Axian Group Invests in Egypt’s Bosta
The funds will be directed to fuel expansion across Egypt and Saudi Arabia.
The pan-African investment firm Axian Group has invested in Egypt-based last-mile logistics startup Bosta to fuel expansion across Egypt and Saudi Arabia.[1]
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Founded in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta serves the requirements of numerous online businesses in Egypt.
The startup ensures a seamless distribution process, guaranteeing next-day delivery services globally.
Bosta has delivered over 10 million shipments so far.
After its pre-Series B fundraising round, Bosta extended its operations to Saudi Arabia in 2022.
This was achieved via a strategic investment round led by Khwarizmi Ventures, with participation from existing investors along with Hassan Allam Holding.
In 2021, Bosta secured $6.7 million in a Series A round led by global VC fund Silicon Badia, with participation from 4DX, Plug and Play Ventures, Wealthwell VC, and Khawarizmi VC from KSA as well as other regional and global investors. [2]