Funding Roundup: BuyEazzy, Vortexa, EVIFY and Others Secure Fresh Capital
It has been a great start of 2024 for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements:
Egyptian logistics startup Bosta has successfully secured an undisclosed investment from the pan-African group and investment firm, Axian Group. Founded in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta has positioned itself as a top-20 player in Cairo, facilitating over 10 million deliveries and harboring ambitions for broader geographic reach. The latest funding, combined with Axian's expertise, will help propel Bosta’s vision to dominate the logistics markets in Egypt and Saudi Arabia, with an eye on potential expansion into other promising regions.
Year Founded: 2017
Location: Cairo, Egypt
Latest Funding: Undisclosed
Lead Investor(s): Axian Group
BuyEazzy Series A Funding
E-commerce platform BuyEazzy has raised $4.25 million in a Series A funding round, led by Info Edge Ventures with contributions from existing investors Incubate Fund Asia and M Venture Partners. Based in Mysore, India, BuyEazzy leverages local store owners and consumers to provide a convenient online shopping experience with a wide range of products, competitive prices, and reliable delivery. The funds raised will specifically be used to expand the firm's presence to over 40 cities, onboard more than two million offline users, and disrupt the traditional supply chain in the country.
Year Founded: 2021
Location: Mysore, India
Latest Funding: $4.25M Series A
Lead Investor(s): Info Edge Ventures
EVIFY Pre-Series A Funding
EVIFY, a Surat-based electric-vehicle (EV) logistics firm, has closed a $1.3M pre-Series A to support its operational expansion within Gujarat and fund product innovation. Led by venture capital (VC) firms GVFL and Piper Serica Angel Fund, the round featured a few of the existing investors including We Founder Circle and IVY Growth. Having previously raised around $100,000 in August last year, the startup has big plans to grow its existing fleet of 400 electric bikes to 4,000 by March 2025.
Year Founded: 2021
Location: Sura, India
Latest Funding: $1.3M Pre-Series A
Lead Investor(s): GVFL and Piper Serica Angel Fund
Konvy Series A Funding
Konvy is a Thai e-commerce beauty platform that has bagged $11M in the second installment of its Series A financing round. Established in 2012, Konvy offers a diverse range of 20,000 beauty products from over 1000 local and global brands. “After Thailand, the Philippines is the next port of entry for mass adoption of beauty products and remains a trendsetter in the industry with their young and digitally savvy population,” explained QingGui Huang, CEO & Co-founder of Konvy.
Year Founded: 2012
Location: Bangkok, Thailand
Latest Funding: $11M Series A
Lead Investor(s): New Day Ventures by Robinsons Retail Holdings Inc.
Vortexa Series C Funding
Vortexa, the energy and shipping analytics company, has raised $34 million in the recent Series C, bringing its total amount raised since inception to over $60 million. The oversubscribed funding round showcases investors' confidence in Vortexa's unique position to create global value and impact in the energy and freight markets. In fact, the company claims to have doubled its valuation since the Series B funding round back in 2021 and is close to achieving profitability.
Year Founded: 2016
Location: London, United Kingdom
Latest Funding: $34M Series C
Lead Investor(s): Morgan Stanley Expansion Capital
D-Orbit Series C Funding
D-Orbit, an Italian startup specializing in providing logistics services for satellite operations and space services, has secured $110M in a Series C round of equity funding. Led by strategic backer Marubeni Corporation, this investment ranks among the largest ever secured by a space tech company in Europe. D-Orbit provides last-mile satellite delivery and mission control services, envisioning a future where it establishes a comprehensive logistics network connecting Mars, the asteroid belt, the moon, and Earth.
Year Founded: 2011
Location: Fino Mornasco, Italy
Latest Funding: $110M Series C
Lead Investor(s): Marubeni Corporation