Bosta, an Egyptian delivery platform has raised $6.7 million in a Series A round led by Amman-based global VC Silicon Badia, 4DX Ventures, Plug and Play Ventures, and Wealthwell VC, Khwarizimi Ventures as well as other regional and global investors. This takes Bosta’s total investment to date to $9.1 million.
In February last year, Bosta had secured a seven-figure (USD) Series A from European parcel delivery company DPDgroup, Fawry,Numu Capital and Cairo Angels.However,the recent funds received do not include any amount from the previously announced Series A.
Launched in 2017 by Mohammed Ezzat and Ahmed Gaber, the Egyptian startup offers a full-stack delivery solution for online businesses in Egypt. Bosta simplifies logistics allowing its customers have full control over the delivery process.
The Cairo based startup currently serves more than 2,200 businesses, covering all of Egypt. So far, Bosta has delivered more than four million parcels, half of which have been completed since the COVID-19 outbreak. With a success rate of 95%, Bosta is presently delivering 300,000 parcels monthly.
With the fresh funds received, Bosta plans to scale its operations as well as expand into the GCC.The startup plans on delivering 15 million parcels in Egypt in the next two years and serve over 20,000 businesses in the region.
Bosta aims at solving the last mile delivery problem for online companies in Egypt as this is essential for growth. The startup is committed to enabling the ecommerce sector in Egypt grow by providing these businesses with speedy delivery, quality and exceptional service ensuring that the prices are pocket friendly for all consumers.
