Yemen’s Tawseel raises investment from Numu Capital
Yemen-based food delivery startup Tawseel has secured investment from Numu Capital, a Dubai-based early-stage venture capital firm, the startup said in a statement.
Founded in 2022 by Abdulhamid Thaiban, the startup aims to build a one-stop app for local restaurants to process online orders by users in tier-1 cities across the country.
Jamal Al-Mutarreb, the managing director of Numu Capital, commented: “Most of our investments have been historically in [the] GCC and Egypt, and we frankly didn’t expect to meet a startup as sophisticated as Tawseel in Yemen given the current economic situation."
"The quality of the product they built, their advanced operational processes, and their localised marketing strategies helped us reach a conviction that the Tawseel team will reach their ultimate vision to become the Super App of the Yemeni market," he added.
With the recently acquired capital infusion, Tawseel will be able to expand its operations in its home market.