E2E logistics startup Milezmore raises $5M Pre-Seed
After raising an exceptional $25M Series A round earlier this year, Egypt’s Brimore invests $5M in its local E2E logistics provider Milezmore to delve into last-mile delivery, amidst an emerging need for sturdy local operations.
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Egypt’s leading social commerce platform, Brimore has invested $5M in end-to-end logistics service provider Milezmore, Egypt’s pioneering startup in cloud fulfillment, last-mile delivery, and customizable operations solutions.
On the back of unprecedented growth, Brimore believed that investing in a company that manages all its logistics was the way forward, especially since Egypt still suffers from the inefficiencies of the traditional supply chain structure. Milezmore has enabled Brimore to adapt to the ever-changing requirements of growth and has been a core factor behind Brimore’s rapid expansion. While Brimore was its first entry into the market, Milezmore rapidly expanded to cater to many other companies.
With Egypt’s only Mega Round ($100M+) in 2021 closed by Logistics startup and crediting solutions provider Halan, the Transport & Logistics (T&L) sector rose up the ranks amongst the top 3 industries. As recorded in our Egypt 2022 Venture Investment report, following an almost 300% YoY increase in capital invested in the sector, the T&L space surpassed E-commerce and FinTech to become the most funded sector in Egypt over 2021. Amidst a general investment and market surge of E-commerce and Q-commerce propositions, T&L startups like ILLA, Flextock, and Trella have been championing the last-mile delivery space, integrating freight technologies to address infrastructure pain points in one of the most populated geographies in the world. The investment comes at a time where Q-commerce, and ventures within the general on-demand delivery category, including Breadfast, Rabbit, and GoodsMart have integrated logistics solutions to crack a highly required market offering. Together, E-commerce and T&L digital avenues have observed tremendous growth in Egypt and across MENA, wherein funding in the E-commerce sector has increased by more than 115% between 2019 and 2020 as recorded in our E-commerce 2022 Venture Investment Report.
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In the span of one year, Milezmore experienced tremendous growth and built an infrastructure reaching a warehousing area of +20k SQM, expanding its footprint to the whole country through 15 delivery hubs, processing +15M pieces, delivering +1M packages, and attracting +25 new customers in different industries. CEO and co-founder of Brimore, Mohamed Abdulaziz highlighted, “For decades, Egypt has suffered from a fragmented traditional supply chain structure that no longer works with the rise of new commerce models, especially after being hit with a global pandemic. To address this challenge, we believed that the best solution was to invest in Milezmore to handle all the heavy operations. After all, Brimore’s promise is to create smart infrastructure for the masses, and our investment in Milezmore is a testament to that.”
Milezmore's mission is to enable its merchants to capture high growth potential by providing supercharged cloud logistics solutions. The new capital will enable Milezmore to blitz scale its cloud solutions through robust technology, expandable storage area, higher delivery capacity, and double its team to enable a 50X increase in its customer base. Ahmed El Attar, Managing Director and co-founder of Milezmore concluded, “We are proud to be the first Egyptian startup to offer all three services and cater to all types of companies. What I witnessed during the past four years is that the traditional supply chain wasn’t built to solve today’s problem, and I believe Milezmore was built for that. In one year, we were able to build a strong and passionate team that drove the company forward and achieved tremendous results. This is only the beginning, and we’re confident that Milezmore will revolutionize the logistics industry in the near future.”
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