500 Startups invests $200, 000 in Egyptian food delivery startup Mumm
Recently closing a US$15 Million fund investment in May dedicated to the MENA, 500 Startups has invested in as Egytpian food Delivery startup Mumm, that allows consumers to sell home cooked meal. “We are currently growing our team of high calibre young people as we expand our business. We will continue to build an organisational environment that is full of learning, and one that challenges the team to achieve more so we can realise our full potential,” said founder Waleed Abdel Rahman.
Mumm – which was recently recognised by the World Economic Forum (WEF) as one of 100 top startups in the region and previously raised funding from Egyptian VC firm A15 last year, is now a beneficiary of that fund.
“Mumm tackles the intersection of issues faced in Egypt and other markets whereby the cost of a healthy and convenient meal for the bulk of young employees has become prohibitive. Not only do we believe that Mumm will help corporate employees eat healthier and be more productive, we are keen on empowering women and providing a means to independence and job security for them,” Sharif El-Badawi, partner at 500 Startups, added.
