Egypt-focused angel investor network Cairo Angels has made an undisclosed investment in Bosta, a Cairo-based logistics tech startup.
Bosta is an on-demand delivery platform that allows users to send, receive and track their deliveries. The startup is currently servicing customers in Egypt, but with this new investment, it plans to expand into other MENA markets and grow its product offering.
The firm previously raised an undisclosed amount in funding from Numu Capital. The funding will help Bosta strengthen its position in fast growing logistics sector in MENA, which is valued at $3 billion, a statement said.
This is Cairo Angels second big investment in Egypt this year.
In May, Cairo Angels invested an undisclosed amount in Egypt-based ed-tech startup Orcas. Orcas, which was formerly known as Cairo Sitters, is a digital marketplace.
The round marked Cairo Angels’ 20th investment in startups in the MENA region.
Cairo Angels is Egypt’s first network of angel investors and are located in Cairo, with a standalone chapter in London, UK. It invests in and supports startups and early stage, high-growth businesses across the Middle East and Africa.