UAE-based logistics startup Cargozhas secured an undisclosed bridge funding from Saudi VC firmsNama Ventures and Raz Group, and other angel investors involved in the logistics industry, according to a press release. Cargoz did not respond to Enterprise Logistics’ request for details on the value of the round ahead of dispatch time.

Where will the money go? The funds will be used to finance the company’s growth in the UAE, and to prepare for launch in Riyadh by 3Q 2023, according to the statement.

Background: Cargoz raised an undisclosed sum in a pre-seed round from Nama Ventures in August 2022, which was used to grow the company and expand its operations outside of Dubai to other emirates.

About Cargoz: Founded in 2022 by Premlal Pullisserry (Linkedin) and Lijo Antony (Linkedin), Dubai-based Cargoz is a warehousing and logistics startup that connects SMEs who need flexible, on-demand warehouses to warehouse owners and operators who have empty or unused space.

OTHER STARTUP NEWS-Morocco’s PrestaFreedom secures USD 1.1 mn to improve logistics operations: Moroccan home services startup PrestaFreedom has secured USD 1.1 mn (MAD 11 mn) in funding from Azur Innovation Fund, Agence Marocaine de Presse reports. The funds will be used to enhance the startup's logistics and technology infrastructure, optimize its supply chain, and grow its operations, which includes expanding into several African markets starting next year.

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