Riyadh - Sharikat Mubasher: The UAE-based logistics solutions provider Cargoz plans to start operations in Saudi Arabia during the first quarter (Q1) of 2024 as part of its regional expansion plans, the company’s statement revealed.

This decision followed Cargoz’s successful closure of a seed funding round led by Nama Ventures, RAZ Holding, Innovest Properties, and key regional family offices as well as angel investors.

The company did not unveil the value of the round.

Founded in January 2022, Cargoz links small and medium-sized enterprises (SMEs) with warehousing companies that have extra capacity.

Premlal Pullisserry, Co-founder and CEO of Cargoz, said: “With many software products rolling out in the coming months, we hope to provide the best experience for SMEs that are looking for storage in both the UAE and shortly in Riyadh too.”

Meanwhile, Mohammed Alzubi, Founder and Managing Partner of Nama Ventures, stated that the funding round will enable Cargoz to support its clients in the UAE and accelerate its expansion in Saudi Arabia with its innovative smart technology offerings in the warehouse and storage field.

“We're truly excited to see what this team has to offer regional SMEs and become their preferred storage partner,” Alzubi added.

Cargoz aims to change the way the warehousing industry has been functioning over the past many decades by building an advanced technology platform that enables SMEs to have access to quality warehousing space at any location, any type, and any size.