Dubai-based startup Growdash has successfully closed a pre-seed funding round, raising $750,000. The funding round was led by Flat6Labs, a prominent regional venture capital firm. Other participants in the round included Plus Venture Capital, Judah VC, TPN Investments, and a group of distinguished angel investors, including Abdulhamid Alomar, former CEO of Talabat, and serial entrepreneur Zeid Husban.
Growdash, founded in 2022 by Sean Trevaskis and Enver Sorkun, aims to address the challenges faced by restaurants in the highly competitive food and beverage (F&B) sector. The company’s mission is to enable restaurants to unlock the power of analytics and business intelligence to build and execute growth strategies that drive profitability.
To achieve this, Growdash has developed an in-house Software-as-a-Service (SaaS) solution that connects data points across a restaurant’s pre- and post-order journey. By leveraging this platform, restaurants gain access to valuable market data and insights that inform informed decision-making, maximizing their return on growth investments and achieving profitability on online food delivery platforms.
Notable brands such as Nandos, Wagamama, Kreative Restaurants & Co, Papa Murphy’s, and Malak Al Tawouk have already benefited from Growdash’s platform, experiencing over an 800 percent increase in returns on their online advertising efforts while enhancing bottom-line profitability.
The recently raised capital will be used to expand the team, enhance the platform’s capabilities with advanced innovative features, and extend services to a wider region. Growdash currently operates in the UAE and Kuwait and plans to launch its SaaS offering in Qatar and KSA later this year, with further expansion into the wider region scheduled for early 2024.
Sean Trevaskis, Co-Founder and CEO of Growdash, expressed excitement about partnering with Flat6Labs and Plus Venture Capital, along with other industry-focused investors. Trevaskis emphasized the significant growth the company has experienced and the value it brings to the restaurant industry. The funding will accelerate their growth and empower restaurants to stand out in the competitive online food delivery landscape.
Enver Sorkun, Co-Founder and CPO at Growdash, highlighted the value-add ecosystem the company has built and the convenience it offers through its SaaS platform. By fostering synergy between restaurant brands and regional food aggregators, Growdash enables restaurants to tap into the full potential of acquiring new customers and growing revenue without taking significant investment risks.
Ryaan Sharif, General Manager at Flat6Labs UAE, commended Growdash’s platform for its potential to revolutionize how restaurants leverage online channels for growth. Flat6Labs aims to provide not only working capital but also expertise in nurturing early-stage businesses. The partnership aligns with their commitment to fostering a thriving ecosystem of disruptive startups that drive positive change across the GCC and beyond.
Hasan Haider, Founder, and Managing Partner at +VC, expressed excitement about investing in Growdash and praised the company for its dedication to empowering restaurant growth through analytics and business intelligence. Haider looks forward to supporting Growdash in scaling and becoming a leader in the industry.
Restaurants using Growdash’s platform benefit from an easy-to-use dashboard that centralizes performance data across food delivery channels. The platform’s algorithm analyzes key metrics such as return on advertising spend, menu conversion, average order value, and cost per order. With actionable growth recommendations and insights, restaurants can achieve operational profitability.
With this recent funding, Growdash is well-positioned to further empower restaurants in their online growth strategies and make a significant impact on the regional F&B sector.