Watermelon teams up with Daman Investments for $4M Series-A
UAE-based startup announced the successful completion of its $4 million Series A funding round after a successful seed round in 2022.
Watermelon Ecosystem, an F&B startup, completes a $4 million Series A funding round. New investors now hold a 13.8% stake, valuing the company at $29 million post-investment. The UAE-based food industry startup concludes this round after completing a previous seed round in 2022.
Key investors spearheaded the funding with backing from Daman Investments, a top regional firm that served as the fundraising advisor.
Daman Investments, through its Investment Management & Advisory (IMA) division, focuses on guiding and assisting entrepreneurs and companies in raising funds at various stages, including equity rounds.
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Watermelon uses advanced technology solutions and financial tools that enhance operational efficiency and strengthen connections throughout the supply chain. The startup focuses on local growth and development.
Daman Investments expressed its commitment to fostering growth in the emerging Arab World Economy. As advisors and facilitators in Watermelon’s growth journey, the institution is proud of its role and anticipates further strategic collaborations within the UAE’s startup and business community.
The UAE is renowned globally for its leadership in technology and innovation, serving as a hub for cutting-edge advancements and groundbreaking solutions. Positioned strategically within this dynamic landscape, Watermelon aims to harness the UAE's supportive ecosystem to drive innovation and growth in the food tech industry.