Snoonu, the Qatari technology startup and e-commerce platform, announced its significant investment in Iraq-based food delivery app, Alsaree3. The Iraqi startup has successfully closed its Series A funding round, raising an undisclosed seven-figure sum.

This funding round was anchored by Euphrates Ventures and Iraq Venture Partners (IVP), alongside Snoonu Venture Capital, Snoonu’s investment arm.

This investment marks a significant milestone as it represents the export of Qatari technology to power an emerging market. By leveraging Snoonu's state-of-the-art logistics and delivery technology, Alsaree3 will be equipped to enhance its operational efficiency and service quality, demonstrating the impactful integration of advanced technology with local market expertise.

Founded in 2018 by Bassam Al-Ateia, Alsaree3 has quickly become a major player in Iraq’s food delivery market, offering a platform that simplifies food ordering and delivery. This fresh capital will allow Alsaree3 to fast-track its expansion plans, improving its services and widening its presence throughout Iraq.

Hamad Mubarak Al-Hajri, Founder & CEO of Snoonu, remarked: "We are proud to support Alsaree3's growth and contribute to the Iraqi startup ecosystem, which has the potential to become a leading market in the region. Combining Snoonu's advanced logistics technology with Alsaree3's local expertise, we foresee significant growth opportunities that will benefit Iraq's social and economic development."

Bassam Al-Ateia, Founder of Alsaree3, shared his excitement: "We are thrilled to close this round that is as much about technology sharing between Snoonu and Alsaree3 as it is about investment capital. Alsaree3 is primed to enter a new, exciting stage of development."

Alsaree3 has quickly become a household name in Iraq, known for its efficient and user-friendly platform that makes food ordering and delivery straightforward and accessible.

This substantial investment by Snoonu underscores the growing attractiveness of the Iraqi market and the significant advancements in the Iraqi startup ecosystem. This achievement is expected to encourage international investors to reconsider their investment strategies in Iraq, recognizing the potential demonstrated by Alsaree3’s success.

Source and cover image credit: Press Release

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