ILLA, an Egyptian logistics company, has raised $2 million in initial investment to accelerate its market development and expand its services to the FMCG value chain.
ILLA was founded in March 2019 as part of the Flat6Labs Cairo accelerator, and provides full-service transportation and logistics solutions to corporates and SMEs, addressing significant pain issues unique to the FMCG market.
ILLA has over 65 clients, including Coca-Cola, P&G, Danone, Nestle, Juhayna, and Pepsico, and has raised $500,000 in pre-seed financing. It has now received a US $2 million seed investment to assist it in acquiring additional clients and expanding its services.
Watheeq Financial Services and Golden Palm Investments led the round, with LoftyInc Capital Management, Kepple Africa Ventures, Cubit Ventures, AUC Angels, Oqal Angel Network, and Flat6Labs also participating.
“ILLA will use the funds to fuel its expansion and growth in Egypt and disrupt the traditional route-to-market for FMCG companies and SMEs while building more around its tech platform to deliver more value to its clients and drivers alike,” said Mahmoud ElZomor, the startup’s co-founder and chief executive officer (CEO).
Watheeq Financial Services’ Khaled Zaidan said the ILLA team offered decades of diverse knowledge to assist increase efficiency in the global FMCG sector, which is worth $15 trillion.
“With the onset of COVID-19, the global supply chain management industry is suitable for modernisation, and ILLA is uniquely positioned as an end-to-end execution platform. In addition, ILLA’s smart logistics solutions also play a crucial role in providing a full stack of operational solutions that will disrupt the sector, and will change the behaviour for all stakeholders within the FMCG market,” he said.
