Investments

Dubai-based Wimo raises $500,000 in seed funding for its delivery logistics management platform

Dubai-based delivery logistics platform Wimo has raised $500,000 in seed funding from Dubai Angel Investors (DAI) and some other regional angel investors, the startup announced today.

Founded in 2017 by Wissam Aboueida and Mohamed Bahaa, Wimo automates logistics operations of companies allowing them to manage and track deliveries from one place. The platform is being used by courier companies and business that have their in-house fleet, in United Arab Emirates and Saudi Arabia. Since launching in 2017, the platform has processed over 3 million deliveries for clients in both the countries.

Wissam Aboueida, CEO of Wimo, commenting on the occasion, said,  “Wimo was designed with 2 main objectives in mind, easy-to-use software and logistics automation. Companies from different industries face daily challenges in managing their last-mile ground teams and till date leading courier companies and retailers are relying on excel and outdated clunky and complex systems to manage their day-to-day operations.”

“Last mile delivery costs still make up at least 30% of total revenues. Wimo is here to change that, embed more automation and reduce total costs for a business to run their logistics,” he added.

Wimo allows businesses to track their agents in real time and enable their customers to track the deliveries. The platform has a built-in algorithm that will suggests optimized routes. It comes with set of APIs, SDKs, and plugins that make it easy to integrate with different software that a business may be using already.

The startup also allows its agents to record digital proof of delivery in form of digital signatures, photos, notes or ID card. Businesses can use all the data from their operations and drivers on the platform to create customized reports.

“With this new funding, we are very excited to work with DAI to expand our presence in Dubai and Riyadh and expand our engineering team to enrich our platform with better automation and enterprise capabilities. Wimo provides a low-touch plug and play solution to cater for last mile teams and perfect end-customer experiences,” noted Wissam.

Tarek Amin, co-founder of Dubai Angel Investors, said, “As an investor, we’ve been very selective about the companies that we have backed, we are confident that WIMO has a winning team and a fantastic game-plan to help Enterprises remain competitive and keep their costs down using the latest logistics automation and best user experience and design practices. We are excited to support them in bringing the platform to further companies in the region.”

The startup’s most recent product is Wimo Ship that allows ecommerce busineses to control their margins, rates, and shipping policies at a customer or product level and automate their shipping management with ease, the startup said in a statement.

“Wimo’s latest offering Wimo Ship, launched in November 2018, brings this mission one step closer to reality. We are excited about the 2019 outlook as we continue to on board leading couriers and retail clients on their digital transformation roadmap, actively optimizing their customer journey and process automation,” noted Mohamed Bahaa, CTO of Wimo.

The startup has offices in Riyadh and Dubai.

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