Digital Logistics startup Shuttle raises 7-digit Pre-SEED

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KSA-based digital logistics startup and locker as a service (LaaS) platform Shuttle has successfully raised $1M (SAR 3.75M) in its latest funding round. The Pre-SEED round was led by Impact46 and recorded participation from strategic investors in the region.

Introduced in 2020 by Mohammed Alhassan, Shuttle is upgrading the traditional locker experience with a smart locker driven by leading-edge technology enhancing the logistics space as a whole. Smart locker is a tool for items to be safely stored, exchanged by different parties & backed by a software component that allows interaction to happen automatically. Through Shuttle’s software and its smart locker, end-users can authenticate, pay & receive packages with a fully automated process. 

Funding in the MENA-based Transport & Logistics (T&L) space has grown by more than 3x since full year 2020, alluding to a promising growth for the sector in the future driven by burgeoning investor interest. Closing 31% deals in 2021 as compared to last year, the T&L industry has raised the highest yearly record of funds over the most number of transactions, surpassing the previous all-time record in 2018 by more than $90M. This is in part, was driven by major investments in T&L startups like in the UAE including Lyve Global, Trukkin, and Fenix as well as in Egypt including Bosta, Trella, and Flextock. While digitized freight solutions and asset-light logistics networks raised the lion’s share of investment, T&L Early-Stage rounds ($500K-$3M) backed the emergence of value chain support Tech startups like AI-powered freight management platform Fero, outsourced fleet connector ILLA, and surely LaaS platform Shuttle.


 



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Shuttles’ smart locker is a unique approach to be adopted as it solves three major pain points: first delivery failures, re-scheduling deliveries, and the uncertainty to collect the package within a timeframe. With this solution, the courier can deliver multiple packages in one place, limiting the door-to-door delivery approach, and it’s a win to the customer as it cuts the delivery costs. Mohammed Alhassan, Founder of Shuttle Added “LaaS (Locker as a Service) will be a game-changer in the eCommerce & digital logistics space as its the optimal solution for the business and the end-user. We are grateful to our clients and partners' trust for our unique IP & LaaS, this fund will further help us to improve & IoT infrastructure as well as cover more areas upon our partnerships requests. ”

Shuttle currently has 90 lockers distributed across 9 main cities including Riyadh, Jeddah & Dammam, and soon to cover Saudi. The lockers are placed in +80 facilities utilizing LaaS “Locker as a service” model across hotels, commercial buildings & petrol stations serving more than 300 customers in multiple industries such as the Laundry sector, Auto Safe Storage services in Malls, and Car Rental for key handling. The locker placements can bring value to the facilities by directing individuals to visit the place in order to pick up the order. LaaS “Locker as a service” is a smart way to be adopted, as it brings benefits to all parties involved in its use and it is set to achieve more within the logistics cycle.

 

With this platform-boosting investment, Shuttle will be able to further enhance its Tech stack and support its user acquisition efforts. “With the rapid growth of the eCommerce industry, last-mile delivery solutions are crucial to support this industry's potential. The LaaS solution that Shuttle provides solves many pain points for last-mile including: failed deliveries, returns, and delivery prices. Shuttle's team led by Mohammed Alhassan demonstrates a comprehensive knowledge and know-how in this space that we believe will make smart lockers part of our everyday life as consumers.” Concluded Impact46’s Mohammed Alnasyan.


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