Mohamad Ballout
Honours
The story
Mohamad Ballout is of Lebanese origin and was born and raised in Dubai. At 21 he co-founded BMB, a confectionery manufacturer, with his brother Bilal, and sold his stake in 2017. He then became an investor looking at the restaurant sector. He wondered whether food brands could do with kitchens what candy brands do with factories, licensing their products to them. That idea became Kitopi, founded in Dubai in January 2018 with Saman Darkan, Bader Ataya and Andres Arenas, running kitchens for restaurant brands so they did not need their own. In July 2021 Kitopi raised $415 million in a Series C led by SoftBank Vision Fund 2, taking its valuation above $1 billion. As the model grew complex, Kitopi began buying brands instead, including Right Bite and, in 2023, AWJ, the group behind Operation Falafel. It now runs more than 200 locations across five Gulf markets.
By the numbers
Appearances
On Founding MENA
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