Shipsy to invest USD 10 mn in the region + to help boost regional SMEs’ logistics operations

Logistics startup Shipsy is investing USD 10 mn in the region: Logistics management platform Shipsy is investing USD 10 mn over the next five years to develop technology innovation and R&D, the company said in a statement, without clarifying in which countries it will pour its investments.

The goal: To boost regional companies’ supply chain operations. “Technologies like AI, automation, ML, IoT, Blockchain and data analytics will create numerous employment opportunities and unlock efficiencies that will help logistics stakeholders build sustainable, agile and cost-efficient logistics processes,” Soham Chokshi, CEO and cofounder of Shipsy said in the statement.

The AI-powered platform provider also inked an MoU with Monsha’at — Saudi Arabia’s Small and Medium Enterprises General Authority — to offer its tech at a significant markdown to clients channeled through the authority, on the sidelines of Biban 23 Forum.

About Shipsy: Founded by Soham Chokshi (LinkedIn), Dhruv Agrawal (LinkedIn) and Harsh Kuma (LinkedIn), the SaaS-based logistics management platform provides end-to-end supply chain and logistics solutions. Shipsy closed a USD 25 mn Series B round in 2021.