Cairo An­gels In­vests in Egyp­tian Lo­gis­tics Startup Bosta

Arabnet - The Quarterly - - Industry Stories -

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.

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