Nama Ventures & RAZ Group (KSA) leads’s bridge round

Nama Ventures Venture Capital Funding Bridge Round

Cargoz is a logistics startup that connects SMEs looking for warehousing space with warehousing companies who has extra capacity, like Airbnb but for commercial warehousing & storage, has secured an undisclosed amount in Bridge Funding from Nama Ventures, RAZ Group (KSA) and a select few angel investors who are key Logistics industry key figures from the UAE & KSA. After Covid, the SMEs who had to suffer the most, no longer want to get into any yearly leasing of warehouses or have any expensive storage contract. They are looking for storage space on short term with monthly or weekly billing, and pay for only the space they use. On the other hand, there are warehousing owners and operators, who have plenty of extra capacity which otherwise is unused.

Cargoz platform will connect these two parties and assist SMEs avail on-demand storage in a very simple to use platform. Cargoz was founded in January, 2022 by Premlal Pullisserry (CEO) and Lijo Antony (CTO). Premlal has more than 10 years warehousing and logistics experience in the GCC. Lijo has more than 14 years of software development experience.

‘Since our pre-seed funding, we have recorded significant growth in the last 8-9 months it appears like we are solving a huge problem that has existed for several decades now.  We underestimated the pain of finding on-demand storage for SMEs and how broken and stressful that experience was. This bridge fund will help us continue our growth in the UAE and prepare our soft launch in Riyadh by early Q3, 2023’.

“I have always said that a team with complementary skill sets is a winning team, and ever since Cargoz’s pre-seed round, they have not failed to  show amazing traction and numbers. We are always ready to double down on our winners and are more than happy to lead their bridge round. I wish them all the success and growth.” said Mohammed Alzubi.

Picture of Mohammed Alzubi

Mohammed Alzubi

About Me

Mohammed is the Managing Partner of Nama Ventures, a seed stage fund focused on fueling MENA tech innovation, particularly in KSA. Mohammed can be reached on twitter @mzu3bi

Recent Posts

Leave a Reply

Enter your information below to join our mailing list