Moroccan transport & logistics startup, Cloud Fret, secures $390k investment from Azur Innovation Fund
Morocco-based logistics startup Cloud Fret, which connects loaders and transporters as it aims to eliminate empty returns of trucks between the two ends of the Mediterranean has secured $390k from Azur Innovation Fund.
About Azur Innovation Fund
Azur Innovation Fund is a public-private seed fund that aims to finance the capital of innovative startups in Morocco. The fund aims to promote initiatives that are part of Morocco’s development strategy, namely: the Industrial Acceleration Plan, the Green Morocco Plan, and the Morocco Digital Plan. To do this, it is investing in many sectors such as agritech, fintech, biotech, medtech, edtech, cleantech, and more. The fund remains open to innovation in the broad sense and aims to develop the entrepreneurial field in the country, through its multiple collaborations with the various players in the ecosystem (incubators, accelerators, investment funds, banks, etc.).
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What You Need To Know About Cloud Fret
Founded in 2020 by Driss Jabar, Cloud Fret is a transport and logistics startup that connects loaders and transporters. It eliminates empty returns of trucks between the two ends of the Mediterranean by using artificial intelligence technology to detect empty cargo trucks and orient them to cargo which needs to be transported.
Its aim is to optimize the transport of trucks with the help of artificial intelligence which can track the movement of empty cargo trucks and orient them to cargo which needs to be transported. Cloud Fret wants to fully digitize this process in order to optimize transportation costs while reducing the environmental impact of cargo trucks using an ethical and sustainable model.
In fact, not only is the platform servicing loaders and transporters, but also it allows their partners to access opportunities to increase their activities while decreasing the time of delivery. The startup also provides live updates of the cargo’s journey.
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