Egypt’s logistics startup Roboost gets $3m for MENA expansion
TLDR
- Egyptian logistics startup, Roboost, completes $3 million investment round led by Silicon Badia and with participation from RZM Investment, Flat6Labs, and Saudi Arabian angel investors.
- Roboost specializes in AI-powered delivery solutions and operates in Egypt, Saudi Arabia, Kuwait, Morocco, and Tunisia.
- With the new capital, Roboost plans to expand its presence in the Mena region, diversify into e-commerce and middle-mile solutions, and strengthen its position in the logistics sector.
Egyptian logistics startup Roboost has just completed a $3 million investment round, with Silicon Badia leading the funding and participation from RZM Investment, Flat6Labs, and Saudi Arabian angel investors.
Established in 2018 by Mohamed Gessraha, Hassan Gessraha, and Mohamed Ali Sadek, Roboost specializes in AI-powered delivery solutions, operating in Egypt, Saudi Arabia, Kuwait, Morocco, and Tunisia.
The infusion of new capital will empower Roboost to extend its presence throughout the Mena region and broaden its service offerings. The company aims to diversify into e-commerce and middle-mile solutions, leveraging the investment to enhance its capabilities and solidify its position in the logistics sector.
Key Takeaways
The market opportunity for last-mile delivery in Africa is immense due to a large and rapidly growing population and increasing urbanization. Additionally, Small and medium-sized businesses in Africa make up 90% of all businesses on the continent and are essentially the backbone of the continent’s economy but they still struggle with the logistics and delivery side of things. This creates a need for efficient last-mile delivery solutions. But the lack of infrastructure presents significant challenges. Innovative solutions such as mobile-based delivery services and drone delivery are emerging to address these obstacles and tap into the vast potential of the African last-mile delivery market.
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