Moroccan transport and logistics firm CloudFret has secured EUR 2 mn (USD 2.1 mn) from investors AfriMobility and Azur Innovation Fund, according to Afrikan Heroes. The startup will use the funds to to introduce a new solution to optimize empty truck returns, especially in the intra-European market. The startup also plans to double its workforce by the 2024 year end, according to the report.

Previous funding rounds: The startup raised USD 1 mn back in 2022 from Plug and Play, PRC Ventures ICAV, Azur Innovation Fund, AfriMobility, and business angel Khalid Zitouni, which was said to be used to enable the startup to expand into European and African markets.

About CloudFret: Established in 2021 by Driss Jabar (Linkedin), CloudFret is a digital platform that links truck loaders with carriers across Europe and Africa, according to its website. CloudFret currently serves 130 shipper clients and 900 transport companies that operate some 7k vehicles across France, Spain, Morocco, Senegal, Portugal, and Italy, according to the outlet.

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