EGYPT – ILLA, a fast-moving consumer goods (FMCG) delivery logistics marketplace, has successfully raised US$500,000 in seed fund from Averroes VC, AUC Angels and a consortium of local and regional strategic angel investors with follow-on funding from Flat6Labs Cairo.
The new investment round will enable ILLA to further capitalize on its position as a leader in FMCG Delivery Logistics industry in Egypt, where delivery logistics is being constantly disrupted with new technology and market dynamics.
“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,” Mariam Kamel, Auc Angels.
ILLA caters to the big corporates and SMEs alike, with full-fledged transportation and logistics solutions tackling major pain points unique to the FMCG industry. It operates within 24 governorates across Egypt, delivering 7 million cases so far and spanning more that 3 million kilometers.
“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.”
Dr. Ahmed Alsharif – Founding partner and CEO, Averroes Ventures
ILLA is striving to maintain its leadership positioning as the delivery logistics arm to FMCG companies as well as SMEs while enriching the customer journey and deepening relationships within the value chain.
ILLA launched officially in March 2019, through Flat6Labs Cairo accelerator. In just two years, they managed to gain the trust and support of major local companies and multinational household names, such as Coca Cola, P&G, Nestle and Pepsico while also empowering big local ones alike, and the road ahead continues to be ever so promising for the company.
“We at Averroes are always on the quest of backing up exceptional startups and we have established this earlier in the logistics technology domain,” Dr. Ahmed Alsharif, founding partner and CEO, Averroes Ventures.
“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.”
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE
