• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Nigerian/African Tech

Egypt’s Appetito Acquires Identical Startup Lamma For $10m

Femi by Femi
June 2, 2022
Share on FacebookShare on Twitter

Egyptian delivery platform Appetito is acquiring identical startup Lamma which operates in the Maghreb regions of Morocco and Tunisia.

Also On TechBooky

Airtel Launches Its eSIM Technology In Nigeria

How Machine Learning Can Be Used To Fight Government Corruption

Kenyan Fintech Startup, Kwara Raises $3 Million Seed Extension

Tunisia AI Startup, InstaDeep Acquired By Germany’s BioNTech For £582m

Agritech Startup, Releaf Completed Its Pre-Series A Funding With $3.3m

Appetito is in the business of delivering groceries and household products from its dark stores existing across three Egyptian cities – a service referred to as on-demand delivery or q-commerce.  The deal to acquire Lamma is expected to be completed by the third quarter of this year.

In the statement it issued, Appetito failed to disclose the size and terms of the deal. Its CEO, Shehab Mokhtar also refused to provide information about the deal. According to sources, however, the deal size was between $10 million to $15 million. CEO Shebab Mokhtar refused to make a comment concerning this speculation.

Speaking about how Appetito financed the acquisition of Lamma not so long after raising $2.5 million, the CEO did say that “We’ve been very cost-efficient with solid unit economics from day one. The fact that we were able to do so much with so little is great evidence. Moreover, we’ll be closing an eight-figure round soon to foster our expansion even further.” 

Lamma was founded by Yassir El Ismaili, Hamza Guesi, and Koussi Aymen. Back in 2020, Lamma launched in Tunisia as a carpooling service and quickly shifted to a quick commerce platform. It delivers groceries, fashion items, and personal care items to people in Tunisia and Morocco.

As part of the deal, Lamma’s team, its three dark stores, and its distribution centre will all be integrated into Appetito with Lamma’s CEO Yassir El Ismaili joining Appetito as its Chief expansion and growth officer.

According to Appetito, the deal will make it Africa’s largest q-commerce player, and says this claim is based on the number of markets it currently operates in. “No other q-commerce player in Africa operates in such big markets,” Appetito’s CEO said.

It is the company’s plan to become the biggest q-commerce player in both established and emerging markets.

 

Source: TechBooky Business

Related Posts:

  • Egyptian On-demand Warehousing Platform Khazenly Raises $2.5m
    Egyptian On-demand Warehousing Platform Khazenly Raises…
  • Egypt's Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations
    Egypt's Mylerz Raises $9.6m To Scale Its E-commerce…
  • Here Are Some Of The Latest Trends In On-demand Food Delivery Service
    Here Are Some Of The Latest Trends In On-demand Food…
  • Coinbase Acquires AI Startup Agara For Over $40m
    Coinbase Acquires AI Startup Agara For Over $40m
  • Blnk, An Egyptian Fintech Startup Providing Customer Credit, Secures $32 Million Funding In Debt And Equity
    Blnk, An Egyptian Fintech Startup Providing Customer Credit,…
  • Egypt's Health Startup Vezeeta Lays Off 10 Percent Of Workers
    Egypt's Health Startup Vezeeta Lays Off 10 Percent Of…
  • Egypt's Thndr Raises $20M In Series A Funding Co-led By Tiger Global
    Egypt's Thndr Raises $20M In Series A Funding Co-led By…
  • Nigerian Online Lender, Payhippo Acquires Maritime Microfinance Bank
    Nigerian Online Lender, Payhippo Acquires Maritime…
Tags: acquisitionappetitoegyptlammastartup
Femi

Femi

Paul Balo is a wireless communications technologist with interests in VoIP and 5G technologies. He leads the writing team at TechBooky

