Egyptian eCommerce delivery company, Bosta, has secured $6.4 million Series A. The round was led by Silicon Badia, a US and Middle-East VC firm.
Other investors include 4DX Ventures,Plug and Play, and Wealth Well investment company, and Khwarizmi.
Some investors in the region and from around the world also participated in this round.
Launched in 2017 by serial entrepreneur and YC alumni Mohammed Ezzat and Ahmed Garber, Bosat is an Egypt-based last-mile logistics and delivery company that offers next-day deliveries.
The company also helps eCommerce businesses handle customer returns, exchange shipment, clearance, and cash collections, giving customers full autonomy over the delivery processes.
Apart from social media-based stores, giant eCommerce platforms like Jumia and Amazon-based Souq work with Bosta to handle deliveries.
Since its launch, it has delivered over four million packages and completes more than 300,000 deliveries monthly. Per TechCrunch, Bosta plans to deliver more than 15 million parcels and serve over 20,000 businesses in the region.
The service is only available in Cairo currently, but Ezzat revealed that the funding would be used to launch next-day delivery in other Egyptian cities.
Bosta wants to be a market leader in Africa’s eCommerce sector, with forays into Saudi Arabia part of the company's plans.
With the recent growth in Egypt’s eCommerce sector, last-mile-focused companies are a breath of fresh air, as effective logistics and deliveries are paramount to the growth of eCommerce.
Photo credit: TechCrunch