CarniStore, a UAE-based digital-first premium protein platform, has secured a $12.2 million strategic minority investment from Emirates Growth Fund (EGF), according to an official announcement via Wamda. The funding marks a significant step in the company’s growth as it looks to expand operations and strengthen its position in the regional food sector.
Founded in 2018 by Daniel Wanies and Fikry Boutros, CarniStore operates a vertically integrated premium butchery and protein platform spanning meat, seafood, poultry, and smoked products. The company combines sourcing expertise, proprietary production, and digital retail to deliver high-quality products to consumers across the UAE.
The investment will support industrial scaling, the development of new product verticals, and regional expansion. The company is also aiming to advance toward institutional readiness as it grows its operational footprint and customer base.
Emirates Growth Fund, the UAE’s flagship growth equity investor, is making its first investment in the food sector through this transaction. Beyond capital, EGF will work closely with CarniStore’s leadership to enhance governance, refine go-to-market strategies, and build institutional capabilities. The partnership aligns with EGF’s broader mandate to back high-potential UAE businesses and help develop them into long-term national champions.
CarniStore has established itself as a notable player in the UAE’s premium protein market, blending traditional butchery expertise with a digital-first, consumer-driven approach. The company’s leadership believes the new investment will enable it to scale while maintaining its quality standards and brand identity.
KEY QUOTES:
“EGF’s investment in CarniStore reflects our mandate to support high-potential UAE businesses within the ‘missing middle’ through strategic capital and active partnership. We remain actively deploying, consistent with our long-term mandate to back strong UAE businesses, by working alongside them as they execute on their growth ambitions. Beyond just investing growth equity, we work with founders to strengthen go-to-market, governance and institutional capability. 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.”
Khalifa Al Hajeri, CEO of Emirates Growth Fund
“This partnership with EGF feels like a natural next step in our journey. We share a belief in building strong, homegrown businesses with a long-term vision and real foundations. From day one, our focus has been on raising the standard for quality proteins while supporting the UAE’s growing food community. Together, we’re excited to keep building, to reach more people, and to shape how meat is sourced and experienced, starting here at home.”
Fikry “Fix” Boutros, Co-CEO & Co-Founder of CarniStore
“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. It’s an important step forward and a reminder that a UAE-born brand can lead internationally, not simply participate.”
Daniel “Dan” Wanies, Co-CEO & Co-Founder of CarniStore
