Milezmore Raises $5m Pre-Seed Round From Brimore
The Egyptian Logistics Startup aims to enable merchants to capture high growth potential by providing supercharged cloud logistics solutions.
Milezmore has raised US$5 million in pre-seed funding from social commerce platform Brimore.
The startup provides cloud fulfillment, last mile delivery, and customisable operations solutions to its customers. Milezmore also provides a full spectrum of reliable, scalable, and cost-efficient fulfillment solutions powered by cutting-edge technology that allows companies to provide a seamless fulfillment experience to their customers.
The startup has experienced strong growth, and built an infrastructure reaching a warehousing area of more than 20,000 square metres. It has expanded its footprint to the whole of Egypt through 15 delivery hubs, processing more than 15 million items, delivering over a million packages, and attracting 25 customers in different industries.
Brimore, which leverages the power of individual social networks to enable broad, cost-effective market access, was Milezmore’s first customer, and now, after raising a US$25 million Series A funding round last month, has invested US$5 million in the startup to help it expand further.
The new capital will enable Milezmore to quickly scale its cloud solutions through robust technology, expandable storage area, and 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 said: “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 who drove the company forward and achieved tremendous results. This is only the beginning, and we’re confident that Milezmore will revolutionise the logistics industry in the near future.”
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.
Mohamed Abdulaziz, CEO and Co-Founder of Brimore said: “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.”