Moroccan logistics startup Cloud Fret raises $1 million

Moroccan logistics startup Cloud Fret raises $1 million

Cloud Fret, Morocco-based logistics startup and digital freight platform, raised $1m from Plug and Play, PRC Ventures ICAV, Azur Innovation Fund, AfriMobi, and business angel Khalid Zitouni.

Driss Jabar founded Cloud Fret in 2021 as a transport and logistics company that connects truck loaders and carriers. The idea for this freight transportation platform came from observing the fact that a number of trucks traverse many kilometers empty.

Cloud Fret uses artificial intelligence technology to detect empty cargo vehicles and direct them to goods to be transported, hence minimizing empty truck returns between Europe and Africa, the same carpooling idea as Blablacar.

“The platform not only benefits loaders and transporters, but it also allows their partners to expand their operations while shortening delivery times. While doing all these, the startup provides real-time updates on the cargo’s journey. Our work in the field has enabled us to launch today a B2B SaaS Marketplace that offers the best transport offers and a broader range of services: FastPay payment after delivery, fuel card with discount and deferred payment, and cargo insurance at the best price on the market,” Driss Jabar, Founder of Cloud Fret, stated. 

The startup will use the fund to expand further into European and African markets and to increase the number of staff while also launching new loyalty services.

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