Egyptian Kitchen-to-Delivery Startup Mumm Raises $200,000 from Silicon Valley's 500 Startups
The startup led by Waleed Abdel Rahman was recently awarded by the World Economic Forum, and has been making waves since its launch, setting off to provide jobs for stay-at-home moms and refugee women.
Egyptian homemade food startup Mumm has just announced a $200,000 investment from 500 Startups, a major seed fund with the world-renowned accelerator programme, and one of the first since the launch of its MENA-focused fund. The startup, which is actually a recent graduate of their highly selective Doha Dojo accelerator course that ended in late May, secured the funds last month and now heads off to expand its team.
500 Startups recently launched its MENA fund, which finished its first closing at $15 million. The fund eventually aims for $30 million to be invested in the region’s rapidly-growing startup ecosystem. “The conversation with 500 Startups started a year ago at the Riseup Summit where I met with [500 Startups Partner] Sherif El-Badawi," says the startup's founder, Waleed Abdel Rahman.
The startup is one of the first of the 100-150 projected to secure investments from the 500 Falcons capital fund. The Doha Dojo program is planned to take place every year in Qatar, and four of the program’s nine total participants this year hail from Egypt, including Mumm. “It’s a highly selective programme and we were the youngest startup. We did it and got the investment right away; Sherif believed in us from day one,” continues the 32-year old CEO.
Consistently making headlines since its inception in 2015, the Cairo-based food delivery service banks off its unique concept, which empowers women in Egypt to make a profit directly from their kitchens. Cairene women and refugees living in the populous capital city cook healthy meals at home and sell them through Mumm. Its drivers deliver the meals, and the cooking partners earn money without the need for marketing or starting entire businesses on their own. Cooking is labour, and the partnership between Mumm and local women recognizes and quantifies the value of the work many women perform at home every day in their kitchens, who can earn up to EGP 6,000 a month through the service.
Earlier in 2016, Mumm closed its first investment round with Egyptian VC A15, and was recognized this year by the World Economic Forum asone of the region’s top 100 startups in the field of tech. “We want to be the first company to create a tech product focused on food at the office,” says Abdel Rahman, as he anticipates the launch of B2B solutions to bring nutritious food to companies and their employees, features which will develop with the help of Mumm’s latest investment.
Photos by @MO4Network's #MO4Productions.
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