Bosta, a Cairo-based E-commerce supply startup has introduced the shut of a $6.7M Collection A spherical led by international VC fund Silicon Badia, with participation from 4DX, Plug and Play Ventures, Wealthwell VC and Khwarizmi VC from KSA, and different regional and international buyers.
Bosta exists to assist companies, particularly small ones, develop profitably. The startup’s tech product simplifies logistics and permits prospects to have full management over the supply course of. Since its inception, Bosta has delivered greater than 4M parcels for companies, with 2.3M alone for the reason that coronavirus outbreak. Greater than 2,200 companies use Bosta day by day for its last-mile supply and assured next-day supply that covers all of Egypt.
Mohamed Ezzat, Founder and CEO of Bosta talked about “Fixing the final mile supply downside for ecommerce corporations could be very essential for the ecommerce enterprise to develop in Egypt and the Center East. As an organization, we’re dedicated to serving to the ecommerce sector develop by offering them with speedy supply, high quality, and distinctive service—all whereas ensuring our costs are some of the aggressive to assist them with their tight unit economics and assist them develop a worthwhile enterprise. At Bosta, with our customer-driven strategy and discovering tech-driven options, we guarantee that we’re in a position to hit the three pillars whereas holding our prices as little as doable.”
Dr. Fawaz, Founder and CEO of Silicon Badia added “Ecommerce has at all times had wonderful potential in our area however was at all times being held again by one thing whether or not funds, logistics, market fragmentation, or buyer adoption. We’re excited to lastly see corporations like Bosta emerge to deal with a few of these points and assist ecommerce notice its full promise and potential in a area that has now ‘turned on’ digitally.”
Namek Zu’bi, Co-Founder and Managing Companion of Silicon Badia commented “We’re actually impressed by what Mohamed, Ahmed, and their crew have achieved in a really difficult sector (logistics) and market (Egypt). Numbers converse for themselves and this firm is on observe to triple throughout its KPIs this yr—all whereas sustaining a superior buyer expertise, one thing that’s important on this area.”
Bosta will use the funding to focus on delivering greater than 15M parcels in Egypt within the subsequent two years. Aside from serving greater than 20,000 companies, they can even broaden their operations within the GCC.
— to www.startupmgzn.com