Egyptian logistics startup Bosta has secured additional investment from Axian Group, a pan-African investment firm. After completing an undisclosed pre-Series B round in 2022, Bosta expanded into Saudi Arabia and now plans to use the fresh funding to further its growth in the logistics industry. Founded in 2017, Bosta offers delivery services in Egypt and Saudi Arabia, ranking among the top twenty in Cairo. With features like real-time monitoring through its mobile or web application, Bosta aims to streamline the shipping process, having completed over 10 million shipments.
Axian Group, headquartered in Madagascar, has invested in various Egyptian startups, including the business-to-business platform MaxAB. With an eye on Egypt's growing logistics market, Axian Group's investment in Bosta aligns with the country's expanding logistics landscape, expected to reach $14.56 billion by 2024. This strategic move enhances Bosta's potential to expand not only in Saudi Arabia but also in other markets, marking a significant development in Egypt's logistics sector.