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Sunday, 22 September 2019

Egypt’s Halan to launch in Ethiopia before the end of 2019

STARTUP WATCH- Halan to launch in Ethiopia this year: Cairo-based tuk-tuk and motorcycle ride-hailing startup Halan plans to begin operations in Ethiopia before the end of 2019,CEO and founder Mounir Nakhla told Reuters. The company is set to begin operations in Adama, some 150 km away from the capital city of Addis Ababa, where it aims to recruit the 1k vehicles currently in operation before launching countrywide. Halan, which was founded in November 2017 and currently operates in 20-25 cities in Egypt and Sudan, also plans to expand to more cities in Sharkeya, Dakahlia, Damietta, Qena, and Gharbeya this year. Nakhla intends for Halan to become pan-African in the long term, saying he sees tremendous potential for growth on the continent.

Background: Halan uses tuk-tuks and motorcycles to transport passengers and goods. The app currently has some 10k active drivers per month and completes several mn rides per month, almost half a mn of which are in food delivery. In December, Halan raised mns in a series A round from a group of investors, including Algebra Ventures and Battery Road Digital. It is currently in the midst of a series B funding round, and has raised “slightly less than USD 20 mn,” while employing over 100 people, Nakhla said.

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