was founded in Dubai in early 2019, by Khalid Baareh and Kareem Abughazaleh, to address the growing demand for food delivery across the Middle East.
Currently Ikcon operates ten cloud kitchens across the UAE with plans to start operations in Saudi Arabia in Q4 2020 and other countries in the region throughout 2021.
Ikcon has plans to grow its network to thirty cloud kitchens in the near future.
Khalid Baareh, co-founder and CEO, said plans are in place to launch Ikcon’s Series A round in Q4 2020.
“We are laser focused on developing proprietary technology to accelerate the evolution of data analytics, process automation and AI as a key differentiator in our fast-growing space. The next few years are going to be exciting and transformational years for the food delivery market.” Baareh added.
Speaking more about its business model Kareem Abughazaleh, co-founder and COO, of Ikcon said the company “acts as a franchisee on the behalf of its partner restaurants and brand owners”.
Ikcon operates modern kitchen spaces that are kitted with the latest equipment utilising smart tech solutions. The firm also has its own trained chefs and customer service teams.