The online marketplace focussed on addressing commercial food waste, Barakah has raised strategic funding led by FoodLabs. This is FoodLabs first foray into the MENA region. It is a successful early-stage European VC fund focussed on food and agriculture startups.
Founded on 2022 by Rabah Habiss and Abdulaziz Al-Saud, Barakah is an online marketplace that aims to reduce food waste by connecting food retailers and consumers for the sale of surplus products and discounted meals. Barakah helps businesses minimise waste and generate new revenue opportunities but also provides consumers with access to affordable and sustainable food options.
Christophe Maire, Founder and Managing Partner at Food Labs, stated that the Barakah model is beneficial for retail partners, customers and the planet. Maire added they are supporting a strong team with ambitions to expand throughout the GCC.
Barakah since its inception has sold over 400,000 meals that would have otherwise been wasted. It already has over 800 merchants like Dunkin Donuts and Tim Hortons and other major local retailers as its partners.
Al-Saud stated that collaborating with FoodLabs and Maire will help propel their growth and expand their offerings, and leverage FoodLabs insights and global foodtech expertise.
The company’s early backers include Plus VC, Innovation Ventures, 500 Sanabil, Oryx HP and Kaust Innovation.
Maire stated that the company is demonstrating that commerce and growth can drive significant impact. The team believes food waste is a multi-billion dollar opportunity, and a company like Barakah can have a positive impact on society and climate.
