Tuesday, 16 July 2024

Revival Lab leads $13.6 million round through United Investments partnership

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Revival Lab, a venture builder, announced the signing of an investment partnership with United, an investment company in the food and beverage sector, to collaborate in advancing innovation in this sector and direct support for entrepreneurs.

United was founded in 2022 to build scalable brands that fit market opportunities and seeks to acquire more than 30 new and fast-growing brands in Saudi Arabia. This partnership aims to encourage and support the growth of new ventures in the food and beverage sector in the Kingdom, support entrepreneurs in such a crucial industry, and promote the remarkable shift towards cloud kitchens.

Eng. Mohammed bin Abdulhadi AlQahtani, CEO of United, said: “We seek to strengthen local brands in the food and beverage sector and help build their plans for growth and expansion inside and outside the Kingdom by improving expenditure efficiency and developing operational excellence plans.”

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Eng. Mohammed bin Abdulhadi AlQahtani co-founded the brand (Shawarma Hilayel “شاورما هليل”) and led its growth and expansion plans to reach more than 26 branches, in addition to more than 20 other brands with nearly 100 branches.

According to Mohammed bin Abdulaziz AlMaghlouth, CEO of Revival Lab: “the agreement will provide unique opportunities to support male and female entrepreneurs as the industry shifts to cloud kitchens. It also seeks to develop startups in this field by building an integrated system that supports financial sustainability and good return on investment for investors.”

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