Color LogoLoading...

🌍 Feed

✍🏿 Compose

Egyptian logistics startup Milezmore secures $5m pre-seed round from Brimore

#startup
#venture capital
#investments
#funding
#logistics
Milezmore, an Egyptian startup that offers cloud fulfillment, last mile delivery, and customisable operations solutions, has received $5 million in pre-seed funding from social commerce platform Brimore.

Milezmore, an Egyptian startup that offers cloud fulfillment, last mile delivery, and customisable operations solutions, has received $5 million in pre-seed funding from social commerce platform Brimore.

Milezmore, which was founded a year ago, aims to help merchants capitalize on high growth potential by providing supercharged cloud logistics solutions. It offers a comprehensive range of dependable, scalable, and cost-effective fulfillment solutions powered by cutting-edge technology, allowing businesses to provide a seamless fulfillment experience to their customers.

The startup has experienced rapid expansion, resulting in a warehousing area of more than 20,000 square meters.

It has expanded its footprint to cover the entire country of Egypt via 15 delivery hubs, processing over 15 million items, delivering over a million packages, and attracting 25 customers from various industries.

Brimore, which uses the power of individual social networks to enable broad, cost-effective market access, was Milezmore’s first customer and has now invested US$5 million in the startup after raising a US$25 million Series A funding round last month.

Milezmore will be able to quickly scale its cloud solutions thanks to robust technology, expandable storage capacity, and increased delivery capacity, as well as double its team to enable a 50X increase in its customer base.

“We are proud to be the first Egyptian startup to provide all three services to all types of businesses.” What I’ve seen over the last four years is that the traditional supply chain was not designed to solve today’s problems, and I believe Milezmore was. We were able to build a strong and passionate team that drove the company forward and achieved tremendous results in just one year. “We are confident that Milezmore will revolutionize the logistics industry in the near future,” said Ahmed El Attar, Milezmore’s managing director and co-founder.

Brimore believed that investing in a company that manages all of its logistics was the way forward, especially since Egypt continues to suffer from the inefficiencies of the traditional supply chain structure.

“Egypt has suffered for decades from a fragmented traditional supply chain structure that no longer works with the rise of new commerce models, particularly after being hit by a global pandemic.” To address this issue, we believed that investing in Milezmore to handle all heavy operations would be the best solution. After all, Brimore’s promise is to build smart infrastructure for the masses, and our investment in Milezmore demonstrates that,” said Mohamed Abdulaziz, CEO and co-founder of Brimore.

Top comments(0)

SEND

You may like this too...

Bird Story Agency

Despite a dip in overall funding levels, the continent is witnessing a marked increase in the number of ventures securing $1 million or more.
Apr 10, 2024

Bird Story Agency

Mozambique doubles down on growth with Africa's first dual benchmark rate cuts in 2024 as currencies across the continent score gains against the greenback.
Apr 5, 2024

Bird Story Agency

From ranking as the world’s worst-performing currencies in 2023, the Kenyan shilling and Nigerian naira have made significant progress. They are now among the best-performing currencies in the world for 2024, raising hopes for a lower cost of living in these countries.
Apr 2, 2024

Benjamindada

Explore how Leatherback's collaboration with YES BANK is revolutionizing remittances by enabling seamless Indian Rupee transfers worldwide, fostering economic growth and cultural exchange between India and Africa.
Mar 26, 2024

TechCabal

Access Bank's acquisition of National Bank of Kenya (NBK) marks a significant move in its East Africa expansion strategy, valued at around $100 million, pending regulatory approval. 📈💰
Mar 21, 2024

TechCabal

Nigeria's Access Bank strengthens its presence in Kenya with the acquisition of the National Bank of Kenya from KCB Group, marking its second Kenyan acquisition in recent years. 🌍💼
Mar 20, 2024

TechCabal

Nigeria's Securities and Exchange Commission (SEC) proposes a substantial increase in the minimum paid-up capital for virtual asset service providers (VASPs) to ₦1 billion, aiming to reshape the crypto landscape.
Mar 18, 2024

TechCabal

Chipper Cash, a prominent fintech company, announces layoffs and salary cuts after suspending its services in the US, highlighting a strategic shift towards focusing on its African markets.
Mar 16, 2024

TechCabal

Despite economic challenges fueled by hyperinflation and sanctions, Zimbabwean startups are resilient and forging ahead. Learn how they navigate funding constraints, access markets beyond borders, and embrace alternative financial technologies.
Mar 15, 2024

Bird Story Agency

Nongcebo Langa fell in love with wine after a chance encounter with a winemaker at a fair. She went on to study the craft at South Africa’s renowned Stellenbosch University and her passion and mastery of the industry’s technical processes has resulted in her creating award-winning wines, like the 2022 Delheim Gewürztraminer.
Mar 12, 2024
Home
Business Hub
Market Hub
You
By signing up you agree to ourTerms|About us|Market Hub|Business Hub|Deals Hub