News
Saudi Catering Supply Startup Kaso Gets $10.5 Million Investment
The B2B restaurant supply chain innovator has launched a new FinTech platform and plans to turn over $1 billion over the next 12 months.
Founded in 2021, Kaso is a Saudi Arabian B2B startup providing supply chain management tools for restaurants. The company already boasts 5,000-plus clients and partners across the United Arab Emirates and Saudi Arabia.
Kaso has seen strong growth since its founding and already includes notable brands like Burger King, Buffalo Wild Wings, Caribou Coffee, Chili’s, and Tim Hortons in its partner portfolio.
Recently, the startup raised $10.5 million in seed funding, enabling it to add a new FinTech platform to its suite of services that will further boost operations across the Middle East.
The funding round was backed by a range of regional strategic investors and saw international interest from the likes of Germany’s Global Founders Capital and Singapore’s MSA Novo, who both contributed to the startup’s first seed round in 2021, raising $2.1 million.
“It is very encouraging to see strong regional and international investors joining us, especially considering the challenges some startups currently face in the fundraising market,” explained Manar Alkassar, co-founder of Kaso.
Kaso’s primary goal is to “revolutionize” the food supply chain for the catering industry. To that end, the company’s new FinTech platform is intended to streamline operations using a “technology-backed ecosystem” to improve efficiency and transparency while reducing food waste.
Also Read: Revibe Has Raised $2.3 Million For Planned MENA Expansion
“It will offer payments and credit facilities to restaurants, further solving key challenges in the industry,” Mr. Alkassar said, with Kaso co-founder, Ahmed Soliman, adding: “Our platform has already made a significant impact in reducing inefficiencies in the industry, and we are confident that we can continue to make strides towards a more sustainable future.”
The restaurant procurement sector in the Middle East is a highly competitive industry. In the GCC alone, the market is projected to hit nearly $130 billion by 2029, at a compound annual growth rate of over 6%, according to research firm OCO Global.
News
Samsung Smart Glasses Teased For January, Software Reveal Imminent
According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.
Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.
As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.
Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.
Additionally, prior to revealing the prototype, Samsung plans to introduce…
— Jukanlosreve (@Jukanlosreve) December 3, 2024
The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.
A Collaborative Software Effort
Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.
Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.
Feature Set And Compatibility
The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.
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