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Egyptian Delivery Startup Bosta Gears Up for Growth with New Investment from Axian Group

New Investments

Egyptian Delivery Startup Bosta Gears Up for Growth with New Investment from Axian Group

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Egyptian logistics startup Bosta is gearing up for further expansion after securing a fresh investment from Axian Group, a pan-African group and investment firm.
 
This undisclosed funding boost follows Bosta’s successful entry into Saudi Arabia and the appointment of former DHL Express CEO Ken Allen as a board member and investor in 2023.

Founded in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta is catering to businesses with comprehensive delivery solutions.
 
Already a top 20 player in Cairo and boasting over 10 million deliveries, Bosta has ambitions that extend far beyond its current borders.

“This investment from Axian Group is a pivotal step in our growth journey,” says a company spokesperson. “Their expertise and network will be invaluable as we continue to expand across the region and unlock new opportunities for our customers.”

Bosta’s user-friendly mobile and web platform simplifies e-commerce fulfilment, allowing businesses to manage shipments and track deliveries in real time.
 
Prior to Axian’s investment, the company had already secured significant funding, including a $6.7 million Series A round in 2021 and an undisclosed pre-Series B round in 2022.

Axian Group, with its roots in Madagascar, has a keen eye for promising African startups.
 
Their foray into Egyptian logistics aligns with their strategic focus on high-growth sectors like Bosta’s, which is estimated to reach $14.56 billion by 2024. Egypt’s recent rise to become one of the world’s top ten domestic logistics markets further underscores the potential of this partnership.

This injection of capital and expertise will bolster Bosta’s ambitions to dominate the Egyptian and Saudi Arabian markets and potentially venture into other promising territories. 

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