Alsaree3, one of Iraq’s fastest-growing food and last-mile delivery services, has successfully closed its Series A capital raise round, securing an undisclosed seven-figure investment from Snoonu, Qatar’s leading food delivery and e-commerce platform. Euphrates Ventures and IVP also participated in the round.

This new funding will enable Alsaree3 to accelerate its growth plans in Iraq and positively impact the overall Iraqi startup ecosystem. The investment by a regional powerhouse like Snoonu into an Iraqi startup underscores the advancement and unique potential of the Iraqi market, especially compared to other Gulf countries.

“Finally, we are here! Working with a partner like Snoonu, which has developed a great app and high-quality services, while maintaining the trust of our existing investors, is great news for our employees, partners, and the entire Iraqi ecosystem,” said Bassam Al-Ateia, Founder of Alsaree3.

Hamad Mubarak Al-Hajri, Founder and CEO of Snoonu, added, “We are proud to join Alsaree3’s journey and support the Iraqi startup ecosystem, which has the potential to be one of the leading markets in the region. With Snoonu’s advanced logistic technologies and Alsaree3’s local Iraqi talents and infrastructure, we see great growth potential for an Iraqi national startup to scale up massively, impacting the social and economic development of Iraq.”

“Alsaree3 is a true Iraqi success story, and Bassam is a leader of great focus who is tireless in his pursuit of efficient growth in an industry not known for discipline,” remarked Geoffrey Batt of Euphrates Ventures. “We are thrilled to anchor this round that is as much about technology sharing between Snoonu and Alsaree3 as it is about investment capital. Alsaree3 is primed to enter a new, exciting stage of development.”

“Alsaree3 is one of the high-potential home-grown startups in Iraq, and its success will have a positive ripple effect across the Iraqi ecosystem. We are keen to contribute to its success journey through our investment and readiness programs,” added Mohammed Khudairi, IVP General Partner.

Alsaree3 has rapidly become a household name in Iraq, known for its efficient and user-friendly platform that makes food ordering and delivery seamless and accessible.