Funding Roundup: Logidoo, Alvys and Others Bag Fresh Fundings
It has been a great couple of weeks for startups in the e-commerce, logistics, and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 5 of their notable achievements:
Logidoo
A $50,000 grant fund has recently been acquired by African logistics startup Logidoo, an online logistics platform founded in 2019. The business provides real-time shipment tracking and logistical services. In the long run, Logidoo wants to build a highly effective network, lower operating expenses and transit times, and increase customer satisfaction. So with the money, the business intends to optimize logistical procedures throughout Africa by streamlining transactions and shipping operations. It will also be able to focus on developing intelligent algorithms that will plan out delivery routes, shorten delivery times, as well as use less fuel and emit fewer pollutants.
Year Founded: 2019
Founder(s): Tasmir Ousmane Traore
Location: Casablanca, Morocco
Latest Funding: US$50K
Lead Investor(s): International Development Research Centre
OTO
The Saudi logistics platform OTO is planning to grow into Turkiye and the United Arab Emirates after a successful SR30 million ($8 million) series A funding round. This follows a previous raise of SR12.3 million from venture capital funds and angel investors including Middle East Venture Partners, Derayah Ventures, and 500 Global. Supporting Vision 2030 goals, this funding helps Saudi Arabia achieve its National Logistics Strategy, which aims to place the Kingdom among the top 10 countries in the world by the end of the decade.
Year Founded: 2019
Founder(s): Mohammad AlRazaz and Muhammad Furkan Uzar
Location: Riyadh, Saudi Arabia
Latest Funding: US$8M Series A
Lead Investor(s): Sanabil Investments
Alvys
Alvys, the next-generation supply chain management and logistics operating platform, has announced recently that it has completed a $20.5 million Series A funding round. Titanium Ventures (previously Telstra Ventures) led the round, joined by RTP, Bonfire, and new investor Picus Capital. This round's achievement demonstrates Alvys's position as a pioneer in supply chain management and logistics. Alvys has witnessed a sharp increase in the number of its customers, and with this funding, it can expand its research and development activities and hire top talent to tackle challenging problems in the sector.
Year Founded: 2015
Founder(s): Nick Darman
Location: California, United States
Latest Funding: US$20.5M Series A
Lead Investor(s): Titanium Ventures
Ocula Technologies
Growing SaaS business Ocula Technologies Holdings Ltd., which specializes in giving AI insights to e-commerce companies, has announced that it has raised £3.25 million in series A funding. The funding round was headed by the UK-based venture capital company Praetura Ventures. "We are pleased to welcome Praetura on board, and we look forward to working closely with them and their network," stated Richard Brown, CEO of Castelnau (a founding shareholder in Ocula). Ocula will have the runway to grow its workforce, improve its products, and attract more customers thanks to this funding round. We are eager to witness the success that this should bring as long-term Ocula investors."
Year Founded: 2021
Founder(s): Thomas McKenna and Dr. Gregory Fletcher
Location: Belfast, United Kingdom
Latest Funding: £3.25M series A
Lead Investor(s): Praetura Ventures
EverFence
EverFence, founded by CEO Matt Sivewright in 2020, has secured $7 million in a Series A fundraising round headed by HIPstr, HighPost Capital’s Early-Stage Investment arm. The company offers contractors guaranteed projects with complete transparency on timing, cost, materials, and profitability as well as provides an online buying experience for homeowners. In order to spare service providers from the laborious backend logistics, it also offers complete back-office assistance. EverFence plans to utilize the funds to develop its workforce, improve technology, and reach new markets.
Year Founded: 2020
Founder(s): Matt Sivewright
Location: California, United States
Latest Funding: US$7M Series A
Lead Investor(s): HIPstr
