Lorryz raises $1.4 million in seed funding
Dubai-based online freight marketplace Lorryz has raised $1.4 million in a seed round, it told MENAbytes today. The investment came from Emirates Investment and Development Center and i-Cell Telecom Group.
Founded last year by Adnan Ahmad, Lorryz connects cargo owners with truckers (both individuals and companies), allowing them to book trucks to move their cargo in the United Arab Emirates & Pakistan.
Adnan Ahmad, the founder and CEO of Lorryz comes from a liner shipping and logistics background with over fifteen years of experience in the industry. Prior to starting Lorryz, he was serving as a Senior Vice President of Global Feeders, a Dubai-based shipping company with operations across the Middle East, Asia, and Africa. Adnan had started his career as a master mariner and left the sea after ten years of service.
For truck drivers and transportation companies, the startup says, it helps with lead generation and eliminating waste at backhaul by matching demand with supply, providing more business and improving carbon footprint.
In the United Arab Emirates, Lorryz is offering its services to businesses only, helping them ship their cargo within the country and overseas in Saudi. In Pakistan, Lorryz is currently running a pilot of B2C services allowing individuals to book trucks for moving heavy items.
Lorryz’ app (that’s available for both Android and iOS), the startup claims, offers real-time tracking (for cargo owners to track their shipment), instant pricing. The startup also offers operational dashboard reports for both cargo owners and truckers.