- UAE-based same-day delivery platform Swftbox has closed a $2 million Seed round, led by MENA Technology Fund, joined by Polymath Ventures, AirAngels and Ithraa Investment Company alongside other investors from the US, Europe, UAE and Saudi Arabia.
- Founded in 2020, Swftbox helps e-commerce retailers enhance customer experience by using AI to optimise routes and automating operations to boost service levels.
- The new funding will help Swftbox to scale its services across the region, and onboard more e-commerce retailers to its platform.
Source: Gulf Business
Swftbox, the AI-powered, same-day delivery platform, has closed a seed round worth $2 million. MENA Technology Fund led the funding, joined by Polymath Ventures, AirAngels and Ithraa Investment Company alongside strategic investors from the United States, Europe, UAE and Saudi Arabia.
The Abu Dhabi-based Hub71 company will continue to scale its services across the region, working with e-commerce retailers and courier companies to enhance the delivery experience.
Since launching in June 2020, swftbox has helped e-commerce retailers enhance customer experience through faster and more seamless deliveries. The platform uses proprietary algorithms for optimising routes and automating operations to boost service levels, increase transparency and bolster profitability for retailers and courier companies.
Swftbox’s easy and intuitive tech bridges communication gaps among retailers, couriers and shoppers to create a seamless shopping journey and improve operational accuracy.
The company has partnered with retailers and has achieved success rates exceeding 95 per cent on same-day deliveries, a statement said.
“We built swftbox with user experience top of mind. Whether it’s the shopper, retailer, courier company, or driver, experience is what creates the most value for them in both the short and long terms. We carefully designed all touch points from the ground up. We automated redundant processes to reduce human error, built smart algorithms to solve complex sorting and routing problems and added an intuitive interface to simplify user experience. We will use the new capital to accelerate tech development to further enhance user experience and automation, boost margins, and grow our customer base in the UAE and Saudi Arabia,” said Mohammad Absi-Halabi, co-founder and CEO of swftbox.
Omar Hassan, the co-founder of MENA Technology Fund (MTF), said: “We back companies that are leading the way: swftbox is changing the logistics landscape in the Middle East by offering an AI-based platform localised for businesses that need this service to grow. In a short time, they’ve doubled the number of partners, showing the massive potential for this sector in the region. When MTF looks at early-stage investment opportunities, the quality of the founders is of paramount importance. We strongly believe that the swftbox team has the vision and drive to lead the company into its next big milestone in this region and beyond.”
Ali Hashemi, managing director at Polymath Ventures, added: “The team at swftbox has demonstrated consistent execution and growth, capturing market share by solving problems differently in the legacy logistics and delivery space – a space we believe will grow exponentially with the continued shift of consumer behaviour toward online shopping across retail sectors in the region.”