Milezmore Raises $5M in Pre-Seed Funding

Cairo, Egypt-based logistics provider Milezmore has raised $5 million in pre-seed financing, the company announced Monday (Feb. 28).

The capital will allow the firm to enhance technology, expand storage, enlarge delivery capacity and scale cloud solutions, the company said. It is also intended to address the challenges in the fragmented supply chain in the country and double its staff.

The capital was provided by Brimore, an Egyptian social commerce platform and distribution channel connecting emerging brands. The investment follows Brimore’s $25 million Series A round earlier this year.

Co-founded last year by Ahmed El Attar, Milezmore provides merchants with cloud logistics including fulfillment, last-mile delivery and other operations solutions.

In one year, Milezmore said it has experienced “tremendous” growth and built an infrastructure complete with a 20,000-square-foot warehouse. Its network has expanded to all of Egypt through 15 delivery hubs, processing more than 15 million pieces, delivering 1 million packages and attracting more than two dozen new customers across industries.

“What I witnessed during the past four years is that the traditional supply chain wasn’t built to solve today’s problem,” El Attar said in a statement. “I believe Milezmore was built for that.”

The logistics management sector is attracting startups around the globe. Last week, Shipsy raised $25 million in a Series B funding round co-led by A91 Partners and Z3 Partners with participation by existing investors Info Edge and Sequoia Capital India’s Surge.

See also: Logistics Platform Shipsy Secures $25M in Series B for International Growth

The new capital will be used to help the Indian company expand in the Middle East, India and Southeast Asian markets while growing internationally into Europe and the U.S.

The new funds will also go towards advancing new technologies with more emphasis on boosting logistics sustainability, as well as driving its capabilities in artificial intelligence, machine learning and blockchain.