(Ecofin Agency) - Following an initial investment of $1.5 million made in 2017 in the food delivery platform, Elmenus, the venture capital firm Algebra Ventures is making a new commitment to the company.

Algebra Ventures, which targets early-stage technology companies in the Middle East and North Africa (MENA) region, has co-invested $8 million in Elmenus alongside the UAE-based venture capital firm Global Ventures and two angel investors.

The fund injection will enable Elmenus to broaden its network and strengthen its presence in the culinary sector in Egypt. “We are excited about what we will accomplish with this additional funding and the support of Global Ventures as we continue to expand across Egypt and help users discover and order meals,” said Amir Allam, Elmenus CEO.

Elmenus has nearly one million users per month and has partnered with 8,000 restaurants across the country. This new financial contribution brings to approximately $10 million the total amount of funds raised by the company to date.

Chamberline Moko