MEVP Announces Investment $1.9 Million in Cedar Book, Shahyia.com and Shawarmanji
MEVP has announced investment of $1.9 Million in Cedar Book, Shahyia.com and Shawarmanji.
Cedar Books (e-commerce): $1M equal co-investment between MEVP’s two funds Middle East Venture Fund MEVF and Building Block Equity Fund BBEF (both funds managed by MEVP)
Co-founded by Sany Nawfal and Cyril Hadji Thomas, Cedar books is a global e-commerce & logistics platform that sells books on 15 global market places such as Amazon.com and the likes. Based in Lebanon with operations in the US, UK and Continental Europe, Cedar Books is one of the region’s fastest growing e-commerce platform, has crossed the $11 million yearly revenues sales milestone in 2012 and still witnessing stellar growth.
Shahyia.com (food portal): $500k equal co-investment between MEVF and BBEF
Co-founded by Hala Labaki, Daniel Neuwirth, Cesar Gemayel & Carole Makhoul, Shahiya.com is the Arab world’s largest Food Website according to global online audience tracker Effective Measures. Shahiya attract more than 1.3 million monthly unique visitors, with a high concentration from Saudi Arabia. The website has been growing organically since its inception at an impressive 10-15% month on month rate (purely organic growth rate). Shahiya.com is represented by media conglomerate Choueiri Group through their Digital representation unit DMS.
Shawarmanji (Branded Fast Food Chain) $400K investment by BBEF
Co-founded by Danny el Georr, Nizar Al Hashem and Elias Chabtini (CEO), Shawarmanji is a modern chain of fully branded Shawarma restaurants. The company opened central kitchens and 8 outlets in Lebanon and the UAE, with immediate plans to expands in regional and global markets. Shawarmanji aims at being the region’s leading branded Shawarma chain with a mission to offer high quality menus at affordable prices. www.shawarmanji.com