Egyptian Foodtech Startup, Yumamia, Raises $1.5 Million In Pre-Series A From Saudi Firm
The startup should be starting its Saudi operations later this year.
Slowly but surely approaching their plans to expand to the vast food market of Saudi Arabia, Egyptian foodtech startup, Yumamia, just raised around $1.5 million for it’s pre-series A from Saudi consultancy firm, Pure Consulting, that makes their total investments a total of $2.8 million.
The food-delivery app has been making waves in the foodtech ecosystem since its launch in 2014 and initially provided home-made food, but it has shifted its model to offer a premium service. "We are partnering with chefs and F&B establishments in order to get premium food, and to improve consistency,” Yumamia's co-founder Belal El Borno told Startup Scene earlier.
Yumamia's plans to expand to Saudi Arabia dates back to 2017, when they raised $200,000 from Saudi-based Faden Media along with French multinational Publicis Group. Moreover, Saudi Arabia has been an attractive market for some Egyptian startups. Earlier this month the Egyptian digital marketplace for car parts, Odiggo, also raised a 6-figured dollar investment to expand its operations to Saudi.
