What is Floward?
Floward operates as a digital-first florist and gift delivery service, headquartered in Sharq, Kuwait. The company has successfully expanded its reach to 18 cities across seven countries within the Middle East and North Africa (MENA) region, in addition to establishing a presence in London, UK. By leveraging technology, Floward aims to revolutionize the gifting experience, offering a curated selection of flowers and gifts with a focus on convenience and quality for its expanding customer base.
How much funding has Floward raised?
Floward has raised a total of $186.3M across 3 funding rounds:
Series A
$2.8M
Series B
$27.5M
Series C
$156M
Series A (2020): $2.8M with participation from Faith Capital, Impact46, and BNK
Series B (2021): $27.5M led by STV and Impact46
Series C (2023): $156M supported by Aljazira Capital and STV
Key Investors in Floward
Aljazira Capital
Aljazira Capital is an ICM certified entity operating in the Saudi Market, focusing on providing custody services for regional and international markets.
STV
STV is the Middle East & North Africa (MENA) region's largest venture capital fund, backing and scaling disruptive technology companies with over $500 million in deployable capital.
Impact46
Impact46 is a leading asset management firm authorized by the Capital Market Authority (CMA), focusing on venture capital investments in tech startups within the Kingdom and operating as an arrangement advisory firm.
What's next for Floward?
With the recent major strategic investment, Floward is poised for accelerated growth and further market penetration. The substantial capital infusion is expected to fuel expansion into new geographies, enhance technological capabilities for a seamless customer experience, and potentially diversify its product offerings. This funding round, categorized as enterprise-level, suggests a strategic focus on scaling operations, optimizing supply chains, and solidifying its competitive advantage in the burgeoning online gifting market.
See full Floward company page
