Tech in Africa
Cairo-based fragmented logistics startup ILLA has raised $2 million and is looking to scale across Egypt. As a full-stack delivery solutions startup, ILLA supports both corporates and startups in the FMCG (fast-moving consumer goods sector). The round was led by Watheeq Financial Services and Golden Palm Investments alongside participation from Cubit Ventures, Kepple Africa Fund, Oqal Angel Network, AUC Angels, and Flat6Labs Cairo.
Service sectors targeted are distributors, hotels, food, and beverage chains, manufacturers, hypermarkets, and other FMCG stakeholders. The company runs a unified platform alongside a centralized operations team that handles middle-mile delivery costs for FMCGs.
Since its launch, ILLA has completed over 250,000 transactions from 65 clients with top players such as P&G, Coca-Cola, Juhayna, Nestlé, and PepsiCo. Mohamed Emera told TechCrunch that ILLA has set its sights on the fragmented FMCG supply chain which is a trillion-dollar market. The company will channel the investment to fuel its growth in the Egyptian market.
In November 2020, Menabytes reported that ILLA had successfully completed a seed round from Averroes Venture Capital, AUC Angels, and several local and regional investors. The round also included follow on funding from Flat6Labs Cairo – where ILLA took part in its 2019 Spring cycle.
Source: TechCrunch
