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Wednesday, 26 July 2017

US VC outfit invests USD 200k in Egyptian online food delivery platform Mumm

INVESTMENT WATCH- Silicon Valley-based VC fund 500 Startups invested USD 200k in Egyptian online food delivery platform Mumm, Al Mal said on Tuesday. Mumm is an online portal that sells home-cooked meals prepared by local housewives and refugees. Mumm aside, 500 Startups picked eight other MENA-based startups to invest in through its 500 Falcons early-stage fund. The VC firm had said in 2015 that it would invest USD 30 mn in MENA through 500 Falcons.

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