Cario-based logistics startup, Milezmore has gained the sum of $5 million in a pre-seed round by Brimore – Egypt’s largest social commerce platform.
This is coming after gaining a $25 million investment in a Series A round earlier in 2022.
Milezmore which was founded in 2021 by Ahmed El Attar intends to use the funds gained to address the challenges in the fragmented supply chain structures in Egypt and to also handle all its heavy operations. Also, the new capital will enable Milezmore to 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.
Milezmore provides merchants with cloud logistics solutions such as fulfilment, last-mile delivery and other logistics solutions.
Following its launch in 2021, Milezmore during the course of operations in one year has experienced unprecedented growth leading to it building an infrastructure reaching a warehousing area of +20,000 SQM, expanding its footprint to the whole country through 15 delivery hubs, processing +15 million pieces, delivering +1 million packages, and attracting +25 new customers in different industries.
Brimore, believes 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. Its partnership with Milezmore has enabled it adapt to the ever-changing requirements of growth.
“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”, CEO and co-founder of Brimore, Mohamed Abdulaziz stated.
Ahmed El Attar, Managing Director and co-founder of Milezmore said, “We are proud to be the first Egyptian startup to offer all three services and cater to all types of companies”.
