Citron a Dubai-based startup offering distinctive mealtime products to children and families, has successfully received pre-Series A funding from Arzan Venture Capital. A boost to female-founded businesses and direct-to-consumer business models, the funding is a “sizeable seven-figure dollar” investment, according to its release, and will be used to further growth and product development.
Launched by Sara Chemmaa in 2017, Citron sought to fill a need in the market for stylish and leakproof lunchboxes. Initially starting with one single product, the homegrown startup has sold more than 100,000 items, with its release stating that the company has experienced a 200% year-on-year growth.
The brand has also expanded its offering to include over 90 products, consisting of a sustainable range, a bamboo range, and a line specifically designed for teenagers. With its significant growth, it’s only fair that it had become an appealing investment opportunity for Kuwait-based Arzan Venture Capital.
“As a non-tech company, the investment is even more meaningful, as this sector is currently out of favor by investors,” says Chemma, founder and CEO, Citron. “As a female-owned and-run business, we are thrilled to be paving the way, and we are thankful to Arzan VC for backing strong female founders who are underrepresented and overlooked, despite demonstrating superior returns.”
The funding comes at an opportune time for the local brand as it has also recently secured a distributor agreement with MAPYR Dubai. With the new funds, Chemmaa states that it will be used to support growth outside of the GCC. “We are launching operations in China, where we plan to have our own sales office for Asia,” she says. “We will also be launching into Europe very soon.” Besides new territories, the company is also investing on direct-to-consumer activities and launching new products.
source: Entrepreneur middle east
