The young Egyptian start up Mumm has secured a capital injection of USD 200,000 from the US-based accelerator 500 Startups. It will use the funding to hire new talents and to increase its customers’ portfolio.
Mumm, which was recently announced as one of the leading 100 startups in the MENA by the World Economic Forum, sells home-made meals to customers. It offers quick payment methods and fast delivery. The next big step in front of it is launching a B2B solution.
Waleed Abdel Rahman, the founder of Mumm, commented:
We are currently growing our team of high caliber young people as we expand our business. We will continue to build an organizational environment that is full of learning, and one that challenges the team to achieve more so we can realize our full potential.
Sharif El-Badawi, a partner at 500 Startups, said he was proud to become a part of the Mumm’s success. He added that the app would help busy young professionals eat healthy and clean food. El-Badawi also pointed out that the accelerator was interested in empowering women and provide job security and independence for them as well.
Earlier in the spring, 500 Startups announced the first closure of its USD 15 million funds, 500 Falcons, focused on the MENA region. It planned to raise USD 30 million and spread them between 100-150 local companies.