Egyptian ride-hailing startup Hive that serves children nets $400k from investor

A Cairo-based ride-hailing startup Hive, which focuses on transporting children, has secured a $400 000 investment from an investor who was one of the startup’s first customers.

Tech publication Menabytes reported in an exclusive article yesterday that the seed investment had been made by Abdelmoneim Al-Adawy who it said has been using Hive’s school transport service for his children since it was launched last year.

Hive was founded in 2018 by Abdelrahman Osama and Mohamed Aboali

Hive was founded last year by Abdelrahman Osama and Mohamed Aboali. The startup currently operates a subscription-based ride-hailing solution for school children.

The startup’s founders told Menabytes that Hive completed more than 6000 trips to 14 schools in Cairo between last September and June this year.

Hive told the same publication earlier this year that it had received an undisclosed investment from an unnamed angel investor.

Ventureburn today sought comment from Osama, Aboali as well as from the startup directly on when the investment was concluded, how many registered users it has and its expansion plans but had not received a response at the time of publication.

Featured image: Hive via Facebook