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Astana, Kazakhstan • 23 May, 2024 | 16:55
1 min read

Kazakh Startup Kwaaka Attracts Additional $100,000 Investment

The funds will be used to launch new products and build teams in Uzbekistan and Georgia

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Freepik/aleksandarlittlewolf

Kwaaka, a platform focused on cloud-based integration between delivery services and restaurants' POS systems, has attracted an additional investment of $100,000 from MOST Ventures. The raised funds will be used to launch new products and build teams in Uzbekistan and Georgia, QazMonitor reports citing the fund's press service.

Market Presence: Currently, the platform is actively expanding its presence in international markets. Kwaaka has launched operations in five countries: Kazakhstan, Uzbekistan, Kyrgyz Republic, Georgia, and Armenia. Recently, two new offices were opened in Tashkent and Tbilisi.

This is a successful case for our fund as the team is showing rapid growth in revenue and scaling the product to new markets. For us, this is an indicator of the right business model. We decided to give the startup an additional investment to enter new markets faster. 

Alim Khamitov, Managing Partner at MOST Ventures
  • Earlier, the startup attracted investments worth over $800,000 from Murat Abdrakhmanov, venture funds such as MOST Ventures, Big Sky Capital, Shanyraq VC, and business angels Madiyar Tuleuov, Olzhas Akbayev, and Aman Alimbayev.

  • Currently, more than 1,300 active restaurants use the platform.

"Our goal is to become the only product for the successful development of online restaurant delivery, providing comprehensive solutions and support at every stage. The investment will go towards launching new products and building teams in Uzbekistan and Georgia. We have been well received in the new markets, facing challenges but overall growth is ahead of schedule. In some countries, the queue for Kwaaka connection is over 200 restaurants,"

said co-founder Nabi Muratbek.

New Products: Kwaaka has introduced two new products that allow restaurants to launch their delivery service with a website, app, and couriers in one click. The platform aims to become the 'Shopify for restaurants,' helping them efficiently organize and develop online delivery.

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