Cairo - Mubasher: The Food Lab (TFL), the first cloud kitchen services operator in Egypt, has secured $4.5 million in the pre-seed fundraising round.
Co-led by Nuwa Capital, Shorooq Partners, and 4DX Ventures, the round has attracted investors from across the world, including Saudi Arabia- based Al Faisaliah Group and Abdul Majeed Al Hokair, according to a recent press release.
Japan’s Samurai Incubate has also participated in the fundraising round.
With more than 50 local champions and international brands, TFL was founded by Egyptian entrepreneurs Kareem El-Daly, Ahmed Osman, and Wesam Masoud in 2020.
The Founder and President of The Food Lab, Kareem El-Daly, said: "Our mission is to bridge the gap between restaurants and consumers, and by building technology infrastructure, we are enabling the transformation of Egypt’s Food and Beverage (F&B) industry."
Meanwhile, the Venture Lead of Nuwa Capital, Ghassan Noursi, commented: "The Food Lab is offering restaurant owners a solution to the problems posed by the country's recent trend of de-urbanization, which makes it very difficult for a restaurant to reach any meaningful percentage of a given population."
