In FY20, MENA startups attracted total venture capital of $704 million across 564 startups where UAE, Egypt and KSA topped the list. According to Magnitt’s 2019 Venture Investment Summary report, Delivery & Transport sector stood at first place in terms of amount raised in the last fiscal year, that comes to 19 percent of the investments closed across all sectors of the MENA startup ecosystem.
Today, we would like to list down the top-funded delivery & logistics startups in the MENA region until FY20.
Most-funded delivery & logistics startups in MENA
The following list is in the descending order of funding amount raised by these logistics startups.
1. Carriage
Founded in 2015 by Abdulla Al-Mutawa, Jonathon Lau, Khaled Al Qabandi, and Musab Al-Mutawa, Carriage is a Kuwait-based online delivery platform that aims to deliver in the most efficient manner by creating a high-quality platform as well as handling all the logistics which include grocery items, electronics, games, pharmaceuticals, pet supplies, optics, cosmetics, and much more. The company offers the fastest delivery service in the Middle East with an estimated average delivery time of 25 minutes with GPS live tracking that allows you to view your order while being delivered to your desired location. The company was acquired by Delivery Hero in May 2017 for $100 million.
Total funding to date: $101.3 Million
Notable funding rounds
- Seed round: January 2016, $1.3 million from undisclosed investors
- Acquisition round: $100 million from Delivery Hero
2. Fetchr
Dubai, UAE-based logistics startup Fetchr was founded in 2012 by Idriss Al Rifai and Joy Ajlouny. The company helps local merchants and global brands build, launch and grow profitable eCommerce businesses with an easy to use proprietary shipping and logistics solution. With our app and a simple tap, we can locate your exact location allowing us to deliver packages to your phone faster and more efficiently. Fetchr solves the problem of no physical addresses in emerging markets.
Total funding to date: $63.2 Million
Notable funding rounds
- December 2019, $10 million from New Enterprise Associates (NEA)
- May 2017, $41 million from New Enterprise Associates (NEA) and NGP Capital
- Jun 2015, $11 million from New Enterprise Associates (NEA)
Other notable investors
- BECO Capital
- VentureSouq
- iLiad Partners
3. TruKKer
Founded in 2016 by Gaurav Biswas, Pradeep Mallavarapu and headquartered in Abu Dhabi, UAE, TruKKer is a technology-enabled truck aggregator that operates multiple truck types for multiple end markets. It delivers innovation to trucking with on-demand aggregation, with automated booking, real-time tracking of trucks, smart asset utilization, and cost-efficiency. With TruKKer, users can book a truck in less than 60 seconds with instant pricing and guaranteed availability, offering rates for a single trip, long-term hire, or for moving individual items.
Total funding to date: $34.4 million
Notable funding rounds
- November 2019, $23 million Series A round led by Endeavor Catalyst, IFC (International Finance Corporation – World Bank), ILIAD Partners, OTF Jasoor, RTF, Shorooq Partners, and STV
- May 2019: 3$ million in a venture round led by International Finance Corporation
- February 2019: $4 million from iLiad Partners
Other notable investors
- Raed Ventures
- Riyad Taqnia
4. iMile
Founded in 2917 by Rita Huang Zhen, iMile is a logistics and courier services provider across the Middle East. It’s the first courier company providing smart logistics and courier services to e-commerce businesses and brings the unique value of solving Cash-On-Delivery (COD). iMile offers a wide range of services like Cash-on-Delivery with tracking, realtime online tracking, 24 hours customer support through email, chat, social media, SMS, international transport, overseas warehouse, and last-mile delivery.
Total funding to date: $34.4 million
Notable funding rounds
- January 2019: $10 million in a Pre-Series A funding round led by a China-based venture capital firm
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