E-Commerce Logistics SaaS tech start-up zip24 has raised US$1.2 million to fund its growth - MENA startups, innovation, and tech news

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E-Commerce Logistics SaaS tech start-up zip24 has raised US$1.2 million to fund its growth
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E-Commerce Logistics SaaS tech start-up zip24 has raised US$1.2 million to fund its growth

‘The e-commerce business is a force that no investor should overlook.’

E-commerce (electronic commerce) is the electronic purchasing and selling of items through online services or the internet, and Dubai-based logistics are at the forefront of this trend. Zip24 a SaaS start-uphas received US$1.2 million in a pre-series round led by London-based Sturgeon Capital and Angel investors from the UK and GCC nations, including Hayaat Group, Teqvisory, and Robert Kay. With the help of e-commerce, the start-up is also enjoying remarkable success.

Continue reading the article below to know more.

Briefing on the backdrop of Zip24

Zip24 is an on-demand software or “Software-as-a-Service” (SaaS) start-up that automates e-commerce operations management functions. Zip24 forecasts orders, facilitate logistic transactions, retail, warehousing, order shipping and fulfilment, and provides end-to-end delivery tracking through a cloud-based warehouse, delivery management, and enterprise resource planning (ERP) solutions bundle. Zip24, which was founded by Muzaffar Karabaev and Asif Keshodia, former Amazon (MENA) employees. In over 20 countries, the start-up already supports over 100 e-commerce merchants, retailers, shipping services, FMCG businesses, and restaurants.

Concerning the Founders

Its co-founders have considerable e-commerce and logistics experience. Muzaffar is an online entrepreneur with experience in Uzbekistan, the United Kingdom, and the United Arab Emirates. He was the CEO of Wing, an on-demand e-commerce logistics start-up that he co-founded in 2016, before founding Zip24. The Wing was purchased by Amazon MENA (formerly known as Souq.com) in late 2017. After Souq’s purchase by Amazon, Asif Keshodia served as Group CFO of Souq.com and Regional Finance Director of Amazon MENA.

They’ve spent a lot of time working directly with merchants and other players in the regional e-commerce ecosystem, so they know what they’re going through. They partnered up to form Zip24 to overcome logistics concerns.

Co-founder and CEO Muzaffar Karabaev in a statement stated “With our product suite from fulfilment to the last mile, we will ultimately enable our customers to help any e-commerce & on-demand delivery business to become more agile. We have already helped our customers to fulfil and deliver millions of orders over the past 12 months and we aim to become the leading logistics technology enabler for our customers in the next phase of our growth.”

Asif Keshodia, the co-founder and Executive Chairman of Zip24 quoted, “Our mission is to provide innovative and fast deployable logistics SaaS stacks to e-commerce merchants, logistics operators, and other customers. We help these customers to improve their experience and to achieve operational cost efficiencies.”

Creating new SaaS products

Shipox and Storfox, zip24’s cloud-based SaaS stacks for delivery and fulfilment, are currently being improved.

 

  • Shipox: From order generation through delivery, Shipox offers a full delivery management software (DMS) solution. Shipox also has a white-label app, a driver app, and real-time tracking of all delivery workers and vehicles. It can also provide plug-ins and integration engines that connect other e-commerce platforms, such as Magento and Shopify. Shipox also has batch/CSV order-drop functionality from e-commerce websites, supermarkets, pharmacies, restaurants, and other sources.
  • Storfox:zip24’s newest acquisition, is a cloud-based fulfilment engine that offers e-commerce/2PL/3PL firms involved in logistics, warehouse management, and fulfilment a one-stop solution. Storfox will provide a large network of fulfilment networks for ‘pick/pack/ship’ and billing support, with a variety of options, a built-in account management system, and easy & clean invoicing, all done within the system with smooth downstream shipping connectivity to the Shipox stack.

 

Sturgeon Capital’s Background

Sturgeon Capital is a venture capital firm located in London that focuses on investing in and assisting in the development of outstanding digital firms in frontier and emerging countries. It focuses on technology-enabled firms that provide a product or service that addresses a big addressable market’s unmet pain issue.

Furthermore, Zip24 also intends to utilise the cash to improve its product and technology, as well as grow its sales and marketing team, primarily in Tashkent, Uzbekistan. It also intends to have a physical presence in the United Kingdom by the end of the year to facilitate direct sales there.

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