Press release:
Syrian foodtech startup Percent Labs has closed a seed funding round at a valuation exceeding $1 million, with participation from Syrian angel investors based abroad. The amount raised was not disclosed.
The investment will support the company's expansion plans, including increasing its operational capacity, developing new food products and launching additional delivery-focused brands.
Established approximately 14 months before the announcement, Percent Labs operates a multi-brand cloud kitchen model that allows several food businesses to share production facilities and operational infrastructure rather than maintaining separate physical restaurants.
The company combines food brand development, product innovation, marketing and centralised kitchen operations. It also uses artificial intelligence to analyse operational data, support decision-making and improve efficiency across its portfolio of brands.
Percent Labs currently processes more than 10,000 orders per month through its delivery-focused food businesses.
The startup aims to increase monthly orders to more than 40,000 within the next 18 months by expanding its production capacity, growing existing brands and introducing new food concepts.
Its shared infrastructure model is designed to reduce operating costs and enable the company to expand its portfolio without the capital expenditure associated with opening separate restaurants for each brand.
The investment will also support improvements to the company's operational infrastructure as it seeks to expand its presence in Syria's restaurant and food delivery market.