Dubai of Tomorrow
Dubai of Tomorrow · The backers
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Cedar Mundi Ventures

Cedar Mundi Ventures is a London-based seed and early-stage venture investor, part of the asset management division of the Al-Bahar family office alongside affiliated firms Nox Management and Arzan VC. It backs B2B and B2B2C technology companies across healthtech, traveltech, e-commerce, e-logistics and fintech, with a portfolio that includes Washmen and Quiqup.

Venture capital  /  London
Site cedarmundi.comMap On the mapNot yet confirmed by the firm.Confirm this record →

Portfolio on the record

2 founders, as stated on their cards.

Dubai of Tomorrow
People Companies Ideas Capital
No.035
Rami Shaar
Founder, Washmen
Logistics
A former Uber manager, he took Washmen from an asset-light laundry app to owning the full supply chain, including a 30,000 sq ft Jebel Ali facility, and reached profitability on only $11M raised.
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Dubai of Tomorrow
People Companies Ideas Capital
No.035
Washmen
Founded 2015 · Dubai
$6.2M
Total funding as recorded
$11M
to profitability · Total raised
Recorded 15 Jul 2026
Backers
All 4 backers
Compounding moves
  • 2015Founded Washmen in Dubai with Jad Halaoui out of Flat6Labs
  • 2019Raised $6.2M Series B led by AddVenture, with Henkel as strategic investor
  • 2023Declared first profitable year on roughly $3M EBITDA
2 sources · HistoryBitcoin proof
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Dubai of Tomorrow
People Companies Ideas Capital
No.036
Bassel El Koussa
Founder, Quiqup
Logistics
He shifted Quiqup's centre of gravity from London to Dubai and rebuilt it as an e-commerce fulfilment and same-day delivery network for GCC retailers.
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Dubai of Tomorrow
People Companies Ideas Capital
No.036
Quiqup
Founded 2014 · London
$5.5M
Total funding as recorded
25x since
2021 · Customer growth
Recorded 15 Jul 2026
Backers
All 4 backers
Compounding moves
  • 2014Co-founded Quiqup in London as an on-demand delivery startup
  • 2017Raised a 20M pound Series B and began Middle East expansion
  • 2020Raised over $5.5M led by Delivery Hero and doubled down on the UAE
  • 2025Launched fulfilment and delivery in Saudi Arabia, targeting profitability by Q4
4 sources · HistoryBitcoin proof
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Syndicate

Firms that share a record with Cedar Mundi Ventures.

In your sectors, not yet in your portfolio

Founders on the record in Logistics whom Cedar Mundi Ventures has not backed, as stated on the cards.

Dubai of Tomorrow
People Companies Ideas Capital
No.020
Mohamad Ballout
Founder, Kitopi
Logistics
He runs kitchens as outsourced infrastructure, cooking and delivering for restaurant brands that want to expand without building their own sites.
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Dubai of Tomorrow
People Companies Ideas Capital
No.020
Kitopi
Founded 2018 · Dubai
$765M
Total funding as recorded
200+ across 5
GCC markets · Locations
Recorded 17 Jul 2026
Backers
All 4 backers
Compounding moves
  • 2018Founded in Dubai as a managed cloud kitchen platform
  • 2021Raised $415M Series C led by SoftBank Vision Fund 2, reaching unicorn status
  • 2021Extended the Series C by $300M, lifting the round to $715M total and a $1.55B valuation
  • 2026Raised $50M growth round led by EvolutionX after reaching profitability, with 200+ locations across five GCC markets
3 sources · HistoryBitcoin proof
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Dubai of Tomorrow
People Companies Ideas Capital
No.022
Rita Huang
Founder, iMile
Logistics
She applied Chinese logistics methods to the Gulf's no-address problem, building a delivery network that carries Chinese e-commerce parcels into 30 countries.
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Dubai of Tomorrow
People Companies Ideas Capital
No.022
iMile
Founded 2017 · Dubai
$40M
Total funding as recorded
30 countries
Network
Recorded 15 Jul 2026
Backers
Compounding moves
  • 2017Founded in Dubai to carry Chinese e-commerce parcels into the Middle East
  • 2021Raised $40M Series A at a $350M valuation
  • 2024Shifted core resources to Mexico, lifting coverage past 95%
  • 2025Network reached 30 countries with expansion into Europe and Australasia
2 sources · HistoryBitcoin proof
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Dubai of Tomorrow
People Companies Ideas Capital
No.007
Idriss Al Rifai, Joy Ajlouny
Founder, Fetchr
Logistics
GPS-first delivery that replaced street addresses with phone pins.
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Dubai of Tomorrow
People Companies Ideas Capital
No.007
Fetchr
Founded 2012 · Dubai
~$77M
Total funding as recorded
2
Backers on record
Recorded 9 Aug 2026
Backers
Compounding moves
  • 2012Built on the phone-as-address insight
  • $41M · 2017 Series B led by NEA
  • 2021Insolvent; lead investor BECO warned of liquidation
8 sources · HistoryBitcoin proof
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Provenance

About the firm, as sourced:

Portfolio as stated on 2 records: No. 035, No. 036. This page is a view of the record. The anchored facts live on each card.