{"id":655629,"date":"2024-11-21T00:00:00","date_gmt":"2024-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/"},"modified":"2024-11-21T00:00:00","modified_gmt":"2024-11-21T00:00:00","slug":"ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/","title":{"rendered":"Ariika raises USD 3 mn in series A extension funding to fuel regional growth"},"content":{"rendered":"

Ariika looks investors at home and in the region to fund growth plan:<\/strong> Digital-led home furnishing brand Ariika has raised USD 3 mn in a series A extension round led by Beltone Venture Capital and UAE-based Citadel International Holdings, according to the company\u2019s press release (pdf)<\/a>.<\/p>\n

Where is the money going?<\/strong> The funds will support ariika\u2019s expansion in its home market and help strengthen its presence in Saudi Arabia and Iraq, which are expected to account for half of the company\u2019s consolidated business by 2025. Ariika recently opened a flagship store in Baghdad and plans to launch its first Saudi Arabia location in January. The funds will also be channeled into developing its product portfolio and executing go-to-market strategies as part of its efforts to tap into a USD 20 bn home and decor market in the MENA region. <\/p>\n

About ariika: <\/strong>Founded in 2016, Ariika is a digital-led home furnishings company that serves customers through online and offline channels. The startup has achieved a compound annual growth rate (CAGR) of 90%, serving over 1 mn customers globally. <\/p>\n

What they said: <\/strong>\u201cOur strategy will always be to develop innovative, must-have products, build deep and personal connections with our consumers, and deliver a superior online and offline experience. We are a value- based brand focusing on our people, customers, quality, and profits,\u201d said co-founder and CEO Khaled Attalah.<\/p>\n

**We sat down with Attalah last year<\/strong> for our Founder of the Week column. You can check out the interview here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funds will drive market expansion in Saudi Arabia and Iraq and enhance product portfolio<\/p>\n","protected":false},"author":1,"featured_media":655630,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[7033,72,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-ariika","tag-enterpriseam","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"9e2997e5-e7b7-4ba3-a727-8c62d8a8097a","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2037.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ariika raises USD 3 mn in series A extension funding to fuel regional growth","related_issue":[655617],"teaser":"The funds will drive market expansion in Saudi Arabia and Iraq and enhance product portfolio","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.fc0a15fc-44e3-47ba-84ce-025cb2462597.mp3"},"yoast_head":"\nAriika raises USD 3 mn in series A extension funding to fuel regional growth - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ariika raises USD 3 mn in series A extension funding to fuel regional growth\" \/>\n<meta property=\"og:description\" content=\"The funds will drive market expansion in Saudi Arabia and Iraq and enhance product portfolio\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-21T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2037.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Ariika raises USD 3 mn in series A extension funding to fuel regional growth\",\"datePublished\":\"2024-11-21T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/\"},\"wordCount\":257,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2037.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Ariika\",\"EnterpriseAM\",\"Startup watch\",\"startups\"],\"articleSection\":[\"Startup watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/ariika-raises-usd-3-mn-in-series-a-extension-funding-to-fuel-regional-growth\/\",\"name\":\"Ariika raises USD 3 mn in series A extension funding to fuel regional growth - 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It\u2019s a calm-ish afternoon to wrap up the first week of the month, which we\u2019re not exactly complaining about\u2026 THE BIG STORY TODAY BVC snaps up 20% of ariika in series A equity round: Beltone Venture Capital \u2014 Beltone Financial Holding\u2019s recently-launched venture capital arm\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/3633.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618702,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/beltones-vc-arm-partners-with-ci-vc-to-manage-a-usd-30-mn-startup-fund\/","url_meta":{"origin":655629,"position":2},"title":"Beltone\u2019s VC arm partners with CI VC to manage a USD 30 mn startup fund","author":"enterpriseam admin","date":"18 April 2024","format":false,"excerpt":"The fund has already deployed funds in a number of startups across the region","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1175.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":657796,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/26\/beltone-holding-ceo-dalia-khorshid-honored-at-forbes-middle-east-womens-summit-2024\/","url_meta":{"origin":655629,"position":3},"title":"Beltone Holding CEO Dalia Khorshid honored at Forbes Middle East Women's Summit 2024","author":"enterpriseam admin","date":"26 December 2024","format":false,"excerpt":"Beltone Venture Capital\u2019s CEO was also recognized by Forbes Middle East","rel":"","context":"In "Kudos"","block_context":{"text":"Kudos","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/kudos\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/800.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563913,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/","url_meta":{"origin":655629,"position":4},"title":"Bosta plans to land in Saudi Arabia by early next year","author":"enterpriseam admin","date":"28 July 2021","format":false,"excerpt":"Egyptian courier startup Bosta plans to enter the Saudi market by early 2022, as part of the company\u2019s plans to expand its presence in the Gulf region, co-founder and COO Omar Yaghmour told Al Mal. The company is also eyeing the UAE and Kuwait Yaghmour said. Bosta seems to have\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/281.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544946,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/sports-startup-eksab-closes-a-second-usd-3-mn-seed-round-rabbit-gets-license-in-ksa\/","url_meta":{"origin":655629,"position":5},"title":"Sports startup Eksab closes a second USD 3 mn seed round + Rabbit gets license in KSA","author":"enterpriseam admin","date":"29 March 2022","format":false,"excerpt":"Cairo-based fantasy football startup Eksab has closed a USD 3 mn seed round led by Africa-focused VC firm 4DX Ventures, with participation from Darwazah Capital, Golden Palm Investments, P1 Ventures, and other angel investors, the company announced in a press release (pdf).About the company: Eksab is Egypt\u2019s only licensed fantasy\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/686.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=655629"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655629\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/655617"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/655630"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=655629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=655629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=655629"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=655629"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=655629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}