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Egypt-based startup Yumamia receives follow on investment to raise $1.3m Series A
Funding 2 years ago - Wed, Mar 14, 2018, 6:25 AM
Cairo, Mar. 11, 2018—Yumamia,inc., one of the leading cairo-based food tech startups, announced today receiving a new equity investment from TV celebrity Chef Manal Al Alem, bringing their total funding to $1.3 Million to date.
The investment is part of an upcoming long-term partnership between Chef Manal & Yumamia. On top of the cash investment, Chef Manal is going to act as a brand ambassador for Yumamia as well as the culinary mastermind for their future menu development.
The financing will be used to fund Yumamia’s core menu development along with further expansion and diversification of its service in Egypt.
“I strategically chose to invest in Yumamia because I am a firm believer in the way technology will revolutionize the world of F&B. The innovative team at Yumamia created a new leading service of its kind and cleverly established that smart technology can be well utilized. I have always supported leading startups and invest in global food related applications. My investment in Yumamia is the beginning of a journey of success with new partners that have vast experience in the world of food technology and also modern management and I'm very happy about that” said Chef Manal Al Alem.
"We are very excited to have such an iconic figure in the F&B industry backing us up, Chef Manal Al Alem partnership is not only going to help us take Yumamia to the next level but it’s also a great validation to what we have achieved so far" said Belal EL Borno, CEO of Yumamia.