EvolutionX has made its first investment in the Gulf region. The firm led a $50 million growth capital round for Kitopi. Kitopi is the Middle East’s leading next generation food and beverage technology platform. The deal highlights rising investor confidence in scalable F&B technology across the GCC.
EvolutionX Enters the GCC Market
EvolutionX is a growth stage private credit platform backed by Temasek and DBS Bank. This investment marks its official entry into the GCC. The firm aims to support high growth, technology driven companies with flexible capital.
The decision reflects strong belief in regional innovation. It also signals long term commitment to Gulf markets.
Key objectives include:
- Supporting proven, profitable businesses
- Offering less dilutive growth capital
- Expanding presence in emerging innovation hubs
EvolutionX sees the GCC as a fast growing global business center.
Funding to Accelerate Kitopi’s Expansion
Kitopi will use the $50 million to expand across high growth markets. These include the UAE, Saudi Arabia, Qatar, Bahrain, and Kuwait. The company will also scale its international franchising strategy.
The funding follows a major milestone. Kitopi has reached profitability.
Capital will support:
- Expansion of homegrown brands
- Growth of franchised concepts
- Entry into new regional and global markets
This round positions Kitopi for its next growth phase.
Kitopi’s Technology Driven Model
Kitopi has built a strong reputation across the GCC. The company combines hospitality with technology to deliver consistent food experiences. It operates more than 200 locations across five markets.
Its strengths include:
- Data driven insights into customer demand
- Centralized operations powered by technology
- An in house software suite known as SKOS
Kitopi uses technology to improve speed, quality, and scalability. This approach has reshaped the regional F&B landscape.
Leadership Perspectives on the Deal
Rahul Shah, Partner at EvolutionX, described Kitopi as a standout business. He highlighted its ability to scale, innovate, and execute. He noted that the partnership aligns with EvolutionX’s mission to back transformative companies.
Kitopi CEO and Co Founder Mohamad Ballout emphasized growth momentum. He shared that Kitopi has evolved from a local player into a regional platform. He confirmed plans to expand loyalty programs and international franchises.
Both leaders stressed long term collaboration and shared vision.
A Strategic Win for Both Companies
The investment strengthens Kitopi’s leadership position in MENA. It also establishes EvolutionX as an active capital provider in the GCC.
EvolutionX continues to focus on growth to pre IPO companies across sectors such as technology, consumer, healthcare, and digital infrastructure. Since 2022, it has committed nearly $450 million across Asia and beyond.
This partnership reflects confidence in Gulf based innovation and global ambition.