Barely 24 hours ago, we reported that a startup from Egypt got investment of an undisclosed sum from Cairo Angels. Today, another startup -this time, not from Egypt- has gotten investment in order to enlarge its business horizon. This startup isn’t even an edtech startup like Orcas but it’s a startup that offers food services. The startup being referred to here is EatOut from Kenya.
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EatOut has received a whooping sum of $500,000 investment from an IT company in Kenya- Craft Silicon. The investment will be used by EatOut to extend its services to more parts of Kenya, and to also develop an app for payment.
EatOut, the food tech startup whose services are to provide users of its platform with information on the closest restaurant, affordable restaurants and latest discounts offered by different restaurant. In other words, it can be said that EatOut offers the users a dining scenery right from the comfort of their various devices.
Craft Silicon, a Kenyan IT company whose benevolent act didn’t start with EatOut, have offered other organizations funds in order to boost the startup’s portfolio. Its first recipient of benevolence is Little, a Nairobi-based taxi service.
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The funds received by EatOut will not only be used by the startup to make a payment app available, but it will also be used by the startup to extend its services to other East African countries outside Kenya.
In a comprehensive interview with Forbes, a representative of EatOut, Mikul Shah stated that the support from Craft Silicon has been tremendous since EatOut came into being.
“Over the last 12 months we have been testing our mobile payments and loyalty platform with several partners. In taking this big step forward we wanted a partner that could bring a wealth of industry expertise. The Craft Silicon team has been working with us since inception and we are delighted that they share our vision,” explained Mikul Shah.
The payment app that will be launched with the aid of the funds should surface as quick as EatOut deems it fit to launch.