Egypt's BONBELL Receives $350K in Initial Seed Funding, Targets $10M Total Seed Funding
BONBELL, an Egyptian foremost mobile App in the Food-tech industry that specializes in food ordering and digital solutions for table and meal reservations, has announced a $350,000 seed funding round from a Canadian Angel investor. This will help further develop the App services and achieve a level of growth in terms of user count and daily orders.
The startup launched its App early this year to provide various food ordering services in Egypt. The App provides a variety of food ordering options, including food delivery, restaurant reservations, dine-in ordering via a QR Code on the table, and take-out services.
Furthermore, the App provides a variety of payment options, including cash and credit cards. BONBELL has collaborated with a variety of restaurants and cafes, as well as clubs such as Heliopolis Club and Smash Club.
It also provides its services in malls and cinemas to provide mall and cinema patrons with a more seamless food ordering experience, including table reservations and food delivery.
The startup has also strategically partnered with many leading major companies and institutions, most notably the German University in Cairo (GUC) and Raya Telecom, to offer its services to employees and visitors alike in their respective headquarters.
BONBELL aims to increase the number of partnered restaurants to 750 by the end of 2022. The company is also in talks with two venture capital funds from Europe and the Gulf to close a $10 million seed round by the end of the year.
DONBELL’s Co-founder Reaction
Explaining the startup’s core service, Doaa Abdel-Hameed, the chief business officer at BONBELL said, “we aim to help restaurants in offering an easier food ordering experience to their customers, whether through food delivery or reserving a table in the restaurant, as well as take away orders and also special orders made by customers in their restaurants.”
“We pursue a better experience for the Egyptian user in food ordering, we see a lot of potential and opportunities to do that through developing the App constantly based on the user reviews, and adding more restaurants in all of the Egyptian governorates,” she added.
In just 6 months since its launch, over 12,000 customers have used the app for food ordering in all of the ways available.
Abdel-Hameed underscored that the BONBELL App’s success in providing the best experience to its users can only be achieved through strategic partnerships with many more restaurants, as well as the constant development of the technology used in the App, as well as relying on offering inventive solutions to Egyptian users such as (Robotic Stations) service.
This service will provide customers with the experience of ordering and serving food through a Robot, with no human intervention, the service will be available in Egypt by the end of 2023.