Egypt's Mylerz, a logistics startup specializing in e-commerce solutions, has successfully raised over $2 million (approximately EGP 100 million) in a funding round led by Lorax Capital Partners, with contributions from Fawry and existing investors. The capital infusion is aimed at fortifying the company's balance sheet, enhancing working capital, and scaling its logistics infrastructure throughout Egypt. Founded in 2019 by Samer Gharaibeh, Mylerz offers comprehensive logistics services, including fulfilment and last-mile delivery, supported by a robust technology platform that streamlines operations for merchants.
This latest funding round follows a previous $9.6 million investment secured in 2022, reflecting Mylerz's ongoing commitment to expanding its domestic presence. The company plans to utilize the new funds to bolster its fulfilment capacity and operational infrastructure, which are critical as it navigates the rapidly evolving e-commerce landscape in Egypt. Mylerz's technology-driven approach enables it to offer same-day and next-day delivery services, positioning it favorably in a competitive market.
CEO Samer Gharaibeh emphasized the importance of this funding, describing it as a strong endorsement from partners familiar with Mylerz's operations. He noted that the capital will empower the company to invest decisively in infrastructure, technology, and talent, ensuring that it continues to meet the demands of both merchants and their customers. As e-commerce volumes surge in Egypt, Mylerz is strategically positioned to capitalize on this growth while maintaining the service quality that has been a hallmark of its operations since inception.
The investment in Mylerz highlights the increasing interest in logistics and supply chain solutions within the region, particularly as e-commerce continues to gain traction. For investors, this signals a promising opportunity in a sector that is vital for the growth of the broader digital economy in the Gulf. As logistics capabilities expand, they are likely to enhance the overall market structure, facilitating smoother cross-border trade and supporting the burgeoning e-commerce ecosystem in Egypt and beyond.
This latest funding round follows a previous $9.6 million investment secured in 2022, reflecting Mylerz's ongoing commitment to expanding its domestic presence. The company plans to utilize the new funds to bolster its fulfilment capacity and operational infrastructure, which are critical as it navigates the rapidly evolving e-commerce landscape in Egypt. Mylerz's technology-driven approach enables it to offer same-day and next-day delivery services, positioning it favorably in a competitive market.
CEO Samer Gharaibeh emphasized the importance of this funding, describing it as a strong endorsement from partners familiar with Mylerz's operations. He noted that the capital will empower the company to invest decisively in infrastructure, technology, and talent, ensuring that it continues to meet the demands of both merchants and their customers. As e-commerce volumes surge in Egypt, Mylerz is strategically positioned to capitalize on this growth while maintaining the service quality that has been a hallmark of its operations since inception.
The investment in Mylerz highlights the increasing interest in logistics and supply chain solutions within the region, particularly as e-commerce continues to gain traction. For investors, this signals a promising opportunity in a sector that is vital for the growth of the broader digital economy in the Gulf. As logistics capabilities expand, they are likely to enhance the overall market structure, facilitating smoother cross-border trade and supporting the burgeoning e-commerce ecosystem in Egypt and beyond.
Source: Wamda
