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Venture Capital
FINANCE | Investment Firms & Funds
cedarmundi.com

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Investments

18

About Cedar Mundi Ventures

Cedar Mundi Ventures ("CMV") is a Lebanese venture capital firm investing in international technology startups, having substantial economic presence in Lebanon and growth opportunities in the Middle East. CMV invests, or co-invests alongside key European / US VC firms, in Series-A, -B and -C of mid- to late-stage technology startups. CMV reaches out to its European tech networks, and to the Lebanese Diaspora, in particular, to bring to the region game-changing technology startups founded or led by Lebanese entrepreneurs or friends abroad, seeking expansion capital and hands-on support from our corporate resources to access the Middle East markets. The firm indeed believes the Middle East offers tremendous growth opportunities for digital technology, which are best accessed from Lebanon as a regional tech hub, where startups benefit from a cost-efficient, multicultural and tech-savvy workforce. CMV is part of Kuwait Holding group, a major principal investor, asset manager and tech-driven conglomerate based in Kuwait, with a consolidated capitalization in excess of $6 billion with listings on the Kuwait and Dubai stock exchanges. Kuwait Holding group comprises prominent international companies, such as Alforda central markets / IFA Food, Aqarat, Ghaliah, International Financial Advisors, IFA Hotels & Resorts, MIAX, OnCost, and Yotel. In addition to principal investments in digital technology, Kuwait Holding manages to date venture capital funds in excess of $250 million, through its affiliates Arzan Venture Capital (UAE), Cedar Mundi Ventures (Lebanon), Chart Venture Partners (USA) and Nox Management (Kuwait).

Cedar Mundi Ventures Headquarter Location

Sodeco Square Center Block B, 5th Floor

Beirut, 1202-2062,

Lebanon

+961 1 422590

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Latest Cedar Mundi Ventures News

New e-grocery startup Raha launches in Kuwait

Apr 1, 2022

Raha raised $7m in its seed round of funding, led by Saudi’s Aujan Investments, Kuwait’s NOX Management and London-based Cedar Mundi Ventures by Gulf Business April 1, 2022 Raha, the region’s newest e-grocery platform, has officially launched in the Kuwait market. A homegrown concept, Raha is a pure-play, fully automated e-grocery platform, offering a full range of groceries, fresh produce and household essentials. It also features Kuwait’s first fully-automated robotics-fulfillment center, and one of the first centres of its kind globally, with a chilled warehouse capability. Developed by global warehouse automation specialist, Swisslog, the centre serves as the core foundation of Raha’s technology-driven operational model and fully automated, data-driven intralogistics system – featuring the AutoStore solution; an innovative automated material handling solution that uses robots on top of an aluminum grid system to store and locate goods, efficiently delivering them to pick stations for processing. David Dronfield, general manager of Swisslog Middle East, noted: “The micro-fulfilment centre (MFC) designed for Raha is the first automated MFC implemented in Kuwait, with a system designed in such a way that order capacity per day can be effectively doubled through the ease of expansion our solution provides.” Conceived as a digital operation first and foremost, Raha has made an investment in its technological infrastructure and completely self-serving operational model, including the robot-led fulfillment team and in-house preparation of all fresh items. It has an easy-to-navigate smart platform that leverages users’ data and insights to provide a personalised customer journey, with made-to-order items, easy step-by-step customisation, tailored recipes, and a wide range of varieties across all product segments. Co-founder and CEO of the company, Saleh Al-Tunaib, said: “From the outset, the goal was to develop a pure play digital retail operation that combined operational excellence with a simplified, intelligent user experience. Every step of the customer journey – from first log-in to final order delivery – has been carefully designed to deliver maximum convenience. We wanted to translate and elevate the traditional grocery experience at its absolute best to a seamless digital experience.” Raha was created and designed by a diverse team of people with experience in the fields of grocery retail, e-commerce and tech development. The company has completed its seed round of funding, with a capital of $7m raised – led by Saudi’s Aujan Investments, Kuwait’s NOX Management and London-based Cedar Mundi Ventures. Tags

Cedar Mundi Ventures Investments

18 Investments

Cedar Mundi Ventures has made 18 investments. Their latest investment was in dastgyr as part of their Series A on June 6, 2022.

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Cedar Mundi Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/14/2022

Series A

dastgyr

$15M

Yes

6

6/16/2021

Series A

Basma

$3M

No

6

4/21/2021

Series B

Proximie

$38M

No

20

11/24/2020

Series B - IV

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$99M

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10

6/24/2020

Series A

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$99M

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10

Date

6/14/2022

6/16/2021

4/21/2021

11/24/2020

6/24/2020

Round

Series A

Series A

Series B

Series B - IV

Series A

Company

dastgyr

Basma

Proximie

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Amount

$15M

$3M

$38M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

6

6

20

10

10

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