logistics startup Cargoz has secured seed funding led by Nama Ventures with the participation of RAZ Holding, Innovest Properties, and key regional family offices and angels in the logistics space.
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Cargoz will be using its seed funding primarily to launch its operation in KSA Q1 of 2024.
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“I think we underestimated the pain and frustration of finding on-demand storage for SMEs and how broken and stressful that experience was. The kind of growth we have seen in the last several months gives us an indication that we are solving a huge problem that has existed for several decades now. With many software products rolling out in the coming months, we hope to provide the best experience for SMEs that are looking for storage in both the UAE and shortly in Riyadh too,” says Premlal, co-founder and CEO.
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“We first led the Cargoz pre-seed round back in June 2022, and we’ve been very impressed with the progress and traction that Premlal and Lijo have achieved in this short time,” said Mohammed Alzubi, founder and managing partner of Nama Ventures. “They’ve been able to demonstrate the significant need that SMEs have for flexible storage. This current round will allow Cargoz to continue supporting its clients in the UAE and also expand to KSA with its innovative smart technology offerings in the warehouse and storage space. We’re truly excited to see what this team has to offer regional SMEs and become their preferred storage partner.”
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About Cargoz
Cargoz was founded in January 2022 by Premlal Pullisserry (CEO) and Lijo Antony (CTO). Premlal has more than 20 years of combined warehousing and logistics experience in the GCC. Cargoz.com is a fast-growing warehousing & logistics startup in Dubai, UAE. Cargoz is Airbnb for commercial warehouses.
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Cargoz connect SMEs, who need flexible on-demand warehouses, with warehouse owners and operators, who have empty or unused space. Cargoz is building an advanced technology platform that will enable SMEs to have access to quality warehousing space at any location, any type, and any size.
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