# Alsaree3 Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/alsaree3-group

- Industry: Internet
- Headquarters: Iraq
- Website: www.alsaree3.com/
- Latest round: Series A (Jun 26, 2024)
- Investors on record: 4

## About

Alsaree3 Group Ltd. is a food delivery service based in Iraq, streamlining meal orders from local restaurants through an advanced mobile application designed for efficiency and user satisfaction.Founded in 2018, Alsaree3 Group Ltd. operates as a food delivery service catering to the urban population of Baghdad, Iraq. The company was established by Bassam Al-Ateia, who has a background in entrepreneurship. The firm has successfully completed 4 deals, with its most recent funding round occurring on June 26, 2024, in which it raised USD 3.50 mn led by Euphrates Advisors.AlSaree3 is a food delivery service based in Baghdad, Iraq, providing a platform for customers to order meals from a diverse selection of local restaurants. The core offering of AlSaree3 is its user-friendly mobile application, which utilizes advanced artificial intelligence algorithms to enhance the efficiency of food distribution according to the precise locations of restaurants, drivers, and customers. The service is designed to meet the needs of over 100,000 customers by facilitating swift access to meals from more than 500 restaurants, ranging from traditional to contemporary cuisines. AlSaree3 operates in the Iraqi market, specifically targeting urban consumers in Baghdad, where demand for reliable and rapid food delivery services is high.AlSaree3 generates revenue primarily through transactions facilitated on its application, where customers place orders for food delivery from partner restaurants. The transaction structure is built around direct-to-consumer sales, where customers pay for their selected meals at the time of order placement. AlSaree3’s business model includes a commission-based partnership with restaurants, allowing the company to earn revenue from each order processed through its platform while ensuring affordability for users.In June 2024, Alsaree3 Group Ltd. raised USD 3.50 mn in a Series A funding round co-led by Iraq Venture Partners and returning investor Euphrates Advisors, with participation from Snoonu Trading and Services L.L.C. The company plans to utilize this funding to advance its growth ambitions, which include increasing its driver hubs and expanding into two additional cities, along with the launch of 11 new verticals.

## Funding rounds

- Series A, Jun 26, 2024 — Snoonu Company, Euphrates Advisors, Iraq Venture Partners
- Seed, Sep 20, 2020 — Iraq Tech Ventures

## Investors

- Iraq Tech Ventures (https://capitalatlas.ai/funds/iraq-tech-ventures) — Seed
- Snoonu Company — Series A
- Euphrates Advisors (https://capitalatlas.ai/funds/euphrates-advisors) — Series A
- Iraq Venture Partners (https://capitalatlas.ai/funds/iraq-venture-partners) — Series A