CarniStore, a UAE-based premium meat and e-commerce brand, has secured a $12.2 million (AED 45 million) strategic minority investment from the Emirates Growth Fund (EGF). The capital injection marks EGF’s first transaction in the food sector, signaling an intent to back local F&B operations capable of scaling into regional category leaders.
Quick Facts
- Raised $12.2 million (AED 45 million) in minority investment.
- Backed entirely by UAE flagship investor Emirates Growth Fund.
- Capital drives industrial scaling, new verticals, and regional expansion.
Driving Institutional Scale in the F&B Sector
Founded in 2018, CarniStore has built a highly engaged consumer base by combining traditional butchery practices with a digital-first retail channel. The platform manages sourcing, proprietary production, and direct-to-consumer online distribution for meat, poultry, seafood, and smoked products.
The fresh $12.2 million injection will transition the brand from a localized startup into an industrial-scale operation. Funds will be deployed to launch new product categories and execute broader regional market penetration.
As an active strategic partner, EGF will work directly with the founding team to optimize go-to-market strategies, strengthen corporate governance, and build the institutional capabilities necessary to handle rapid cross-border growth.
Backing Homegrown UAE Champions
The investment aligns directly with national economic priorities surrounding food security, supply chain independence, and the development of robust local businesses. EGF specifically targets the “missing middle”—agile Emirati SMEs that demonstrate the traction required to become enduring institutional entities.
Khalifa Al Hajeri, CEO of Emirates Growth Fund, emphasized the firm’s mandate to deploy strategic capital alongside hands-on operational support.
“Beyond just investing growth equity, we work with founders to strengthen go-to-market, governance and institutional capability,” Al Hajeri stated. “CarniStore exemplifies the entrepreneurial grit and quality standards we seek in homegrown companies with the potential to evolve into enduring national champions in their industries.”
Balancing Growth With Premium Quality
Scaling a specialized F&B operation demands rigorous quality control, a dynamic CarniStore’s leadership aims to protect as production volumes multiply.
Fikry “Fix” Boutros, Co-Founder and Co-CEO of CarniStore, framed the investment as a critical step in building strong national companies on solid foundations. “From day one, our focus has been on raising the standard for quality proteins while supporting the UAE’s growing food community,” he said.
Daniel “Dan” Wanies, Co-Founder and Co-CEO, added that the operational backing ensures growth will not dilute the brand’s core value proposition.
“EGF’s strategic backing allows us to scale CarniStore with real intention, growing our operations and developing new products while protecting the premium quality and service our customers rely on,” Wanies noted. “It’s an important step forward and a reminder that a UAE-born brand can lead internationally, not simply participate.”
About CarniStore
Launched in 2018 by Daniel Wanies and Fikry Boutros, CarniStore is a UAE-based premium protein platform. By merging expert butchery with a modern e-commerce infrastructure, the company manages the end-to-end sourcing, production, and retail of high-quality meats, catering directly to the UAE’s growing consumer base for specialty food products.
Source: Wamda
