About iKcon
iKcon is an Industrial Goods & Manufacturing company based in Dubai (United Arab Emirates) founded in 2019 by Kareem Abughazaleh and Khalid Baareh, and was acquired by REEF in November 2021. Kitchen equipment is manufactured by iKcon in Dubai since 2019. iKcon has raised $25 million across 2 funding rounds from investors including REEF, Alhokair group and Mohamed Yousuf Naghi & Brothers Group. Its chief executive, as recorded, is Khalid Baareh. Its focus areas include Food and Agriculture, Food Processing & Packaging Equipment and Diversified.
Company details
iKcon was established in 2019 in Dubai, United Arab Emirates, as a manufacturer of kitchen equipment. Production operations are centered on creating various tools and appliances for commercial and residential use. The company operates within the manufacturing sector, with leadership provided by co-founders Khalid Baareh, serving as CEO, and Kareem Abughazaleh, as COO. Focus is maintained on regional markets in the UAE.
Funding Insights of iKcon
iKcon has successfully raised a total of $25M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $20 million completed in March 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $25M
- Total Rounds 2
- Last Round Series A — $20M
- First Round $5M
(Aug 2020)
- Investors Count 7
All 2 funding rounds of iKcon with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2021 | $20M | Series A | – | Mohamed Yousuf Naghi & Brothers Group, Derayah Venture Capital Fund | – |
| Aug 2020 | $5M | Seed | – | Arzan Venture Capital |
8 investors in total: 8 institutional.
Investors in iKcon
iKcon has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include REEF, Alhokair group and Mohamed Yousuf Naghi & Brothers Group.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
A venture capital fund based in Saudi Arabia is operated. | 2020 | derayah.vc | Riyadh, Saudi Arabia | |
Global tech firms are funded at seed and growth stages. | byvp.com | Beirut, Lebanon | ||
| altouq.com | ||||
Corporate-backed venture capital firm focused on gaming, food tech, and multiple sectors | arzanvc.com | Dubai, United Arab Emirates | ||
It serves as a diversified conglomerate operating across multiple industries. | 1991 | nazer.com | Jeddah, Saudi Arabia | |
Hospitality and investment services are provided in multiple sectors. | 1975 | alhokair.com | Riyadh, Saudi Arabia | |
A conglomerate group is engaged in diverse business sectors. | mynaghi.com | |||
REEF is focused on connecting goods and services to local neighborhoods through digital solutions. | 2013 | reeftechnology.com | Miami, United States |
Investor details for iKcon
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People of iKcon
2 people are tracked at iKcon (2 in leadership).
| Name | Role | Group |
|---|---|---|
Kareem Abughazaleh | Co-Founder & COO | Leadership |
Khalid Baareh | Co-Founder & CEO | Leadership |
Complete people profiles for iKcon
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Timeline of iKcon
4 dated milestones of iKcon across 2 years, from founding to its latest funding, stage changes and deals.
- Founded iKcon is founded.
- Funding First funding round of $5.0M.
- Funding Latest funding round, Series A, of $20.0M.
- Exit Acquired by REEF.
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Frequently Asked Questions about iKcon
iKcon was founded in 2019 and raised its 1st funding round 1 year after it was founded.
iKcon is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Khalid Baareh is the CEO of iKcon, as recorded in our data. They have also founded this company.
iKcon is a funded company, having raised a total of $25M across 2 funding rounds to date. The company's 1st funding round was a Seed of $5M, raised on Aug 2020.
iKcon was established in 2019 in Dubai, United Arab Emirates, as a manufacturer of kitchen equipment. Production operations are centered on creating various tools and appliances for commercial and residential use. The company operates within the manufacturing sector, with leadership provided by co-founders Khalid Baareh, serving as CEO, and Kareem Abughazaleh, as COO. Focus is maintained on regional markets in the UAE.
iKcon has 8 investors. Key investors include REEF, Alhokair group, Mohamed Yousuf Naghi & Brothers Group, Derayah VC, and B&Y Venture Partners.
Yes. iKcon was acquired by REEF in November 2021.