Foras acquires 10% stake in Canater in a $1 million deal
Founded in 2024 by Khamis Soliman (Kash), Canater provides AI-powered solutions to help manufacturers in the MENA region expand into global markets. The platform offers end-to-end services in cross-border trade, including digital contracts, financing, storage, logistics, and real-time shipment tracking, with an initial focus on consumer-packaged goods.
The funding will be used to strengthen Canater's digital infrastructure, grow its market presence across multiple sectors, and deepen collaboration with regulatory bodies.
Press release:
In a move underscoring strong confidence in the emerging tech sector, "Foras", a leading investment and innovation firm, has announced the acquisition of a 10% stake in the startup "Canater", which specialises in providing innovative supply chains and logistics solutions for manufacturers in the Middle East and North Africa (MENA). The deal, valued at $1 million, reflects Foras' strategy to support startups transforming traditional industries through technology and innovation, powered by Artificial Intelligence (AI).
This investment highlights Foras' belief in Canater's promising future, as the startup aims to empower regional manufacturers to expand their products into global markets while navigating regulatory and legal challenges in target export countries. Canater offers a comprehensive suite of services, including storage solutions, logistics, financing, cross-border trading matching using AI, and a cutting-edge digital platform that allows manufacturers to track shipments with precision. By doing this, Canater establishes itself as a strategic partner for manufacturers, thereby facilitating exports and providing access to new global markets.
In its initial phase, Canater is focusing on the consumer-packaged goods (CPG) sector, which includes food, beverages, cosmetics, personal care products, and cleaning supplies. The company sees significant potential in the global CPG market, valued at approximately $11 trillion, as an opportunity for regional companies to enhance their global presence, especially given their current limited participation in international markets.
Mohamed Aboulnaga Nagaty, CEO of Foras, commented on the investment, stating, 'We believe in Canater's ability to bring about a transformative shift in how manufacturers in the region expand into global markets. Our investment in Canater reflects our confidence in its leadership team and their ambitious vision to empower local companies to compete on an international scale.'
Khamis Soliman (Kash), founder of Canater, expressed optimism about the partnership, saying, 'This investment marks a significant leap for us. With Foras' support, we will be able to accelerate our growth and enhance our technological capabilities to deliver more innovative solutions to our clients. Our goal is to become the preferred partner for manufacturers in the region seeking to expand their businesses globally.'
With this investment, Canater aims to strengthen its market presence, expand its services to multiple sectors, and further develop its digital platform to offer a more comprehensive and seamless experience for its clients. Additionally, the company plans to enhance collaboration with government and regulatory bodies across various countries to streamline export processes and enable manufacturers to access new markets more easily.
This deal heralds a new chapter of growth and innovation in the region's technology and logistics sectors. Canater is poised to play a pivotal role in empowering manufacturers to achieve their global expansion ambitions, while Foras solidifies its position as a strategic investment partner for visionary startups.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Bawaba
3 days ago
- Al Bawaba
Moro Hub Awards Green Certificate to Imperium Software Technologies for Sustainable Cloud Hosting
Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), has presented a Green Certificate to Imperium Software Technologies for adoption of sustainable tech solutions hosted on Moro Hub's Green Cloud. The award was officially presented by Sultan Al Ali, Director of Digital Business at Moro Hub to Sanju Sambasivan, Director of Sales at Imperium Software Technologies.'At Moro Hub, we believe in accelerating digital transformation that aligns with the UAE's environmental goals. Our Green Cloud is designed to deliver high availability and robust infrastructure and minimize environmental impact. By awarding this Green Certificate to Imperium Software Technologies, we acknowledge their progressive approach toward sustainability and applaud their leadership in integrating eco-conscious practices into their core operations,' said Mohammad Bin Sulaiman, CEO of Moro utilising Moro Hub's Green Cloud services, Imperium Software Technologies has been able to optimize its data operations while simultaneously reducing its carbon footprint. This initiative is part of the broader push across industries to decarbonize operations without compromising on performance or reliability. Through this collaboration, Imperium Software Technologies is projected to save approximately 43,969 KgCO₂e of carbon emissions during the hosting period from March 1, 2022, to May 31, 2027.'As a forward-thinking technology provider, sustainability is a fundamental pillar of our long-term growth strategy. Moro Hub gives us the dual advantage of best-in-class hosting services and a significantly reduced carbon footprint. Receiving this Green Certificate is a recognition of our environmental efforts, and a testament to the strategic value of choosing the right partners who share our vision for a greener tomorrow,' said Sanju collaboration reflects a growing trend among leading enterprises in the UAE and beyond, where sustainability and innovation go hand-in-hand. Moro Hub's Green Cloud is built with the latest energy-efficient technologies, offering enterprises a secure and eco-friendly hosting environment. This recognition further solidifies Moro Hub's position as a key enabler of sustainable ICT infrastructure in the region, supporting clients from various sectors in their journey to digital maturity while ensuring compliance with environmental best practices.
