Egyptian venture capital firm, Algebra Ventures, is backing Cairo-based elmenus with $1.5 million for the food discovery startup’s Series A round. As part of the deal, Ziad Mokhtar, Algebra’s Managing Partner, is taking a seat on elmenus’ board. Further terms of the transaction were not disclosed.
The capital will be used by elmenus to develop additional features and functionality for its platform, thereby improving the experience of its users and making it easier for them to order food online more easily. The platform aims to be the comprehensive source of information in restaurants in Egypt for diners, featuring genuinely user-generated images and reviews to help users make their dining decisions.
According to Disrupt Africa, an online venture capital news source, elmenus has only raised $60,000 of external capital until this round. The firm was started by its founder and CEO, Amr Allam, with $3,000, inspired by his difficulty in keeping up with Egypt’s rapidly expanding restaurant scene.