Egyptian digital logistics startup Khazenly has raised a US$2.5 million seed funding round to drive product development and quadruple its facilities. Founded in mid-2021 by Mohamed Younes, Osama Aljammali, Mohamed Montasser, and Ahmed Dewidar, Khazenly has developed a one-stop-shop solution for the full spectrum of fulfilment services, from warehousing, to cross-docking, transportation, delivery, and cash collection services. The US$2.5 million seed funding round was co-led by leading regional venture capitalists Arzan Venture Capital and Shorooq Partners, Other investors include Camel Ventures, Averroes Ventures, and various angel investors. Proceeds will be used to develop Khazenly’s products and services, and quadruple its existing facilities. “At Khazenly, our simplified, technology-fueled platform, high-calibre experienced team, and network of market-leading partners help merchants grow and scale.

Source: The North Africa Journal June 16, 2022 06:24 UTC