{"id":71109,"date":"2023-05-30T00:00:00","date_gmt":"2023-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/30\/emirati-logistics-startup-cargoz-receives-bridge-funding-to-expand-to-ksa\/"},"modified":"2023-05-30T00:00:00","modified_gmt":"2023-05-30T00:00:00","slug":"emirati-logistics-startup-cargoz-receives-bridge-funding-to-expand-to-ksa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/30\/emirati-logistics-startup-cargoz-receives-bridge-funding-to-expand-to-ksa\/","title":{"rendered":"Emirati logistics startup Cargoz receives bridge funding to expand to KSA"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">UAE-based logistics startup <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.cargoz.com\/\" style=\"\">Cargoz<\/a><\/span><span style=\"font-weight:700\">has secured <\/span><span style=\"font-weight:700\">an undisclosed bridge funding from Saudi VC firms<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.namaventures.com\/\" style=\"\">Nama Ventures<\/a><\/span><span style=\"\"> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/raz.sa\/\" style=\"\">Raz Group<\/a><\/span><span style=\"\">, and other angel investors involved in the logistics industry, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamda.com\/2023\/05\/cargoz-raises-undisclosed-bridge-round-fuel-ksa-expansion\" style=\"\">press release<\/a><\/span><span style=\"\">. Cargoz did not respond to Enterprise Logistics\u2019 request for details on the value of the round ahead of <\/span><span style=\"\">dispatch time.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Where will the money go? <\/span><span style=\"font-weight:400;\">The funds will be used to finance the company\u2019s growth in the UAE, and to prepare for launch in Riyadh by 3Q 2023, according to the statement. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Background:<\/span><span style=\"\"> Cargoz raised an undisclosed sum in a pre-seed round from Nama Ventures in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamda.com\/2022\/08\/cargoz-secures-pre-seed-funding-nama-ventures\" style=\"\">August 2022<\/a><\/span><span style=\"font-weight:400;\">, which was used to grow the company and expand its operations outside of Dubai to other emirates.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About Cargoz<\/span><span style=\"font-weight:700\">:<\/span><span style=\"\"> Founded in 2022 by Premlal Pullisserry (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/premlalpk\/\" style=\"\">Linkedin<\/a><\/span><span style=\"\">) and Lijo Antony (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/lijotantony\/\" style=\"\">Linkedin<\/a><\/span><span style=\"font-weight:400;\">), 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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OTHER STARTUP NEWS-<\/span><span style=\"font-weight:700\">Morocco\u2019s PrestaFreedom secures USD 1.1 mn to improve logistics operations:<\/span><span style=\"\"> Moroccan home services <\/span><span>startup <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/prestafreedom.com\/\" style=\"\">PrestaFreedom<\/a><\/span><span> has secured USD 1.1 mn (MAD 11 mn) in funding from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/azurpartners.ma\/nos-fonds\/azur-innovation\/\" style=\"\">Azur Innovation Fund<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mapnews.ma\/fr\/actualites\/economie\/la-startup-marocaine-prestafreedom-r%C3%A9alise-une-lev%C3%A9e-de-fonds-exceptionnelle-de\" style=\"\">Agence Marocaine de Presse<\/a><\/span><span style=\"font-weight:400;\"> 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.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cargoz plans to use the funds to expand to Riyadh in the third quarter of the year<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[172],"tags":[880,17,31,171,259,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71109","post","type-post","status-publish","format-standard","hentry","category-startup-watch","tag-cargoz","tag-enterprise-logistics","tag-saudi-arabia","tag-startup-watch","tag-startups","tag-uae","wpautop","entry"],"acf":{"mongo_id":"b868c9de-9ae5-42f9-90ce-c6d704a0ea7d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1576.jpg,https:\/\/twitter.com\/cargozcom\/status\/1660140862515580929","photo_position":"above","homepage_title":"","full_issue_title":"Emirati logistics startup Cargoz receives bridge funding to expand to KSA","related_issue":[71104],"teaser":"Cargoz plans to use the funds to expand to Riyadh in the third quarter of the year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.6a4bfe01-d815-4237-a000-664bbff3b1c8.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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