Yumamia, a Cairo-based food tech startup has announced that they have raised $1.5 million in a pre-series A investment round led by Pure Consulting, a leading Saudi boutique consulting firm.
With this funding round, the startup brings its total funding to date to $2.8 million.
The financing will be used to fund Yumamia’s expansion to KSA as well accelerate growth in Egypt.
"Pure Consulting is a very strong strategic partner that will help Yumamia penetrate the Saudi market," said Belal El Borno, CEO of Yumamia.
Yumamia revealed in March 2018 that it had received an equity investment from TV celebrity Chef Manal Al Alem. At that time, the startup’s funding stood at $1.3 million.
Since officially launching its new app in January 2017, Yumamia has experienced double-digit monthly revenue growth, the company said.
Founded in 2014, Yumamia is a food/tech startup that offers corporates an innovative corporate catering solution. It helps existing F&B establishments to monetize their resources by outsourcing food preparation operations, helping them increase revenues and profits through a franchise model.