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Egypt’s price comparison site, Yaoota.com, has just landed a Series A investment worth $2.7M from the UAE-based Khalifa bin Butti Bin Omeir (KBBO) private investment group. This represents the largest foreign investment to date in an Egyptian startup, with additional – and likely bigger - investments expected before the year’s end.

According to cofounders Sherif ElRakabawy and Mohamed Ewis, the investment will be used to scale their technology and grow their database. Expansion into the UAE is also a possibility.

The Egyptian Shopzilla

Launched in June 2014, Yaoota.com currently records 100,000 visitors per month. The site is witnessing growing interest from merchants who could benefit from its valuable analytics.

“Yaoota” comes from Egyptian vendors’ term for tomatoes, known for their crazy jumping prices to attract buyers.

In terms of revenue, Yaoota.com charges merchants a percentage on customer click-through-rates and purchases.

Egyptian Startups on the Radar

Prospects are beginning to look up for Egyptian startups. As Egypt’s political situation slowly returns to normal, the country seems to be recovering its rapid economic growth.  GDP growth stood at 2.2% in 2014, and is expected to reach 4.2% this year, then peak at 4.8% in 2017.

With a population of 80 million, the Egyptian market is an attractive venue for growth and investment. In March this year, Kuwait, Saudi Arabia, and the UAE pledged $12 billion of investments and central bank deposits for Egypt. Private foreign investors are also finding their way back to Cairo. KBBO Group alone plans to invest $2 billion in key sectors of the Egyptian economy.

Last August, BasharSoft, the parent company of the jobs site Wuzzuf received a $1.7 million investment from Sweden’s Vostok New Ventures and the UK-based Piton Capital, both first-time investors in Egypt. In the previous month, the payment solutions provider Fawry sold close to a 25% stake in its shares to BSI Netherlands BV.

Around half a dozen other Egyptian companies are expected to close Series A deals soon. The events site, Eventtus, is in negotiations with a foreign investor, and Instabug is also expecting to close a Series A round by year end. Kngine, a question-and-answer search engine developer is reportedly planning a second round with old and new investors set around the $3 million mark by end-2015.