The 3 most funded Delivery & Logistics startups in H1 2021
Interested in more data on startup investments? Access our data on 6,250+ startup funding rounds
Fueled by a pandemic-driven need for on-demand solutions, hybrids of contactless delivery formats, crowdsourced and alternative fleets, and intricate tracking & management technologies have sprouted across all geographies in Emerging Venture Markets. Delivery & Logistics startups in MENA, Turkey, and Pakistan have witnessed a great growth spurt over the first half of the year, claiming its spot as 1 of the top 5 industries in H1 2021.
The Delivery & Logistics (D&L) sector in EVMs has observed an unprecedented 1729% growth in funding in H1 2021 YoY, garnering almost 10x the amount of capital raised in Full Year 2020. Even though 91% of all funds invested in D&L were attributed to 3 Turkey-based Mega Deals, D&L funding in MENA alone broke yearly & half-yearly records garnering almost 5x YoY growth. In terms of deal count, the D&L sector climbed 3 ranks to become the 4th-busiest industry across all geographies.
So who were the main startups driving this remarkable sprint in funding and deal flow? We take a look at the most-backed startups in H1 2021 based on their funding rounds recorded in our H1 2021 EVM Delivery & Logistics Venture Investment Report. Here are the 3 most funded Delivery & Logistics startups across EVMs in H1 2021:
Of course, Getir is on the top of our list after it not only achieved Unicorn status in the first half of the year, but also raised 3 stellar rounds that accounted for 91% of all capital invested in the industry across EVMs. Getir is not the only, but surely one of the leading grocery service and goods delivery platforms to come out of the region.
Founded in 2015, Turkey-based Getir is a technology company that joins the worlds of mobile technology and logistics, providing solutions to the delivery of goods in urban areas. Through its mobile app, it offers an on-demand "ultrafast" delivery service for grocery items, in addition to a courier service for restaurant food deliveries. Getir’s phenomenal funding streak consisted of three consecutive rounds, almost 2 months apart each, raising more than $900M over Series B, C, and D. Participating in the rounds were major VCs including Sequoia Capital, Tiger Global Management, and ADQ.
Despite the D&L industry in the UAE experiencing slight slumps in their share of total transactions closed and total funding raised in MENA, observing a decrease of 1% and 4% YoY, respectively, it maintained the lion’s share of total funding raised in H1 2021. Accounting for 86% of total funding in UAE-based D&L startups, and 45% of total funding raised in MENA over H1 2021, was last-mile logistics startup Lyve Global.
Founded in 2016, Lyve is a tech-enabled last-mile logistics digitization platform based in the UAE. It reimagines logistics through advanced and agile solutions and technology innovations that connect organizations and opportunities. In a Bridge round followed by a Series B round, Lyve raised $45M in the first half of the year. Participating in both funding rounds were key regional investors including Savola Group, Faith Capital, and Middle East Venture Partners (MEVP).
Egypt’s Delivery & Logistics scene saw a record-breaking boom in the first half of the year, closing one-third of all D&L deals across EVMs and recording an almost 900% YoY growth in VC funding over the first half of the year. With deals by Flextock, Bosta, and Trella, Egypt-based D&L startups dominated the top 10 funding rounds in H1 2021 rankings.
Founded in 2018, Trella is a platform that connects shippers to carriers, adopting an asset-light model in recruiting well-coordinated freelance fleets. Trella offers services and technology to empower drivers, improve their efficiency, boost their earnings, and utilization all while creating job opportunities. The Cairo-based digital freight marketplace, closed a successful $42M funding round, comprising $30M new equity and $12M debt facilities.
The equity element was led by Maersk Growth and Raed Ventures. Other participating investors included Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures, and Flexport. The debt facilities were provided by Lendable and other local financial institutions.
Want to know where your next investment in D&L should be? Access our full H1 2021 EVM Delivery & Logistics Venture Investment Report.
Want to grasp this startup landscape? Access data on 660+ D&L startups in Emerging Venture Markets