Egypt's Food Discovery and Ordering Platform ElMenus Scores $8 Million
ElMenus plans to invest heavily in their personalisation feature to reach maximum customer satisfaction and retention.
Egypt's leading food-tech startup ElMenus just raised $8 million in its Series B funding round led by the UAE-based Global Ventures and Egypt's biggest tech VC Algebra Ventures, with participation of Tarek Sakr and Hamad Al Homaizi.
"We are using the investment to dominate the food delivery space in Egypt by expanding our fleet's coverage to all cities in Egypt," ElMenus' CEO and Co-founder Amir Allam tells Startup Scene, adding that the startup is also investing heavily in their dish recommendations based on user behaviors and tastes, as they get closer to answering the existential "What will I eat today" question.
“We have been able to grow the market in Egypt and accomplish great milestones very efficiently," adds Allam, the founder of ElMenus. "We are excited about what we will do with this additional funding and the support of Global Ventures coming on board as we continue to scale across Egypt and help millions of more users to discover and order the food they will love."
Having previously raised $1.5 million in Series A funding from Algebra Ventures in 2017, ElMenus has achieved rapid success launching online ordering operations and recently its own fleet service, scaling from 20 to 200 employees in less than 10 years.
“With their first raise of $1.5 million, ElMenus proved our original investment thesis that a strong local player with a broader offering can have disproportionate achievement. The company has unique efficiencies and this round could be enough to secure its leadership in the rapidly growing digital market in Egypt," says Ziad Mokhtar, Managing Partner at Algebra Ventures.
