Menu Group UK Ltd, a food delivery startup operating in Armenia, Georgia, and Belarus, raised $3m in funding.
Backers included Perea Capital, Hayastan 1, and SOLventures, which all will join the board of directors.
The company intends to use the funds to enhance the development of IT infrastructure, improve the customer interface and experience, increase marketing activity in all markets, and expand operations into new markets.
Launched in 2012 by Vahan Kerobyan, Menu Group currently delivers more than one million restaurant orders annually in Armenia, Georgia, and Belarus. In August 2017, the company consolidated its position in Georgia by acquiring its nearest competitor Foodpanda Georgia.
The company’s estimated revenue for 2017 will be more than $3m.