Oto Secures $8 Million to Revolutionize Middle Eastern Logistics

by | Jul 26, 2024 | Startups News | 0 comments

Riyadh-headquartered logistics startup ++ has secured $8 million in a Series A round led by PIF-owned Sanabil Investments. Additionally, the round included Saudi’s Sadu Capital, UAE’s Iliad Partners, Jordan’s Propeller, and US-based Soma Capital, bringing Oto’s total funding to over $11 million.

Revolutionizing Shipping for Online Merchants

Founded in 2019 by Mohammad AlRazaz and Muhammad Furkan Uzar, Oto is a shipping gateway designed to streamline logistics for online merchants. By connecting with over 250 local and international shipping companies, Oto automates the shipping process from a single platform. As a result, merchants can manage their operations more efficiently.

Key Features of Oto

First and foremost, Oto offers a Unified Dashboard: Manage and track orders across different providers with ease. Furthermore, it provides Integration with platforms like Shopify, WooCommerce, BigCommerce, OpenCart, Salla, Zid, and major logistics companies like Aramex, FedEx, and DHL. In addition, Flexible Contracts allow merchants to connect their own shipping contracts or purchase discounted rates from Oto’s 20 partner companies.

Affordable Plans

Oto offers plans starting at $53 (SAR 199) per month, with a free tier available. Moreover, the startup serves over 10,000 local and international brands, boasting significant year-over-year revenue growth.

Driving Innovation in Logistics

Co-founder and CEO Mohammad AlRazaz remarked, “This funding round highlights our commitment to transforming the logistics sector in line with Saudi Vision 2030. Our platform enables merchants to streamline operations with unmatched efficiency.” Meanwhile, a Sanabil Investments spokesperson added, “Oto provides a fully integrated platform that meets diverse logistics needs. We are thrilled to support their regional growth plans.”

Future Expansion Plans

Looking ahead, Oto plans to strengthen its presence in Saudi Arabia, UAE, and Turkey. Additionally, the startup is set to introduce enhancements to offer faster and more efficient shipping solutions.

In conclusion, stay updated with the latest in startup news by visiting our blog daily. #Startups #Logistics #FundingNews

Related Articles

Stay Up to Date With The Latest News & Updates

Access Premium Content

Unlock exclusive insights, in-depth analysis, and expert advice tailored for ambitious entrepreneurs. Subscribe to our premium content and take your startup to the next level!

Join Our Newsletter

Stay ahead in the startup world with our curated insights and updates. Subscribe now and get the latest news, analysis, and tips delivered straight to your inbox!

 

14 + 9 =

Follow Us

Connect with us on social media for real-time updates, exclusive content, and to join a vibrant community of MENA entrepreneurs. Follow us and be part of the conversation!