Egypt’s Elmenus raises US$1.5 million to out new features
Egyptian online food discovery platform, Elmenus has raised US$1.5 million from Algebra Ventures in a Series A funding round to build new features and take on the big players in the digital food space.
The startup houses a myriad Egyptian restaurants on its platform in order to help people easily discover the best place to eat. Simply, Elmenus‘ aim is to help people make better dining decisions.
Since launch in 2011, the startup has served over 1 million users on a monthly basis. It has over 5,000 restaurants on its platform and is available in 9 major cities in Egypt – Cairo, Alexandria, El Mansoura, Sharm El Sheikh, Hurghada, El Gouna, El Ain El Sokhna, Ras Sudr, North Coast.
This fresh funds will go towards building new features including an online ordering service and an AI powered recommendation engine to better personalize each user’s experience, and for expansion.
Ziad Mokhtar, managing partner at Algebra Ventures, the largest venture capital fund in Egypt which specifically makes Series A/B/C investment in Egyptian tech startups, will join Elmenus board of directors.
“With this investment, Elmenus is well-poised to grab a substantial stake in the digital food space which is dominated globally by the likes of Just Eat, Zomato, and Delivery Hero,” he said.