Tech in Africa
A Cairo-based food startup, Mumm has received a pre-series A capital injection from Alex Angels. The capital infusion will ensure it keeps growing throughout the COVID-19 pandemic.
The online platform was founded in 2015 by Waleed Abd El Rahman to deliver homemade food to customers. Mumm initially began as a meal subscription service tailored to corporates before and SME enterprises.
The service provides companies with discounted rates on meals for their employees. Any company that partners with Mumm will see its employees receive regular food deliveries once they subscribe. Employees can make a month-long pick or make a custom pick every morning.
The founder-CEO of Mumm, Waleed Abd El Rahman, was upbeat over their investment in distributed kitchen networks. He was grateful for the investment despite the uncertain public health crisis creating uncertainty.
Tarek Nasr, an investor at Alex Angels, was content with their new investment in the wake of the COVID-19 crisis. He challenged startups and innovators to come up with solutions that help society “maintain” normal life.
Investors are shying away from investing given the uncertainty, however, with great tragedy there always lies hidden opportunity. In 2017, Mumm raised a seed investment of $200,000. The amount came from 500 startups.
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