The investment comes as part of Mumm’s ongoing pre-series A funding.
Food delivery services are proving capable of not only rising above the fray of the ongoing crisis, but thriving as a result. One example of the renewed interest in the industry: Egyptian food-tech startup Mumm has just raised an undisclosed pre-series A funding from Alex Angels.
The Cairo-based food delivery service first made waves when it launched in 2015 with its unique concept, empowering predominantly female partners to make a profit directly from their kitchens. Cairene women and refugees cook healthy meals at home and sell them through Mumm, earning money without the need for marketing or starting entire businesses on their own.
Last year, Mumm capitalised on their potential for office life, launching the Mumm Office Club for corporates and SMEs, enabling partner companies to offer nutritious meals at discounted rates to its employees, a sector they continue to target even as many work from home.
“Given the distributed network of kitchens we have built through the past years,” said Waleed Abd El Rahman, founder and CEO of Mumm. “Today, we are well situated to grasp the opportunity of increased demand on food delivery whether to consumers today or to offices when teams are back to their work premises.”
“The current situation the whole world is witnessing, due to COVID-19, is an opportunity for startups to come up with solutions that can help people maintain their normal lives,” said Tarek Nasr from Alex Angels. “Even though it is risky for investors to put more cash into seed-stage companies in these times, certain sectors will find opportunities to thrive if they can stay afloat during these tough times and we believe Mumm is well situated to strive.”
Find out more about Mumm here.
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