Cairo Angels, a network of angel investors focused on supporting startup opportunities in Egypt and the Middle East, announced its investment in Bosta, a Cairo-based logistics tech startup.
It’s an on demand delivery platform that allows users to send, receive, and track their deliveries. The company is currently servicing customers in Egypt, but with this new investment, it plans to expand into other MENA markets and grow its product offering.
This investment by Cairo Angels follows a similar one by Numu Capital.
The logistics industry is currently valued at $3 billion in the MENA and is expected to double in the next three years following the entry of international players such as Amazon. This investment positions Bosta in a good place to grab an important stake in this fast growing market.
Cairo Angels is looking to invest in more customer centric logistic solutions as well as cleantech startups, which they feel will be at the center of the next wave of successful businesses in the region.