Heading: Transportr Secures Eight-Figure Seed Funding to Expand in UAE and Saudi Arabia
Transportr, a digital logistics platform based in the UAE, has successfully concluded its eight-figure seed funding round. The funding was led by Ittihad Ventures Holding and Industrial Capital Group. Established in 2020, Transportr acts as a multimodal digital freight marketplace, connecting shippers and carriers across various industries. The platform aims to facilitate efficient, transparent, and cost-effective movement of goods. With the funding, Transportr plans to drive its growth within the UAE market and expand into Saudi Arabia, tapping into the thriving logistics sector in the region. The company is also preparing for its next series A funding round.
Heading: Addressing Concerns in the Logistics Industry
Transportr addresses several concerns in the logistics industry, including freight rates, manual processes, enhanced visibility, traceability, and customer service. The platform offers a one-stop-shop digital solution for companies to manage all their supply chain activities. By aggregating data and utilizing artificial intelligence, Transportr aims to provide significant cost savings and access to data analytics for its partners. The platform’s notable capability lies in its ability to compare rates offered by various carriers, empowering shippers to make well-informed decisions about their shipping choices.
Heading: HashMove Raises Pre-Series A Funding for Expansion and Relocation
UAE-based logistics platform HashMove has raised an undisclosed amount in a pre-series A funding round. The funding was led by Bahrain’s Bunat Ventures in collaboration with a prominent Saudi business group. HashMove provides solutions for various logistics needs, including rate sourcing, booking capabilities, and end-to-end cargo movements and tracking. The raised funds will play a crucial role in HashMove’s expansion plans and the relocation of its headquarters to Saudi Arabia. By establishing a strong presence in Saudi Arabia, HashMove aims to enhance its service offerings and strengthen its network in the region. The company has already signed deals with Saudi companies, including United Warehousing Co.
Heading: UzOman Invests in Swiss Fintech Company Zood
UzOman, a collaborative investment fund established by the Omani and Uzbek sovereign wealth funds, has made an undisclosed investment in Swiss fintech company Zood. Zood operates as a comprehensive digital lending platform, offering financial technology, e-commerce, and logistics solutions. The investment from UzOman aims to drive digital lending innovation in Uzbekistan and foster the growth of the fintech sector in the country. The capital infusion will support Zood in expanding its operations and enhancing its digital lending services. The collaboration between UzOman and Zood signifies a mutual commitment to leveraging technology and finance to advance the economic landscape of Uzbekistan.
Heading: VMS Acquires Stakes in Egyptian Start-Up Accelerator Cash Cows
Saudi Arabia-based venture studio VMS has acquired minority stakes in Egyptian start-up accelerator Cash Cows. The acquisition is part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries and the wider MENA region. The partnership will see Cash Cows and VMS launching a joint platform for exchanging ideas, collaboration, and mutual learning. The platform will provide startups, investors, and entrepreneurs with access to critical decisions that ensure their success. VMS supports talented startups entering the Saudi market and provides them with guidance, resources, expertise, and connections. The partnership between VMS and Cash Cows aims to provide resources and support for startups and draw a clear map for investors to achieve excellence in the highly competitive market.
In conclusion, Transportr, HashMove, UzOman, and VMS are making significant strides in the logistics and fintech sectors in the Middle East. With their innovative solutions and strategic partnerships, these companies are poised to drive growth, enhance efficiency, and revolutionize the industries they operate in.