Egypt's BONBELL seeks $10 million in startup capital after raising $350,000
Summary
Egypts business BONBELL, the first mobile App in the Food-tech industry specializing in food ordering and digital solutions for table and meal reservations, has concluded an initial investment round for $350,000 thanks to a Canadian Angel investor.This funding will contribute to the continued development of the Apps services and achieve a degree of growth in the number of users and daily orders.Early in 2022, BONBELL introduced its approach allowing users in Egypt to place orders for a diverse selection of foods.Because the App provides a variety of options for placing orders for meals, including food delivery, restaurant reservations, ordering at a table using a QR Code shown on the table, and takeaway services.The application supports several different payment methods, including cash and credit cards.BONBELL has formed partnerships with various establishments, including cafes, restaurants, and clubs such as Heliopolis Club and Smash Club. In addition, it provides its services in shopping malls and movie theatres so that customers can enjoy a more streamlined process for ordering food, reserving tables, and receiving food delivery while they are at these establishments.BONBELL has also entered into strategic partnerships with many other leading significant organizations and institutions, the most notable of which are the German University in Cairo and Raya Telecom, so that it can offer its services to employees and visitors at each of its headquarters.BONBELL plans to increase the number of restaurants it has worked with to 750 by the end of 2022. Additionally, the firm is negotiating with two venture capital funds from Europe and the Gulf to close a $10 million fund in its seed phase by the end of the year.The companys chief business officer, Doaa Abdel-Hameed, was quoted as saying. We see a lot of potentials and opportunity to do that by continuously developing the App based on users feedback. She continued.In just six months, BONBELL has earned the trust of over 12,000 consumers who have used the App to place food orders using any of the methods available through the App.Doaa Abdel-Hameed stressed that the BONBELL Apps success in giving its customers the finest possible experience could only be accomplished by strategic collaborations with many other eateries.In addition to the ongoing improvement of the technology utilized in the App, as well as relying on supplying creative solutions to the Egyptian user, such as the service (Robotic Stations).Customers can order food and have it served to them by a robot without assistance from a person.