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

Loading

Recent

Tesla Cybertruck Mass Production Won’t Start Until 2024

Tesla Cybertruck Mass Production Won’t Start Until 2024

January 27, 2023
Apple Reportedly Delays Development Of Its Own WiFi Chips

Apple Reportedly Delays Development Of Its Own WiFi Chips

January 27, 2023
Google Commits To Complying With EU Laws On Its Services

Google Commits To Complying With EU Laws On Its Services

January 27, 2023
Airtel Launches Its eSIM Technology In Nigeria

Airtel Launches Its eSIM Technology In Nigeria

January 27, 2023
In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

January 27, 2023
How And How Not Gaming Can Be Used In Solving Real Problems

How And How Not Gaming Can Be Used In Solving Real Problems

January 27, 2023
Tesla Sues Former Employee For Allegedly Stealing Trade Secrets

Tesla Made The Most Money In 2022, But Its Future Still Rocky

January 26, 2023
Shutterstock Introduces Its Generative AI Image Tool

Shutterstock Introduces Its Generative AI Image Tool

January 26, 2023
Meta Agrees To $725M Settlement Of Cambridge Analytica Lawsuit

Meta Set To Reinstate Trump’s Facebook And Instagram Accounts

January 26, 2023
Here’s How ChatGPT Can Help Improve Your SEO

Here’s How ChatGPT Can Help Improve Your SEO

January 25, 2023

Browse Archives

January 2023
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
3031 
« Dec    

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 24 other subscribers.

Receive top tech news directly in your inbox

Loading

Popular Tags

AI (252) amazon (95) android (281) app (610) Apple (473) artificial intelligence (265) business (338) china (113) cloud (135) cryptocurrency (158) ecommerce (109) enterprise (239) facebook (472) gadget (448) gaming (160) google (545) government (381) guest post (108) instagram (137) internet (352) ios (249) iphone (210) microsoft (261) mobile (281) new feature (287) nigeria (276) privacy (135) research (134) samsung (139) security (374) smartphone (235) social media (671) software (415) startup (268) streaming (140) telecom (157) tips (340) transport (104) twitter (216) united states (191) users (132) videos (115) website (159) whatsapp (129) youtube (106)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

Popular Post

  • Trending
  • Comments
  • Latest
Download Free Editable Resume Templates – Word / Docx – 2022

Download Free Editable Resume Templates – Word / Docx – 2022

July 25, 2022
The Best Free PC Games

The Best Free PC Games

July 29, 2022
Recover Permanently Deleted Emails From iCloud Manually

Recover Permanently Deleted Emails From iCloud Manually

March 5, 2022
Resume and Cover letter Templates for free

Resume and Cover letter Templates for free

July 25, 2022
How is Technology Changing Our Definition of What It Means to Be a Human?

How is Technology Changing Our Definition of What It Means to Be a Human?

April 1, 2018
[Fixed] “Outlook Running Slow Windows 10” Issue

[Fixed] “Outlook Running Slow Windows 10” Issue

February 12, 2020
Tesla Cybertruck Mass Production Won’t Start Until 2024

Tesla Cybertruck Mass Production Won’t Start Until 2024

January 27, 2023
Apple Reportedly Delays Development Of Its Own WiFi Chips

Apple Reportedly Delays Development Of Its Own WiFi Chips

January 27, 2023
Google Commits To Complying With EU Laws On Its Services

Google Commits To Complying With EU Laws On Its Services

January 27, 2023
Airtel Launches Its eSIM Technology In Nigeria

Airtel Launches Its eSIM Technology In Nigeria

January 27, 2023
In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

January 27, 2023
How And How Not Gaming Can Be Used In Solving Real Problems

How And How Not Gaming Can Be Used In Solving Real Problems

January 27, 2023

Recent News

Tesla Cybertruck Mass Production Won’t Start Until 2024

Tesla Cybertruck Mass Production Won’t Start Until 2024

January 27, 2023
Apple Reportedly Delays Development Of Its Own WiFi Chips

Apple Reportedly Delays Development Of Its Own WiFi Chips

January 27, 2023
Google Commits To Complying With EU Laws On Its Services

Google Commits To Complying With EU Laws On Its Services

January 27, 2023
Airtel Launches Its eSIM Technology In Nigeria

Airtel Launches Its eSIM Technology In Nigeria

January 27, 2023
In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

January 27, 2023
How And How Not Gaming Can Be Used In Solving Real Problems

How And How Not Gaming Can Be Used In Solving Real Problems

January 27, 2023
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite