Bosta, an Egyptian logistics and last-mile delivery company, has raised a US$6.7 million Series A funding round to boost its operations and expand into the Gulf Cooperation Council (GCC).
Bosat is an Egypt-based last-mile logistics and delivery company that provides next-day deliveries. The company was founded in 2017 by serial entrepreneurs Mohammed Ezzat and Ahmed Garber.
Silicon Badia, a VC firm based in the United States and the Middle East, led the round.
4DX Ventures, Plug and Play, Wealth Well Investment Firm, Khwarizmi, and other investors are among the other investors.
“It is critical for ecommerce companies to solve the last mile delivery problem if they are to expand in Egypt and the Middle East. We are dedicated as a company to assisting the ecommerce sector in growing by providing quick delivery, high quality, and outstanding service – all while ensuring that our prices are among the most competitive in the industry to help them meet their tight unit economics and develop a profitable business.
Customer returns, exchange shipping, clearance, and cash collections are also handled by the company, allowing customers complete control over the delivery process.
Bosta has delivered over four million packages since its inception and makes over 300,000 deliveries every month.
Bosta intends to distribute over 15 million packages and represent over 20,000 businesses in the country.
Although the service is currently only available in Cairo, Ezzat stated that the funds will be used to expand next-day delivery to other Egyptian cities.
Read more on Tech Gist Africa:
Flextock, an Egyptian logistics startup, has secured $3.25 million in pre-seed funding to expand across the Middle East and North Africa region
Telda, an Egyptian-based digital banking app, has received a $5 million pre-seed investment
GoMyCode, a Tunisian edtech startup, has expanded into more African markets