Al Bawaba
3 days ago
- Al Bawaba
Aldar and Dubai Cares expand education partnership to support students and schools across the UAE
In a powerful reaffirmation of their longstanding partnership, and in line with the UAE's declaration of 2025 as the Year of Community, Aldar and Dubai Cares are once again joining forces to support students and schools across the UAE through the Volunteer Emirates programme. Building on the momentum of last year's successful edition, Back to School 2025 will take place on August 15, 2025, at Nabdh Alfalah in Abu Dhabi, where 300 volunteers will come together to pack 10,000 school kits. These kits will be distributed to students from low-income families across the UAE, ensuring they begin the academic year equipped with the tools, confidence, and support they need to thrive. This impactful activation embodies the shared vision of Aldar and Dubai Cares to empower communities and promote inclusive and quality addition, Aldar will sponsor the refurbishment of a not-for-profit school in the capital in 2025, the first such initiative to be undertaken by Dubai Cares in Abu Dhabi. This builds on the successful refurbishment of the National Charity School for Girls in Dubai earlier this year, which significantly enhanced the school's learning Al Maflahi, Executive Director of Sustainability & Community Outreach at Aldar, said: 'At Aldar, we believe that access to quality education is the cornerstone of a thriving society. Our continued collaboration with Dubai Cares reflects our commitment to creating inclusive communities where every child has the opportunity to learn and succeed. 'Given the impact of last year's 'Back to School' event and the success of the refurbishment work at the National Charity School for Girls in Dubai, we are excited to continue our support of students in the UAE who need it most. This partnership not only supports education but also strengthens the spirit of volunteerism and collective responsibility across the UAE.'Abdulla Ahmed Al Shehhi, Chief Operating Officer, Dubai Cares, commented that:' We are sincerely grateful to Aldar for their continued support and generous contribution, which is enabling us to equip thousands of students across the UAE with essential school supplies and enhanced learning environments. This partnership embodies the spirit of the UAE's 'Year of Community' by demonstrating how the private sector can work hand-in-hand with civil society to create lasting, meaningful impact. Together, we are ensuring that every child starts the school year with dignity, confidence, and the tools to thrive.' Both initiatives are part of Dubai Cares' flagship Volunteer Emirates programme, which mobilizes the UAE community year-round to donate their time and efforts in support of the education sector. With a total contribution nearing AED 1.5 million in 2025 alone, Aldar's support for Volunteer Emirates underscores its strong commitment to corporate social responsibility and long-term community investment.
Al Bawaba
3 days ago
- Al Bawaba
Emirates makes changes to safety rules for customer usage of power banks onboard
Using any kind of power bank is prohibited onboard Emirates' flights, effective from the 1October 2025. A power bank is a portable, rechargeable device primarily designed to provide power to other electronic devices such smart phones, tablets, laptops and cameras. Emirates customers are still permitted to carry one power bank onboard with specific conditions listed below, but the power banks may not be used while in the aircraft cabin – neither to charge devices from the power bank, nor to be charged themselves using the aircrafts' power new regulations include:Emirates customers may carry one power bank that is under 100 Watt banks may not be used to charge any personal devices a power bank using the aircraft's power supply is not power banks accepted for transport must have capacity rating information banks may not be placed in the overhead stowage bin onboard the aircraft and must now be placed in the seat pocket or in a bag under the seat in front of banks are not permitted in checked luggage (existing rule).Why is Emirates making this change?After a comprehensive safety review, Emirates is taking a firm and proactive stance to mitigate risk when it comes to power banks onboard. There has been a significant growth in customers using power banks in recent years, resulting in an increasing number of lithium battery-related incidents onboard flights across the wider aviation banks primarily utilize lithium-ion or lithium-polymer batteries, and their function is as a portable battery pack designed to recharge devices on the go. The batteries contain lithium ions suspended in an electrolyte solution. The ions flow through the electrolyte, travelling back and forth between two electrodes as the battery charges and discharges. If the battery is overcharged or damaged, it may result in 'thermal runaway.' Thermal runaway in batteries is a self-accelerating process where heat generation within a battery cell exceeds its ability to dissipate heat, leading to a rapid and uncontrollable temperature increase. This can result in dangerous consequences like fire, explosions, and the release of toxic phones and sophisticated lithium battery-powered devices have an internal trickle system which slowly adds current into the battery to prevent overcharging, but many basic power banks may not have this safeguard, increasing the risk. All power banks are subject to the new rules onboard new regulations will significantly reduce risks associated with power banks by prohibiting their use while onboard the aircraft. Storing power banks in accessible locations within the cabin ensures that in the rare event of a fire, trained cabin crew can quickly respond and extinguish the fire. Safety is one of Emirates' core values, and a cornerstone of all operations and practices. Emirates is committed to maintaining and improving levels of safety on an ongoing basis, safeguarding customers and staff at all times.
