Investments
2Partners & Customers
2Latest Dogus Group News
Jul 4, 2021
Source: Bloomberg Kitopi raised $415 million in a Series C funding round led by Softbank, with participation from Chimera, DisruptAD, B. Riley, Dogus Group, Next Play Capital and Nordstar. This round marks SoftBank Vision Fund 2’s first investment in a UAE-headquartered company. Kitopi “has crossed the billion dollar valuation mark now,”, said Mohamad Ballout, Kitopi’s CEO. “We now have enough capital to really fuel the growth of our business in the Middle East and to expand globally.” The deal marks one of the largest funding rounds for a Middle East technology company. Kitopi was rated the second most funded startup in the UAE in 2020, however today it has overtaken EPMG as the first. Kitopi operates 60+ cloud kitchens across the UAE, KSA, Kuwait, and more recently, Bahrain. Cloud kitchens, which handle food preparation of delivery orders for multiple restaurant brands, have become a new hotspot for tech investors as the pandemic has hit restaurant dining. Kitopi partners with restaurants and F&B brands, enabling them to expand their reach through its kitchens, in as little as 14 days. Faisal Rehman, Managing Partner for SoftBank Investment Advisers, said: “Constraints placed on the hospitality sector by the global pandemic have rapidly catalyzed the value proposition of cloud kitchens for customers and restaurant brands. We believe Kitopi’s proprietary technology is changing the unit economics of food delivery in providing more choice to more customers, in more places. Moreover, we are delighted to welcome Kitopi as SoftBank’s first UAE-headquartered investment and are excited by the company’s growth prospects in the region and beyond. The funding package will be used to accelerate the firm’s expansion in Saudi Arabia and also to start operations in new countries. Kitopi will make Saudi Arabia its Middle East headquarters while Dubai will remain a global head office as it looks to expand into Southeast Asia. If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section. CLOUD KITCHEN
Dogus Group Investments
2 Investments
Dogus Group has made 2 investments. Their latest investment was in Kitopi as part of their Series C - II on May 5, 2022.
Dogus Group Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/10/2022 | Series C - II | Kitopi | $300M | No | 4 | |
7/1/2021 | Series C |
Date | 5/10/2022 | 7/1/2021 |
---|---|---|
Round | Series C - II | Series C |
Company | Kitopi | |
Amount | $300M | |
New? | No | |
Co-Investors | ||
Sources | 4 |
Dogus Group Acquisitions
1 Acquisition
Dogus Group acquired 1 company. Their latest acquisition was Istanbul Doors Group on November 20, 2012.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
11/20/2012 | Acquired | 1 |
Date | 11/20/2012 |
---|---|
Investment Stage | |
Companies | |
Valuation | |
Total Funding | |
Note | Acquired |
Sources | 1 |
Dogus Group Partners & Customers
2 Partners and customers
Dogus Group has 2 strategic partners and customers. Dogus Group recently partnered with Nexans on February 2, 2016.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
2/16/2016 | Vendor | France | Dogus Construction Group selects Nexans cables to power new Istanbul Metroline - Nexans Dogus Construction Group selects Nexans cables to power new Istanbul Metroline . | 1 | |
12/1/2013 | Partner |
Date | 2/16/2016 | 12/1/2013 |
---|---|---|
Type | Vendor | Partner |
Business Partner | ||
Country | France | |
News Snippet | Dogus Construction Group selects Nexans cables to power new Istanbul Metroline - Nexans Dogus Construction Group selects Nexans cables to power new Istanbul Metroline . | |
Sources | 1 |
Dogus Group Team
3 Team Members
Dogus Group has 3 team members, including former Chief Financial Officer, Murat Cinaroglu.
Name | Work History | Title | Status |
---|---|---|---|
Murat Cinaroglu | Marka Holding, Louis Vuitton, and PwC | Chief Financial Officer | Former |
Ertan Turkmen | Chief Financial Officer | Former | |
Ozlem Denizmen | Executive Vice President | Former |
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