CarniStore secures US$12.2M investment to expand premium protein business
Funding to support expansion, new product lines, and operational scale
UAE – CarniStore, a United Arab Emirates-based online premium protein retailer, has received a US$12.2 million minority investment from Emirates Growth Fund to accelerate its expansion and operational capacity.
The deal gives the investor a minority stake while providing capital to increase production capabilities and extend the company’s footprint across regional markets.
Founded in 2018 by Daniel Wanies and Fikry Boutros, CarniStore operates a vertically integrated model that combines sourcing, in-house processing, and direct-to-consumer digital sales across meat, poultry, seafood, and smoked products.
The company has positioned itself within the premium segment by focusing on product quality and a digital-first retail strategy that connects suppliers directly to consumers.
Expansion plans and operational scale
With the new funding, CarniStore plans to increase its industrial capacity, introduce additional product categories, and prepare its operations for larger institutional growth.
The company is also targeting geographic expansion beyond its current base to capture a larger share of the regional premium food market.
Emirates Growth Fund indicated that its role will extend beyond capital, with involvement in refining the company’s commercial strategy, governance structures, and internal systems as it grows.
The investor stated that the partnership aligns with its focus on supporting mid-sized companies with growth potential and helping them transition into more structured and scalable businesses.
Investor and founder outlook
According to Emirates Growth Fund Chief Executive Khalifa Al Hajeri, the investment reflects the firm’s approach of working closely with founders to improve execution and long-term performance.
CarniStore co-founder Fikry Boutros said the agreement reflects a shared objective of building a locally established business with long-term direction while expanding access to premium protein products.
Co-founder Daniel Wanies added that the funding will allow the company to expand operations and product development while maintaining its existing quality standards.
The transaction marks Emirates Growth Fund’s first investment in the food sector, as it continues to deploy capital into UAE-based businesses considered capable of scaling within and beyond the domestic market.
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