Dubai-based surplus food marketplace Peekabox has secured $1.5 million in an oversubscribed seed round, as it looks to scale operations in the United Arab Emirates and expand across the Gulf.
The startup, founded in 2025 by brothers Hasan and Omair Sarwar, connects restaurants, cafés and grocery retailers with consumers by offering surplus food at discounts of 50% to 70%. Users purchase “surprise boxes” via the app and collect them within set time windows.
The round drew backing from regional operators and advisors, with a board chaired by former Dubai International Capital CEO Sameer Al Ansari. Other advisors include Meta’s Middle East and Africa chief Fares Akkad and Nestlé MENA Chairman Yasser Abdulmalak.
Peekabox is entering a market shaped by both high food waste and rising living costs. The UAE discards more than $3.5 billion worth of food annually, with about 38% of prepared food going to waste, according to company estimates. At the same time, inflation has pushed up household expenses in cities such as Dubai.
“We’re solving two problems at once,” Chief Executive Officer Hasan Sarwar said. “Consumers access brands they already love at meaningful discounts, while partners turn surplus stock into incremental revenue instead of waste.”
The platform launches with more than 1,000 stores signed across over 40 brands, including Carrefour, Costa Coffee, Tim Hortons, Dunkin’, Krispy Kreme and Eataly. Franchise partners include Majid Al Futtaim, Apparel Group and Americana.
Proceeds from the funding will be used to support go-to-market efforts in the UAE, including marketing and operations, before a broader regional rollout. Saudi Arabia is the next target market, given what the company describes as a surplus food volume of more than 4 million tonnes and over 130,000 potential partner outlets.
“The UAE is the perfect launchpad,” Chief Operating Officer Omair Sarwar said. “We’ve built the supply side first, and now we’re ready to scale.”