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Tuesday, 4 February 2020

Egyptian food-tech startup Elmenus raises USD 8 mn in series B round

STARTUP WATCH- Elmenus raises USD 8 mn in Algebra, Global Ventures-led series B funding round: Cairo-based food-tech startup Elmenus has raised USD 8 mn in a series B funding round led by our friends at Algebra Ventures and UAE-based venture capital fund Global Ventures, according to an emailed statement (pdf). Investors Tarek Sakr and Hamad Al Homaizi, who partially exited Kuwait-based classifieds platform 4Sale, also participated in the round. Elmenus also raised USD 1.5 mn from Algebra back in 2017, which was at the time one of the largest series A rounds in Egypt. The company was founded in 2011.

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