Despite launching as recently as 2019, the startup is already seen as a trailblazer in logistics solutions in Egypt’s FMCG sector.
Egypt-based startup, ILLA, has announced that it has raised $500,000 in seed investment from Averroes VC, AUC Angels and a consortium of local and regional strategic angel investors. The funding comes in addition to follow-on funding from Flat6LabsCairo, with whom the delivery and logistics specialist launched in 2019.
Currently operating in 24 governorates across Egypt, ILLA offers logistics solutions to corporates and SMEs alike, particularly those working with fast-moving consumer goods. Some of the client’s bigger clients includes the likes of Coca-Cola, P&G, Nestle and Pepsico.
“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,” said Ahmed Alsharif, founding partner and CEO of Averroes Ventures. “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.”
The startup has been hailed for its team and market know-how, especially as logistics and delivery in Egypt approaches something of a turning point in light of the pandemic.
Sign up for the daily Startup Digest.