Cairo Angels Invests in Egyptian Logistics Startup Bosta
Cairo Angels, a global network of angel investors focused on supporting startups in Egypt, the Middle East, and Africa, invested in Bosta, a logistics startup based in Cairo. The Cairo Angels investment follows a previous investment by Dubai-based seed fund, Numu Capital. Founded by Y Combinator alumnus Mohamed Ezzat, the on-demand delivery platform allows customers to send, receive, and track deliveries at the push of a button. Already operating in Egypt, Bosta plans on using the investment to increase its product offering and to grow to other markets in the MENA region. On another note, the logistics industry is valued around $3B in the MENA region and is expected to double in the next 3 years after the entrance of big ecommerce players like Amazon in the region.