Saudi logistics aggregator Oto raises $8 million Sequence A to simplify delivery for on-line shops 

Riyadh-headquartered logistics startup Oto has raised $8 million in a Sequence A spherical led by PIF-owned Sanabil Investments, it introduced in a press release on Monday. The spherical was additionally joined by Saudi’s Sadu Capital, UAE’s Iliad Companions, Jordan’s Propeller, and US-based Soma Capital. The spherical takes Oto’s whole financing to over $11 million.

Based in 2019 by Mohammad AlRazaz and Muhammad Furkan Uzar, Oto dubs itself as a delivery gateway that allows on-line retailers to handle, ship, monitor, and analyze their delivery and storage actions, from one platform. The startup hyperlinks on-line retailer house owners with greater than 250 native and worldwide delivery corporations and ecommerce platforms to automate each side of the delivery course of.

The web retailer house owners should handle and ship their orders utilizing completely different suppliers which typically signifies that they’ve to make use of completely different dashboards to handle all of it. Oto streamlines all of that by its platform, permitting the retailers to ship, handle and monitor their orders from a single place.

A few of the ecommerce and logistics platforms it gives integrations for embody Shopify, WooCommerce, BigCommerce, OpenCart, Salla, Zid, Aramex, FedEx, DHL, Smsa, UPS, Zajil, Careem, and Yango.

The retailers have the choice of connecting their very own delivery contracts to their Oto account or purchase them from Oto, which has 20 native and worldwide delivery corporations as companions, providing discounted charges to its retailers.

The startup at present gives plans ranging from $53 (SAR 199) monthly and has a free tier as effectively.

It claims to be serving over 10,000 native and worldwide manufacturers by its platform and stated that it has doubled its income on a year-over-year foundation and skilled vital development by way of orders processed.

Mohammad AlRazaz, the co-founder and CEO of Oto, commenting on the funding, stated, “Securing this funding spherical is a testomony to our workforce’s dedication and our dedication to reworking the delivery and logistics sector consistent with Saudi Imaginative and prescient 2030. We’re targeted on delivering progressive options that allow retailers to streamline their operations and handle logistics with unmatched effectivity.”

A spokesperson from Sanabil Investments, stated, “The previous couple of years have put a big highlight on the delivery business and elevated the necessity for good delivery options. OTO has constructed a platform with a totally built-in set of functionalities to assist corporations of all sizes and shapes meet their logistics necessities. We’re excited to companion with them to assist their development plans throughout the area.”

The Saudi startup plans to make use of the fund to additional strengthen its presence in Saudi Arabia, UAE, and Turkey. It additionally goals to introduce enhancements on its platform to assist on-line retailers ship quicker and provide higher delivery expertise to their clients.

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