Foras Acquires Minority Stake In Canater For US$1 Million

Abu Dhabi-based investment firm based Foras has acquired a 10 percent stake in the Dubai-based logistics and supply chain startup Canater for US$1 million, aligning with its strategy to back startups applying technology to traditional sectors.  

The investment marks a step forward for Canater as it develops digital infrastructure to help manufacturers in the MENA region navigate global markets. Founded by Khamis Soliman in the UAE in 2025, Canater provides artificial intelligence (AI)-powered solutions designed to help manufacturers in the MENA region expand into global markets.  

The platform offers end-to-end services in cross-border trade, including digital contracts, financing, storage, logistics, and real-time shipment tracking. Its initial focus has been on the consumer-packaged goods (CPG) sector (covering food, beverages, cosmetics, and cleaning products), where it aims to support regional manufacturers in overcoming export challenges and increasing their global presence. 

“With a market size over $11.3 trillion, Canater represents an incredible opportunity for MENA investors to expand their portfolio in the CPG industry and its growing potential,” Soliman told Inc. Arabia. “Canater is also managed by well-rounded leaders across several fields including finance, technology, digital marketing, and supply chain, which brings tons of experience and reliability to its business model.” 

Canater's core value proposition lies not only in operational support, but also in helping manufacturers meet regulatory and legal requirements in destination countries—an area often cited as a major hurdle to exports from the region. Through its platform, Canater enables businesses to track shipments in real time and access tailored export services aimed at reducing friction across borders. 

Canater plans to use the investment from Foras to grow its sector footprint, upgrade its digital tools, and increase coordination with government and regulatory authorities to simplify export processes. These efforts, Soliman says, are essential to unlocking international potential for regional manufacturers. 

Commenting on trends in the domain in which his startup operates, Soliman pointed to artificial intelligence (AI) as being transformational for the supply chain sector, particularly in complex and fragmented markets like the MENA. “AI will be part of our daily life activities, and it will change a lot of industries forever, including manufacturing and supply chain,” he said. “This indeed represents a huge opportunity for the MENA region to bridge many gaps and expand globally, and that’s where Canater can help and support local players to go globally.” 

Soliman thus urged the MENA entrepreneurial ecosystem to support its innovators in what tech like AI has turned into an extremely dynamic landscape. “Authenticity and innovation is key for success in the AI era,” Soliman declared. “We have what it takes in our region to cultivate a global-standard organization, if we believe in our young generations, and work with them as enablers.” 

Pictured in the lead image is Foras CEO Mohamed Aboulnaga Nagaty and Canater founder Khamis Soliman. Image courtesy Canater.