UAE-Based Kitopi Raises US$50 Million Growth Capital Round Led By Singapore-Headquartered EvolutionX

UAE-based food and beverage (F&B) technology company Kitopi has raised US$50 million in a growth capital round led by EvolutionX, a growth-stage private credit platform established by Singapore-based investment firm Temasek and Singapore-based DBS Bank.

Founded in Dubai in 2018 by Chief Executive Officer Mohamad Ballout, Chief Growth Officer Bader Ataya, Chief Technology Officer Saman Darkan, Chief Financial Officer Sami Bejjani, and Chief Legal Officer Mahmoud Awad, Kitopi operates a F&B platform that combines technology, culinary development, and hospitality across delivery and dine-in formats. The company today employs more than 6,000 people and runs over 200 outlets across the UAE, Saudi Arabia, Kuwait, Bahrain, and Qatar. Its footprint also includes a global customer experience center in Dubai and Amman, alongside an engineering hub in Krakow, Poland, with operations supported by its in-house technology stack, SKOS. 

In an interview with Inc. Arabia, Bejjani noted how demonstrating favorable unit economics and company profitability got EvolutionX to back Kitopi. "We also showed a sustainable, proven growth engine that can support the next three years of growth," Bejjani added. "Finally, we demonstrated maturity in our processes and operating model, with a clear reliance on systems and scalable capabilities, rather than dependence on individuals."

The newly raised capital is set to be used to grow Kitopi’s homegrown brands across the GCC, while also supporting franchising plans both regionally and internationally. As the company’s footprint widens, Bejjani noted that scale brings a new set of operational considerations into focus. “First, supply chain reliability and vendor performance," he explained. "We are investing in our procurement capabilities and leveraging artificial intelligence (AI) to improve forecasting accuracy across our network. Second, consistency at scale. As the network grows, it becomes even more important to operate through systems that work seamlessly across locations, rather than relying on specific people. We continue to strengthen the tools, standards, and operating rhythms that help us deliver the same quality, taste, and speed everywhere.” 

Kitopi co-founder and Chief Financial Officer Sami Bejjani. Image courtesy Kitopi.

Kitopi is EvolutionX’s first investment in the GCC. Since launching in 2022, the private credit platform has committed approximately $450 million to growth to pre-initial public offering stage companies across Asia, spanning sectors including technology, consumer, healthcare, financial services, electric mobility, and digital infrastructure. Its entry into the GCC through Kitopi reflects both confidence in the company and a broader recalibration in how institutional capital is engaging with the region.

Rahul Shah, Partner, EvolutionX, told Inc. Arabia that the investment firm's bet on Kitopi was based off how the enterprise has translated scale into a more disciplined operating model. “We built conviction based on Kitopi's leadership position in the market, its innovative hybrid model, and its demonstrated profitability," Shah said. "We also see strong growth prospects, availability of scalable growth capital, and a visible path to a potential public listing over time."

Shah also noted that EvolutionX's investment in Kitopi has given it a broader read on how the regional ecosystem is evolving. “Growth stage companies in the GCC are becoming more open to alternative sources of global capital," Shah said. "At the same time, more founders are recognizing the importance of strong governance and a clear focus on profitability to attract institutional investors. Based on our experience in India and Southeast Asia, we expect the GCC ecosystem to continue maturing over the coming years, which should give global institutional investors greater comfort to participate.” 

Looking to the future, Bejjani highlighted that shifts in consumer behavior are shaping how Kitopi evaluates future growth opportunities and brand development. “Consumers are significantly more health-conscious, and we see that clearly in how our healthier brands are growing," he shared. "This shift also influences how we design menus and introduce healthier items across our portfolio, as customers increasingly prioritize healthier habits and more mindful consumption. Personalization is becoming standard. Customers increasingly expect brands to remember preferences, make recommendations, and tailor offers. This influences how we build loyalty, customer relationship management, and menu flexibility. While we already do this quite well with our meal plans brand Right Bite, we're working hard on bringing this to life across multiple other brands, via the Kitopi app." 

Meanwhile, as competition intensifies across the GCC’s food and beverage sector, Bejjani said that long-term success will ultimately come down to two key factors. “First, customer experience is the biggest differentiator," Bejjani declared. "Brands that win are the ones that consistently deliver experiences that customers want to come back for. Second, consistency at scale. Long-term winners deliver the same quality, taste, and speed every time, across every location."

Pictured in the lead image is the Kitopi team. Image courtesy Kitopi.