Logistics startup ILLA raises investment round to accelerate its market growth

EGYPT – ILLA, the FMCG logistics startup, has raised a seven-figure investment round to accelerate its market growth and extend its offering within the FMCG value chain.  It intends to use the funds to expand its domestic market and improve its user experience.    Watheeq Financial Services and Golden Palm Investments co-led the round. Loftyinc Capital Management, Kepple Africa Fund, Cubit Ventures, AUC Angels, Oqal Angel Network, and FLat6Labs Cairo all participated in the round, with the latter doubling down on its investment in ILLA for the third time.  “ILLA will use the funds to fuel its expansion and growth…

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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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