Logistics Software as a Service (SaaS) startup zip24 raised a staggering $1.2million in funding to peruse the company’s expansion.
The funding drive was led by London-based Sturgeon Capital and Angel investors – also from the UK – as well as Gulf Cooperation Council (GCC) countries, including Hayaat Group, Teqvisory, and Robert Kay.
The drive will help boost the expansion of the company, allowing for zip24’s solutions to further enable their customers to save substantial revenues that would otherwise be lost to expensive delivery and fulfilment service providers.
The cash will be used to further expand tech, product, support, and marketing teams, with zip24 plans to strengthen operations by deploying direct sales and support personnel in Dubai, United Arab Emirates (UAE) and expand to the UK during the second half of 2021.
Muzaffar Karabaev, CEO of zip24, said: “With our product suite from fulfilment to the last mile, we will ultimately enable our customers to help any e-commerce & on-demand delivery business to become more agile. We have already helped our customers to fulfil and deliver millions of orders over the past 12 months.
“We aim to become the leading logistics technology enabler for our customers in the next phase of our growth. We are enabling e-commerce merchants, retailers, logistics, FMCG companies, and restaurants, particularly start-up operators in the space.
He added: “The focus of zip24 has been in the GCC countries, Pakistan, and Central Asia, but our 100+ customers are in over 20+ countries.
Co-Founder and Executive Director, Asif Keshodia of zip24, added: “Our mission is to provide innovative and fast deployable logistics SaaS stacks to e-Commerce merchants, logistics operators, and other customers.
“We help these customers to improve their experience and to achieve operational cost efficiencies. With our tech stacks, they reduce their dependence on expensive delivery and fulfilment service providers, which sometimes take away a third of the revenues from their merchants.
“You name it – predictive forecasting with AI/ML tools, route optimization, and cross-border tracking. Our solution can do it all, and at a fraction of the cost of their existing service providers. We are in the business of saving our customers’ revenues.”
