After winning a spot on Riseup's explorer trip to Silicon Valley in April, instant delivery startup Bosta just received massive funding from Numu Capital.
Dubai-based Numu Capital for investment funds just announced its investment in Egyptian instant delivery startup, Bosta, El Borsa News reported Friday.
Bosta is an on-demand delivery platform that allows people and businesses to send and receive shipments with the push of a button, as well as monitor their deliveries until they reach their destination. Bosta recently won Riseup's Explore Competition, which will be taking it to world renowned startup hub, Silicon Valley in April.
Bosta's founder and CEO, Mohamed Ezzat, graduated from world-class start-up incubator, Y Combinator, and has since participated in launching a number of successful startups including Bosta. Bosta's Operations Manager, Ahmed Gaber, and Technical Manager, Mohamed El Hussieny, previously led prominent careers at tech giant, Google, before taking on the challenge of joining Bosta's team and helping get it off the ground.
"We were highly impressed by the results Borsa has achieved in just a few months [...] The ability of Bosta's team to present tangible results on the ground was a clear indicator we're investing in the right place," Jamal Metreb, Numu Capital's CEO says to El Borsa News.
The Arab world's instant delivery industry is growing at a rapid pace, with current market transactions estimated at $3 billion.