Cairo-based parcel delivery company, Mylerz has raised $9.6 million in a funding round led by private equity firm Lorax Capital Partners. Mylerz provides end-to-end solutions including fulfillment and last mile delivery. Currently, Mylerz operates 21 hubs in 14 different cities across Egypt and a fleet of over 350 eco-friendly vehicles. Besides expanding in Egypt, the funding will enable Mylerz to start operations in Algeria, Tunisia and Morocco by Q3 2022. “The investment will enable Mylerz to construct and open a brand- new AI-enabled, automated 25,000 sqm cross-docking fulfillment center West of Cairo by Q4 2022 and to augment its current 1,500 sqm fulfillment center,” the company said in a statement.

Source: The North Africa Journal May 11, 2022 11:53 UTC