Egypt-based delivery and logistics startup ILLA, has raised $500,000 seed investment from Averroes VC, AUC Angels and a consortium of local and regional strategic angel investors, in addition to follow-on funding from Flat6Labs Cairo.
ILLA was launched in 2019 through the Flat6Labs Cairo accelerator. The startup offers a logistics solution to corporates as well as SMEs working across the fast-moving consumer goods (FMCG) sector.
Currently, ILLA operates within 24 governorates in Egypt and has delivered 7 million cases so far. The startup will use the newly-raised proceeds to drive its local expansion and exploration of the regional markets as well as enhancing its customer experience.
"We at Averroes are always on the quest of backing up exceptional startups and we have established this earlier in the logistics technology domain. We believe in ILLA’s vision in providing high quality customised distribution solutions and in the value of its offering in serving FMCGs in an innovative and effective manner. ILLA's exceptional team of diversified backgrounds are surely capable and well equipped in becoming a key player in the future of the logistics technology industry,” said Ahmed Alsharif, founding partner and CEO of Averroes Ventures.
The startup’s clients include multinationals such as CocaCola, P&G, Nestle and Pepsico alongside other local enterprises.
“The ailing logistics and delivery sector is at a turning point, with ILLA well-positioned due to their solid team, unique market know-how, and the strength of their solution. We are really pleased to support their growth and be a part of this round," said Mariam Kamel, manager at AUC Angels.