Egyptian food ordering startup Ordera has raised six-figure United States Dollars investment in a seed funding round, the company announced in a press release.
The company however did not disclose the actual amount invested. The funds were raised Alexandria Angels, Saudi-based venture capital Daal, and AUC Angels.
The fresh funds according to the startup will be used to grow the user base of the company and network of partners. Also, the fund will be use to expand to other parts of cities in Egypt.
Tarek ElKady, Founder & Chairman of Alexandria Angels, commenting on the investment, said, “Ordera is revolutionizing the food takeout industry. They have a great product that is needed by customers [and is] backed by a passionate & dedicated team. Their business continues to grow and expand rapidly and firmly, and we’re proud to have them among our portfolio companies.”
Abdulrahman Alqahtani, CEO of Daal, said, “The condition of F&B and retail markets have changed dramatically after Covid-19. Innovative startups are those who see the opportunity and provide real solutions for business. This is how we valued the opportunity in Ordera. Technology, sustainable business model, and scalability potentials are the factors that drove our attention. With the right and ambitious team in place, we highly believe in the success story that we can build together.”
Started by Karim Abdel Kader, Noha Bassiouny, and Abeer Mostafa in 2018 Ordera enables users of the platform to order for food from restaurants without waiting in a queue. The app also has a payment section where customers make payments of their order so that when they arrive at the food joint they just pick up the food.