UAE-based Swftbox closes $2 million seed round

UAE-based Swftbox closes $2 million seed round

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• November 9, 2022

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• UAE-based same-day delivery platform Swftbox has closed a $2 million seed round led by MENA Technology Fund and joined by Polymath Ventures, AirAngels and Ithraa Investment Company, as well as other investors from the US, Europe, UAE and Saudi Arabia.
• Founded in 2020, Swftbox helps e-commerce retailers enhance the customer experience by using artificial intelligence to optimize routes and automate operations to improve service levels.
• The new funding will help Swftbox expand its services across the region and add more e-commerce retailers to its platform.

resource: Gulf Business

AI-powered same-day delivery platform Swftbox has closed a $2 million seed round. MENA Technology Fund led the round, joined by Polymath Ventures, AirAngels and Ithraa Investment Company, as well as strategic investors from the US, Europe, UAE and Saudi Arabia.

Abu Dhabi-based Hub71 will continue to expand its services across the region, partnering with e-commerce retailers and couriers to enhance the delivery experience.

Since its launch in June 2020, swftbox has helped e-commerce retailers enhance the customer experience through faster, more seamless delivery. The platform uses proprietary algorithms to optimize routes and automate operations to improve service levels, increase transparency and improve profitability for retailers and couriers.

Swftbox’s simple and intuitive technology bridges the communication gap between retailers, couriers and shoppers to create seamless shopping journeys and improve operational accuracy.

The company has partnered with retailers and has a more than 95 percent success rate for same-day delivery, a statement said.

“We built swftbox with user experience first. Whether it’s a shopper, a retailer, a courier or a driver, the experience is what creates the most value for them in the short and long term. We carefully designed it from the ground up All touchpoints. We automate redundant processes to reduce human error, build smart algorithms to solve complex sorting and routing problems, and add intuitive interfaces to simplify the user experience. Mohammad Absi-Halabi, co-founder and CEO of swftbox , we will use the new funding to accelerate technology development to further enhance user experience and automation, increase profit margins and expand our customer base in the UAE and Saudi Arabia.

Omar Hassan, co-founder of MENA Technology Fund (MTF), said: “We support leading companies: swftbox is changing the logistics landscape in the Middle East, providing localized AI platform services to businesses in need of growth. In a short time In time, they have doubled the number of partners, showing the huge potential of the field in the region. The quality of the founders is crucial when MTF looks at early stage investment opportunities. We strongly believe that the swftbox team has the vision and drive to lead The company’s next major milestone into the region and beyond.”

Ali Hashemi, Managing Director of Polymath Ventures, added: “The team at swftbox has demonstrated continued execution and growth, capturing market share by solving problems differently in the traditional logistics and delivery space – we believe that as retail in the region grows The behavior of consumers in the industry towards online shopping.”