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Egypt-based logistics startup ILLA, has received a reported $500 000 in funding from Averroes VC, AUC Angels, and a group of local and regional strategic angel investors with follow-on funding from Flat6Labs Cairo.
The secured funding will be utilised to expand ILLA’s local market reach and explore its product reach to operate in regional markets.
Delivery logistics marketplace ILLA receives funding to expand the local market
In an official press release, Mariam Kamel, Manager at AUC Angels, who invested in ILLA praises the ILLA team, commenting on the current shifts taking place in the logistics technology industry, adding that ILLA has a unique innovation that will grow the market.
“The ailing logistics and delivery sector is at a turning point, with ILLA well-positioned due to their solid team, unique market know-how, and the strength of their solution. We are really pleased to support their growth and be a part of this round.”
In addition, the new investment funding received will enable ILLA to grow its current product by implementing enhanced technology to ensure that it maintains its current position as a leader in the FMCG Delivery Logistics industry in Egypt.
Marie-Therese Fam, Managing Partner of Flat6Labs Cairo explains that ILLAs goals align with their own which is to serve new markets and initiate technology-based solutions. She explains the reason Flat6Labs chose to invest for the second time.
“ILLA joined FLat6Labs Cairo Spring 2019 Accelerator Program. As early-stage investors, Flat6Labs primarily invests in people, ILLA’s founding team demonstrated from day one that they are an A-team. Their dedication, extensive experience in the logistics & Multinational FMCG industries, and more importantly their insightful vision were assuring signs of great success ahead. FLat6Labs is reinforcing its belief in ILLA and the team by joining a second round of investment in the company, in order for ILLA to continue to grow its business operations, to serve new markets/segments, and introduce new technologically-enabled solutions. Flat6Labs Cairo is confident in ILLA’s future plans and their ability to fulfil them. We wish the team continued success.”
A delivery marketplace disruptor
Founded in March 2019, ILLA is a logistics delivery marketplace startup based in Egypt that focuses on providing innovative logistics solutions to the Fast Moving Customer Goods (FMCG) industry.
The startup provides transportation and logistics solutions to big corporations and SMEs in Egypt. The innovative FMCG-focused delivery logistics startup has been founded by an entrepreneurial and experienced team, Mahmoud El- Zomor, Alaa Jarkas, Ahmed Sakr, and Hossam Saraya.
ILLA analyses the local and regional market share to accelerate the industry through innovations. Despite new technology and market dynamics implemented, ILLA remains the leader in the FMCG Delivery Logistics industry in Egypt by delivering seven million cases across 24 governorates in Egypt.
The Egypt-based tech startup’s objective is to grow relationships within the value chain and use the transformation of technology to allow clients to manage current and outsourced fleets.
Market insights and analytics are provided by ILLA allowing its clients to make informed decisions and enhance their delivery quality to their customers.
Investors assist with growing business operations
Dr. Ahmed Alsharif, Founding Partner and CEO of Averroes Ventures invested in ILLA and comments on the importance of distributing custom solutions that targets FMCG to accelerate the logistics technology industry.
“We at Averroes are always on the quest of backing up exceptional startups and we have established this earlier in the logistics technology domain. We believe in ILLA’s vision in providing high quality customized distribution solutions and in the value of its offering in serving FMCGs in an innovative and effective manner. 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.”
ILLA gained the support of respected local companies as well as multinational household names, such as CocaCola, P&G, Nestle, and Pepsico.
Featured image: Joel Muniz via Unsplash