A UAE start-up selling excess food from cafes, restaurants and grocery shops at discount prices is aiming to tackle waste and help ease the rising cost of living.
Peekaboo, which launched its app this week, connects consumers with end-of-day surplus from more than 1,000 shops belonging to brands such as Costa Coffee, Tim Hortons, Carrefour, Pret a Manger, Krispy Kreme, Dunkin', Eataly, Laduree, Armani Cafe, Paul and Choithrams.
Items are offered at between 50 and 70 per cent below retail price.
The UAE's national food loss and waste initiative, Ne'ma, has set a target to halve food waste by 2030, in line with the UN sustainable development goals.
Ne'ma has said nearly 40 per cent of food is wasted in the UAE each year, at a cost of Dh6 billion ($1.63 billion).
Food for thought
The idea came to Hasan Sarwar, 26, co-founder and chief executive of Peekabox, during a late night at a Dubai cafe.
“I went to the pastry section and every single thing was on display,” he told The National. “This was 11pm and I asked the staff, ‘What do you do with these items?’ They said every single thing is thrown out and then [more is] remade the next morning.”
Mr Sarwar, who previously worked in investment banking in Dubai, started the company around a year ago alongside his brother Omair, also a former investment banker.
The model allows restaurant and grocery partners to list their surplus on the app at the end of each trading day. Consumers can then browse items available from nearby shops, reserve them, pay through the app, and collect them within a designated window.
The app has attracted a roster of leading food-and-beverage operators since Mr Sarwar began building out the partner network. Alongside individual brands, Peekabox has signed franchise groups including Majid Al Futtaim, Apparel Group, Azadea, Americana, Cravia and Emaar Hospitality. The company has also closed a $1.5 million seed round.
“We ended up getting every single really large franchise group and brand in the region behind this, because ultimately they support the mission and it's an industry-felt problem,” Mr Sarwar said.
High-level backing
Peekabox has assembled an advisory board drawn from some of the region's most prominent business figures. Dr Sameer Al Ansari – former chief financial officer of Sheikh Mohammed bin Rashid's Executive Office and founder of Dubai Holdings – is now founding chairman.
The advisory bench features Fares Akkad, chief executive of Meta MEA; Yasser Abdulmalak, chairman and chief executive of Nestle Mena; Iyad Malas, group chief executive of Al Ghurair Group; and Alain Bejjani, former chief executive of Majid Al Futtaim Holding.
Mr Al Ansari said he was drawn in quickly. “It's very rare that you come across a concept, a project that ticks all the boxes and a proven concept for that,” he told The National.
“This is not the first time that something like this has been done. It's been done in other countries very successfully but the UAE really needs it more than anywhere else,” he said. Similar platforms have gained significant traction in Europe, with apps such as Too Good To Go operating across more than 20 countries.
Mission to cut food waste
The price dimension is central to the pitch to consumers. With food costs forming a significant part of household budgets in the UAE, the discount model positions Peekabox as both a practical savings tool and a sustainability project.
Mr Al Ansari said: “The UAE, I think, has one of the highest food-wastage numbers per capita in the world. So if we can put a little dent in that in the future, then we've already done something great.”
Among those who have backed the company financially is Hani Weiss, chief executive of Max Fashion and former chief executive of Carrefour Grocery in the Middle East, Africa and Central Asia.
“It took me seconds to say 'yes,'” Mr Weiss said of his decision to invest. “As a former CEO of a grocery business, I have faced so many challenges with food waste. It was a main concern for us across all the countries, especially here in the UAE.”
The founders are already looking beyond the Emirates. Mr Al Ansari said the platform's technology is designed to travel. “Peekabox can go very far and it's very scalable, and can start in the UAE and grow to other countries in the region,” he said. The scope could also broaden beyond prepared food and groceries. Perishables, including flowers, have also been discussed as potential additions.
For now, the focus is on a country that throws away billions of dirhams' worth of food each year – and a consumer base increasingly feeling the pressure of high living costs. “What’s better than a discount at the end of the day?” said Mr Weiss.
