Still on Alexandria Angels, the new fund has invested in the pre-Series A funding round of Mumm, an Egyptian food delivery startup. The delivery company has previously raised seed funding in 2016 and another $200,000 investment in 2017 from 500Startups. However, its latest investment comes as bridge funding to support its growth. Mumm is one company that could be witnessing a boom as the coronavirus pandemic has forced people to turn to online platforms to order cooked food and groceries. Alexandria Angels hinted at this. “Although it is risky for investors to put more cash into seed-stage companies in these times,” the investor said, “[but] certain sectors will find opportunities to thrive if they can stay afloat during these tough times, we believe
Mumm is well situated to strive.”
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