In an exciting milestone for the Iraqi startup ecosystem, Alsaree3, a leading food and last-mile delivery service, has secured a seven-figure Series A funding round. This round saw participation from investors, including Iraq Venture Partners (IVP), Euphrates Ventures, and Snoonu.

 

Founded in 2018 by Bassam Al-Ateia, Alsaree3 has become a household name, known for its efficient and user-friendly platform. The new investment will accelerate Alsaree3's growth plans and strengthen its position in the Iraqi market.

 

Alsaree3 is part of the Scale Iraq Program, an initiative by IVP to support startups and enhance their attractiveness to investors. This program provides comprehensive support, including investment readiness programs, mentorship, and access to a robust network of investors. Launched by IVP and the International Finance Corporation (IFC), Scale Iraq aims to support 30 Iraqi startups, providing tailored interventions to help them raise financing and connect with potential investors​.

 

The investment from Snoonu, a regional powerhouse, underscores the potential of the Iraqi market. Hamad Mubarak Al-Hajri, Founder & CEO of Snoonu, emphasized the growth potential and the significant impact this partnership will have on Iraq's social and economic development.

 

Geoffrey Batt of Euphrates Ventures highlighted that this round is not just about capital but also technology sharing, setting the stage for Alsaree3's next development phase. Mohammed Khudairi of IVP echoed this sentiment, noting the positive ripple effect Alsaree3's success will have on the entire Iraqi startup ecosystem.

 

With the new funding and strategic support from the Scale Iraq Program, Alsaree3 is poised for remarkable growth and continued success, showcasing the vibrant potential of Iraqi startups on the regional stage.

 

For more details, you can read the full press release on Wamda.