HeroGo Secures Undisclosed Funding from AngelSpark
HeroGo recently completed Oraseya Capital’s Sandbox program, receiving a diploma earlier this month.
UAE-based culinary tech startup HeroGo has raised undisclosed funding from AngelSpark. Founded in 2020, HeroGo connects local farmers and wholesalers with companies and consumers through a subscription-based digital platform, offering excess food at discounted prices to reduce waste and support sustainability.[1]
Read More: AngelSpark Invests in Plain Tiger
HeroGo recently completed Oraseya Capital’s Sandbox program, receiving a diploma earlier this month. The startup addresses the issue of food waste, with 33% of food discarded daily due to retail standards. HeroGo collaborates with producers and importers to deliver groceries, rescuing surplus produce and offering up to 40% savings.
With this investment, AngelSpark’s portfolio now includes seven companies, with plans to add another soon.
A recent analysis by MAGNiTT placed AngelSpark third among early-stage investors in the MENA region.
Venture capital investments in the UAE rose 113% year on year (YoY) in the second quarter (Q2) of 2024. This increase was driven by six key transactions that accounted for 60% of the quarter’s total funding.
During the first half (H1) of 2024, the UAE and Saudi Arabia accounted for 68% of MENA-based venture investors, contributing to an 8% YoY growth in local investors across the region.