Logistics company ILLA raises US$500K seed fund to support its growth

EGYPT – ILLA, a fast-moving consumer goods (FMCG) delivery logistics marketplace, has successfully raised US$500,000 in seed fund from Averroes VC, AUC Angels and a consortium of local and regional strategic angel investors with follow-on funding from Flat6Labs Cairo. The new investment round will enable ILLA to further capitalize on its position as a leader in FMCG Delivery Logistics industry in Egypt, where delivery logistics is being constantly disrupted with new technology and market dynamics. “The ailing logistics and delivery sector is at a turning point, with Illa well-positioned due…

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