The Saudi logistics technology platform OTO has successfully completed a Series A funding round, raising $8 million (SAR 30 million). This round was spearheaded by Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), with additional investments from Sadu Capital, Iliad Partners, Propeller, and Soma Capital.
Established in 2019 by Mohammad AlRazaz and Furkan Uzar, OTO focuses on streamlining logistics operations, including order shipping, management, tracking, returns, and analysis, all via a unified platform.
“Securing this funding round is a testament to our team’s dedication and our commitment to transforming the shipping and logistics sector in line with Saudi Vision 2030,” remarked Mohammad AlRazaz, Co-Founder and CEO.
The company plans to use its recent funding to grow its footprint in Saudi Arabia, the UAE, and Turkey, while also rolling out new features and improvements to its platform. These initiatives will specifically cater to small to medium-sized businesses (SMBs) and large online retailers, enhancing the speed and efficiency of their shipping processes.
“We are focused on delivering innovative solutions that enable merchants to streamline their operations and manage logistics with unmatched efficiency,” added AlRazaz.
This platform delivers an extensive array of technological solutions that empower merchants to effectively manage, ship, track, and analyze their shipping and storage processes. By connecting with over 250 local and international shipping companies and e-commerce platforms, OTO automates and integrates every facet of the shipping workflow, boosting efficiency and providing a single platform for all logistics needs. Merchants can either link their existing shipping contracts to their accounts or acquire shipping labels directly at OTO’s favorable pre-negotiated rates.
In recent years, OTO has achieved remarkable growth, doubling its revenue and significantly increasing the volume of orders processed annually. The platform now features over 10,000 brands from both local and international markets.
In 2021, OTO raised $3.3 million (SAR 12.3 million) through investments from venture capitalists and angel investors, with contributions from MEVP, Derayah Ventures, and 500 Global.
“OTO has built a platform with a fully integrated set of functionalities to help companies of all shapes and sizes meet their logistics requirements. We are excited to partner with them to support their growth plans across the region,” stated a spokesperson from Sanabil Investments.
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