Savola Group establishes CVC arm with two investments
Savola Group establishes CVC arm with two investments Saudi Arabia-based food and retail conglomerate Savola Group has established a corporate venture capital (CVC) arm and has completed two investments so far this year. The first was in UAE-based Lyve, formerly One Click Delivery Services, in which Savola led in its Series B investment round. The second was the full acquisition of Saudi- based e-grocery pureplay, Lilbab, Panda Retail Company, which was rebranded as PandaClick in 2020. The transactions were funded from internal cashflows and the amount of investments were undisclosed. The com...
Source: wamda.com