Egypt-based food-tech startup Ordera, a mobile application focusing on enhancing the pick-up and drive-thru experience in the food and beverage industry, has announced the closure of its six-figure seed round.
The food-tech startup aims to utilise the funding to expand their business model and product
Karim Abdel Kader, CEO at Ordera expresses his elation in receiving the seed funding and explains that the startup plans to expand their business.
“We are very excited about this significant milestone in the journey of Ordera. The investment will help us increase both our customer and vendor bases, expand to other cities and add more features to our product to serve a wider segment of users”
In a press statement, Ordera states that the six-figure seed funding was received from Alexandria Angels and AUC Angels in Egypt and DAAL VC from Saudi Arabia.
Abdulrahman Alqahtani, CEO at DAAL comments on the announcement.
“Post COVID, F&B, and retail markets’ conditions changed dramatically. Innovative startups are those who see the opportunity and provide real business solutions. This is how we valued the opportunity in Ordera. Technology, sustainable business model, and scalability potentials are the factors that drove our attention. With right and ambitious team in place, we highly believe in the success story that we can build together”
Founded in 2019, Ordera is considered among the first food-tech startups that are focusing on the pick-up experience in the F&B sector in Egypt.
It is also the first food ordering application with a built-in loyalty program in the country.
Officially launched last year by Karim Abdel Kader, Noha Bassiouny, and Abeer Mostafa, Ordera has signed partnerships with market leaders in the industry and closed deals with more than 150 venues to-date. The innovative food-tech startup aims to eliminate the waiting factor and the need to carry a wallet.
The company witnessed exponential growth in number of restaurants and outlets that signed new partnerships and opened its services for contactless pick-up and the drive-thru experience.
Due to the impacts of Covid-19, Ordera has reported an increased surge in the number of users ordering food and beverages via their app.
Tarek ElKady, Founder & Chairman of Alexandria Business Angel Network comments on investing in Ordera.
“Ordera is revolutionizing the food takeout industry. They have a great product that is much needed by customers, backed by a passionate & dedicated team. Their business continues to grow and expand rapidly and firmly, and we’re proud to have them among our portfolio companies” said Tarek ElKady, Founder & Chairman of Alexandria Business Angel Network
The Ordera application is simple and easy to use as users are able to pay for their orders before arriving at the outlet of their choice. The Ordera service eliminates the need for customers to wait in long queues and promotes social distancing. In addition, users can opt to have their ordered items delivered to their vehicles.
In this episode of GFA-Attract, we discuss with Kennedy Mubita, Nairobi based Venture Capital Lead for Africa & Middle east at SC Ventures, the venture capital arm of Standard Chartered Bank. SC Ventures is a $100 million fund focused on FinTech investments.
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