Algebra Ventures invests $1.5M in Egyptian food discovery platform Elmenus

Elmenus, one of the largest Egyptian food discovery platforms, received a $1.5 million investment in a Series A funding round from Algebra Ventures, Egypt’s largest venture capital fund.

Elmenus, founded by Amir Allam, started as a tool to find the best dining option. Up until now, Elmenus had only raised $60,000 in outside funding, nonetheless they have achieved widespread success across Egypt.

Now, the platform features over 5,000 restaurants, Allam said this was possible because they had “crafted a hyper targeted set of ad tools that help restaurants of all sizes target their exact customers, supported by deep behavioral data analytics.”

Elmenus’ objective is to  deliver comprehensive information on all restaurants in Egypt, via user generated photos and recommendations. The platform has already a million monthly users and is seeking to expand.

The newly acquired funding will go towards building new features such as an online ordering service and an AI powered recommendation engine to better personalize each user’s experience.

Ziad Mokhtar, managing partner at Algebra Ventures, will be joining Elmenus’ board of directors. Mokhtar said: “With this investment, Elmenus is well-poised to grab a substantial stake in the digital food space which is dominated globally by the likes of Just Eat, Zomato, and Delivery Hero”.

 

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