Mobily Ventures, the VC unit of Saudi telecom operator Mobily, announced an investment in hellofood Middle East, the leading food ordering marketplace in the region. The date of investment whose amount has not been disclosed was done back in March 2014.
hellofood Middle East is a part of global foodpanda/hellofood restaurant marketplace network backed by Rocket Internet. The group currently operates in 43 countries, with Saudi Arabia, Jordan, Qatar and Lebanon served by local business hellofood Middle East. The investment will be used to fuel company’s operations in Saudi Arabia and other markets in the region, according to the press release.
Mobily Ventures was launched in last August with first investments made into music streaming service Anghami and the taxi hailing app Easy Taxi. Apart from Rocket Internet, the investors in foodpanda/hellofood group also include Investment AB Kinnevik, iMENA Holdings, Phenomen Ventures and Falcon Edge Capital.
The free app of hellofood Middle East is available on all major mobile platforms.