Wamda Weekly - 8 Dec 2022

Date: 08/12/2022

For Egyptians, ordering food from a local restaurant is nothing novel. The country’s restaurant market is thought to be worth $17 billion annually and while most orders are placed over the phone, online food delivery sales have been on the rise. The steady increase in the local market has led to the emergence of a new crop of cloud kitchens, among them Brito.

A critical part of any startup’s journey is fundraising. This can be challenging in the very early days of building your startup, before you have any real traction, metrics or even a launched product. That is why an increasingly popular method of early-stage funding is the convertible, the most common of which is the SAFE.

The success of restaurant bill payment startup Sunday in Europe, encouraged several startups in the UAE to follow suit and offer their own in-dining payment solutions. But with rising food costs and a more hesitant investment community, can these startups maintain their growth or is the market too small to sustain them all?

In case you missed it - here's our round-up from News Watch:

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Wamda Weekly - 8 Dec 2022

Revival Lab launches $40 million fintech-focused VC builder and fund

Iraqi delivery app Lezzoo acquires Saydo

Morni invests $10 million in Egypt to acquire mobility startups

UAE’s Cavendish Maxwell to acquire majority stake in Property Monitor

Calo raises $13 million pre-Series A round

Seedstars launches platform to develop VC managers in emerging markets

SIDEUP raises $1.2 million Seed, relocating HQ to Riyadh

OneOrder raises $3 million Seed

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Wamda Weekly - 8 Dec 2022

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