Cairo-based transport tech startup Buseet has successfully closed a seed investment round from a group of investors. The startup did not reveal the amount of funding it received.
The round was led by Cairo Angels, a global network of angel investors focused on supporting startup opportunities in the Middle East and Africa, along with 500 Startups and other international angel investors from Singapore and Gulf, according to a statement from Cairo Angels.
Buseet currently operates in Cairo and Dubai. it was founded by Amr El Sawy, Khaled Mahmoud and Mohamed Emad in 2016 to provide an easy to use, comfortable, and cost-effective technology solution for commuters.
The company plans to use the investment to increase its product offering and to grow to other markets in the MENA region.
Buseet joined Dubai’s Startup Bootcamp in 2017, which allowed it to expand its operations to Dubai in 2018.
“We’re excited about this round that will help us expand our team and strengthen our tech to offer a high-quality service for everyday commuters. Moving forward our focus is to shift more car owners to save time and effort wasted in driving to ride Buseet, hence improve their daily commute experience while reducing the number of cars and traffic,” said Amr El Sawy, Co-Founder and CEO of Buseet.
The MENA’s transport tech and car-sharing startups are continuing to grab investors’ attention. According to Magnitt, transportation tech startups received a total funding of $151 million last year, becoming the highest-funded sector in the MENA region.
Careem, Fetchr, SWVL, Ousta, TuKKer, and LoadMe were the highest funded MENA startups in the transportation and logistics industry since 2014.