Cairo: Digital logistics platform Transporter has successfully completed an eight-figure seed funding round involving Etihad Ventures Holding and Industrial Capital Group.
In the year Founded in 2020, the UAE company operates as a multimodal digital cargo marketplace, connecting shippers and carriers across various industries to facilitate efficient, transparent and cost-effective movement of goods.
The platform addresses concerns such as freight rates, manual processes, improved visibility, tracking and customer service.
The revenue from the support zone will be instrumental in driving the company’s growth in the UAE market and facilitating its expansion into Saudi Arabia.
Transporter is building to its next Series A funding round.
“Transport has grown to manage all freight modes (road, sea, rail and air) in addition to warehousing, material handling, logistics and more,” said Transport CEO Hassan Kazem.
He added, “Our vision is to provide a one-stop digital solution to manage all its supply chain activities, taking into account environmental, social and governance factors. We aim to harness the power of aggregation and bring value to our partners such as significant cost savings, access to data analytics and artificial intelligence.
Shipping’s specialty is in comparing rates offered by different carriers, empowering shippers to make informed decisions about their shipping options.
HashMove raises pre-Series A to move to Saudi Arabia
UAE-based logistics platform HashMove has successfully raised an undisclosed amount in a pre-series funding round.
Bahrain Coffee Ventures in partnership with a prominent Saudi business group.
Founded in 2017 by Noman Muhammad, Rayan Al Bakri and Sarfaraz Alam, HashMove provides solutions for a variety of logistics needs, including faster access to the first leg of transportation, efficient booking capabilities, and end-to-end cargo movements and tracking.
The funds raised will play a vital role in Hashmov’s expansion plans and relocation of its headquarters to Saudi Arabia. The strategic move aims to leverage the kingdom’s thriving logistics industry and position HashMove at the forefront of the market.
By establishing a strong presence in Saudi Arabia, HashMove can improve its service offerings and strengthen its network in the region.
HashMove’s expansion and relocation to Saudi Arabia should be in line with the company’s long-term vision to become a key player in the Middle East logistics market.
The company has signed agreements with Saudi companies, including third-party logistics powerhouse United Storage Company, based in Jeddah.
The new funding will allow HashMove to increase its capacity, grow its operations and provide even more value to its customers. HashMove has attracted more than 900 logistics providers in 90 countries and aims to change the landscape of global logistics.
Uzoman invested in the Swiss Zod
UzOman Co-Investment Fund, an Omani and Uzbek sovereign wealth fund, recently made an undisclosed investment in Swiss fintech company Zod.
In the year Founded in 2018 by Michael Khoi, Zood operates as a comprehensive digital lending platform, providing a complete ecosystem that includes ZoodPay for financial technology, ZoodMall for e-commerce and ZoodShip for logistics solutions.
The investment from UzOman is strategically aimed at driving digital lending innovation in Uzbekistan.
The mutual investment fund plans to boost the growth and development of the fintech sector in the country by injecting funds into the zone. This capital inflow will help Zod expand operations and further develop digital lending services in Uzbekistan.
“This investment is part of our ongoing efforts to promote and invest in Uzbekistan’s rapidly growing financial sector. Zod’s focus on innovative, convenient and secure payment solutions fits well with Uzoman’s plans to invest in the financial sector in Uzbekistan and empower businesses and individuals with the best financial tools, said Uzoman CEO Mohammad Al Lawati.
The collaboration between UzOman and Zod reflects a shared commitment to use technology and finance to enhance Uzbekistan’s economic landscape.
“Uzoman’s investment is a testament to Zod’s pioneering role in driving financial inclusion in a holistic ecosystem for individuals and businesses in Central Asia and the Middle East. “We are proud to partner with Uzbekistan to further expand our reach and influence by creating economic opportunities in Uzbekistan,” Coy said.
VMS holds a share of cash cows
The startup ecosystem in the Middle East and North Africa is poised for growth as Saudi Arabia-based venture studio VMS has acquired a minority stake in Egyptian startup Accelerator Cash Cows. The share purchase is part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries and the wider MENA region, it said in a press release. The press release also noted that the partnership will see Cash Cows and VMS open a common platform for exchange of ideas, collaboration and mutual learning between them.
The platform provides ways for startups, investors and entrepreneurs to make critical decisions that ensure their success, he added.
VMS Founder and CEO Motaz Saleh Abunouk said that the company’s expansion into the Egyptian market is an important and strategic goal.
VMS supports talented startups entering the Saudi market and provides guidance, resources, expertise and connections.
Cash Cows partner Mohamed Nagati said the partnership with VMS will contribute to building a bridge between Egypt and Saudi Arabia for start-ups, along with expanding the scope of work for both companies.
The coming together of two regional accelerators aims to provide startups with resources and support, and investors to draw a clear roadmap to excel in a highly competitive market, the statement added.
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