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UAE startups raise funding to expand to Saudi Arabia

Transportr addresses concerns such as freight rates, manual processes, enhanced visibility, traceability and customer service. (Reuters/File)
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Updated 01 July 2023
Nour El-Shaeri
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UAE startups raise funding to expand to Saudi Arabia

  • Transportr facilitates efficient, transparent, and cost-effective movement of goods
Updated 01 July 2023
Nour El-Shaeri

CAIRO: Digital logistics platform Transportr has successfully concluded its eight-figure seed funding round with the participation of Ittihad Ventures Holding and Industrial Capital Group.  

Established in 2020, the UAE-based company acts as a multimodal digital freight marketplace, connecting shippers and carriers across various industries to facilitate efficient, transparent, and cost-effective movement of goods. 

The platform addresses concerns such as freight rates, manual processes, enhanced visibility, traceability and customer service. 

The proceeds from the funding round will be instrumental in driving the company’s growth within the UAE market and facilitating its expansion into Saudi Arabia, a key strategic move to tap into the thriving logistics sector in the region. 

Transportr is also building toward its next series A funding round.

“Transportr has evolved to managing all freight modes (road, sea, rail and air) in addition to warehousing, material handling, logistics education and more,” said Hassan Khazem, CEO of Transportr. 

He added: “Our vision is to provide any company with a one-stop shop digital solution to manage all its supply chain activities while having environmental, social, and governance factors in mind. We aim to unleash the power of aggregation and bring value to our partners such as significant cost savings, access to data analytics and artificial intelligence.”

Transportr’s notable capability lies in its ability to compare rates offered by various carriers, empowering shippers to make well-informed decisions about their shipping choices.

HashMove raises pre-series A to relocate to Saudi Arabia

UAE-based logistics platform HashMove has successfully raised an undisclosed amount in a pre-series A funding round led by

Bahrain’s Bunat Ventures in collaboration with a prominent Saudi business group.  

HashMove, established in 2017 by Noman Mohammad, Rayan Al Bakri, and Sarfaraz Alam, provides solutions for various logistics needs, including instant rate sourcing for the initial leg of transportation, efficient booking capabilities, and end-to-end cargo movements and tracking. 

The raised funds will play a crucial role in HashMove’s expansion plans, as well as the relocation of its headquarters to Saudi Arabia. The strategic move aims to capitalize on the Kingdom’s thriving logistics industry and position HashMove at the forefront of the market.  

By establishing a strong presence in Saudi Arabia, HashMove can enhance its service offerings and strengthen its network in the region. 

HashMove’s expansion and relocation to Saudi Arabia align with the company’s long-term vision of becoming a key player in the Middle East logistics market.  

The company has already signed deals with Saudi companies including United Warehousing Co., a third-party logistics powerhouse based in Jeddah.  

The new funding will enable HashMove to enhance its capabilities, scale its operations, and provide even greater value to its customers. HashMove has already attracted over 900 logistics providers across 90 countries and aims to revolutionize the global logistics landscape.

UzOman invests in Switzerland’s Zood 

UzOman, a collaborative investment fund established by the Omani and Uzbek sovereign wealth funds, has recently made an undisclosed investment in Swiss fintech company Zood. 

Founded in 2018 by Michael Khoi, Zood operates as a comprehensive digital lending platform, offering a complete ecosystem comprising ZoodPay for financial technology, ZoodMall for e-commerce, and ZoodShip for logistics solutions. 

The investment from UzOman is strategically aimed at driving digital lending innovation in Uzbekistan.  

By injecting funds into Zood, the joint investment fund intends to foster the growth and development of the fintech sector in the country.  This infusion of capital will support Zood in expanding its operations and further enhancing its digital lending services in Uzbekistan. 

“This investment is part of our ongoing efforts to promote and invest in Uzbekistan’s rapidly growing financial sector. Zood’s focus on providing innovative, convenient, and secure payment solutions align well with UzOman’s plans to invest in the financial sector in Uzbekistan and empower businesses and individuals with cutting-edge financial tools,” Mohamed Al-Lawati, CEO of UzOman, said. 

The collaboration between UzOman and Zood signifies a mutual commitment to leveraging technology and finance to advance the economic landscape of Uzbekistan.   

“UzOman’s investment is a testament to Zood’s pioneering role in driving financial inclusion through a holistic ecosystem that provides comprehensive solutions for individuals and businesses in Central Asia and the Middle East. We are proud to collaborate with UzOman to further expand our reach and impact, creating economic opportunities in Uzbekistan,” Khoi said.

VMS acquires stakes in Cash Cows    

The startup ecosystem in the Middle East and North Africa is poised to get a boost as Saudi Arabia-based venture studio VMS has acquired minority stakes in Egyptian start-up accelerator Cash Cows.  The purchase of stakes is part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries and in the wider MENA region, according to a press release. The press release further noted that the partnership will see Cash Cows and VMS launching a joint platform for exchanging ideas, collaboration, and mutual learning between them.  

