Algerian Travel Tech VOLZ Raises $5M Led by Tell Group

Volz, an Algeria-based electric mobility startup, has raised $5 million in a Series A funding round that ranks as the largest startup investment in Algeria to date when measured in local currency.

Beyond its size, the transaction carries added significance for the country’s venture ecosystem. The deal marks the first exit of the Algerian Startup Fund, which achieved a return of more than 3.35 times its initial investment in Volz. The exit represents a milestone for Algeria’s state-backed venture capital efforts and provides one of the clearest proof points so far that local startup investments can generate meaningful returns.

Volz operates in the electric mobility sector, developing electric vehicle solutions adapted to regional transport needs. The company is positioned within a growing push across North Africa to reduce reliance on fossil fuels, modernise urban transport, and build locally manufactured clean-energy alternatives.

“This funding round marks a new milestone for VOLZ. It allows us to accelerate our mission: to empower Algerian travellers by making travel simpler, clearer, and more accessible," Mohamed Abdelhadi Mezi, CEO of Volz, says. "We thank ASF for its historic role in our beginnings and welcome our new investors with ambition and responsibility.”

The funding will be used to scale operations, accelerate product development, and expand Volz’s market presence, as demand for electric mobility solutions continues to grow in Algeria and neighbouring markets.