Cairo-based food ordering platform, Elmenus, has raised $8 million in its Series B funding, led by UAE-based venture capital fund, Global Ventures and Egypt-based Algebra Ventures.

Tarek Sakr and Hamad Al Homaizi, Kuwait’s 4Sale co-founders, who recently partially exited their startup to NBK Capital, also participated in the Series B funding.

Elmenus personalises food recommendations on its online food ordering platform. Started by Amir Allam  in 2011, the company raised $1.5 million in its Series A funding from Algebra Ventures in 2017.

Following the Series A funding, Elmenus started its own delivery fleet service, and has expanded its team from 20 to 200 employees.

‎“We have been able to grow the market in Egypt and accomplish great milestones very efficiently. We are excited about what we will do with this additional funding and the support of Global Ventures coming on board as we ‎continue to scale across Egypt and help millions of more users to discover and order the food they will love,” Allam said.

According to MENAbytes, Elmenus currently delivers more than 10 percent of their orders using their own fleet and expects this number to go beyond 50 percent of their orders in the next six months. “It is a significant number, given how many orders we process every month,” MENAbytes quoted Allam as saying.

According to Allam, the online food delivery space is an untapped market in Egypt, where only 4 percent of total food delivery orders are currently processed online, and the main competition is with phone orders.

Elmenus is serving over 1 million users across Cairo through its website and mobile apps.

The new funding will be used to expand the reach of its fleet and further personalise food recommendations for users to make better dining decisions.

(Writing by Seban Scaria seban.scaria@refinitiv.com, editing by Anoop Menon)

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