The platform will also provide ways for startups, investors, and entrepreneurs to access critical decisions that ensure their success, it added.   

Motaz Saleh Abuonoq, founder and CEO of VMS said that the company’s expansion in the Egyptian market was an important and strategic goal.   

VMS  supports talented startups entering the Saudi market and provides them with guidance, resources, expertise, and connections.

Mohamed Nagaty, partner at Cash Cows, said the partnership with VMS will contribute to building a bridge between Egypt and Saudi Arabia for startups, along with expanding the scope of operations for both companies.  

The coming together of two regional accelerators is aimed at providing resources and support for startups and drawing a clear map for investors to achieve excellence in the highly competitive market, the release added.

Topics: Start-up of the Week Transportr UAE startups

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AI will never replace human creativity, says SRMG CEO 

Updated 30 January 2026
Lama Alhamawi
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AI will never replace human creativity, says SRMG CEO 

  • Speaking to Maya Hojeij, senior business anchor at Asharq with Bloomberg, Jomana R. Alrashid expressed pride in SRMG platforms that had absorbed and adopted AI
Updated 30 January 2026
Lama Alhamawi

RIYADH: Jomana R. Alrashid, CEO of Saudi Research and Media Group, highlighted how AI cannot replace human creativity during a session at The Family Office’s “Investing Is a Sea” summit at Shura Island on Friday. 

“You can never replace human creativity. Journalism at the end of the day, and content creation, is all about storytelling, and that’s a creative role that AI does not have the power to do just yet,” Alrashid told the investment summit. 

“We will never eliminate that human role which comes in to actually tell that story, do the actual investigative reporting around it, make sure to be able to also tell you what’s news or what’s factual from what’s wrong ... what’s a misinformation from bias, and that’s the bigger role that the editorial player does in the newsroom.”

Speaking on the topic of AI, moderated by Maya Hojeij, senior business anchor at Asharq with Bloomberg, the CEO expressed her pride in SRMG platforms that had absorbed and adopted AI in a way that was “transformative.”

“We are now translating all of our content leveraging AI. We are also now being able to create documentaries leveraging AI. We now have AI-facilitated fact-checking, AI facilities clipping, transcribing. This is what we believe is the future.”

Alrashid was asked what the journalist of the future would look like. “He’s a journalist and an engineer. He’s someone who needs to understand data. And I think this is another topic that is extremely important, understanding the data that you’re working with,” she said.

“This is something that AI has facilitated as well. I must say that over the past 20 years in the region, especially when it comes to media companies, we did not understand the importance of data.”

 

The CEO highlighted that previously, media would rely on polling, surveys or viewership numbers, but now more detailed information about what viewers wanted was available. 

During the fireside session, Alrashid was asked how the international community viewed the Middle Eastern media. Alrashid said that over the past decades it had played a critical role in informing wider audiences about issues that were extremely complex — politically, culturally and economically — and continued to play that role. 

“Right now it has a bigger role to play, given the role again of social media, citizen journalists, content creators. But I also do believe that it has been facilitated by the power that AI has. Now immediately, you can ensure that that kind of content that is being created by credible, tier-A journalists, world-class journalists, can travel beyond its borders, can travel instantly to target different geographies, different people, different countries, in different languages, in different formats.”

She said that there was a big opportunity for Arab media not to be limited to simply Arab consumption, but to finally transcend borders and be available in different languages and to cater to their audiences. 

 

The CEO expressed optimism about the future, emphasizing the importance of having a clear vision, a strong strategy, and full team alignment. 

Traditional advertising models, once centered on television and print, were rapidly changing, with social media platforms now dominating advertising revenue.

“It’s drastically changing. Ultimately in the past, we used to compete with one another over viewership. But now we’re also competing with the likes of social media platforms; 80 percent of the advertising revenue in the Middle East goes to the social media platforms, but that means that there’s 80 percent interest opportunities.” 

She said that the challenge was to create the right content on these platforms that engaged the target audiences and enabled commercial partnerships. “I don’t think this is a secret, but brands do not like to advertise with news channels. Ultimately, it’s always related with either conflict or war, which is a deterrent to advertisers. 

“And that’s why we’ve entered new verticals such as sports. And that’s why we also double down on our lifestyle vertical. Ultimately, we have the largest market share when it comes to lifestyle ... And we’ve launched new platforms such as Billboard Arabia that gives us an entry into music.” 

Alrashid said this was why the group was in a strong position to counter the decline in advertising revenues across different platforms, and by introducing new products.

“Another very important IP that we’ve created is events attached to the brands that have been operating in the region for 30-plus years. Any IP or any title right now that doesn’t have an event attached to it is missing out on a very big commercial opportunity that allows us to sit in a room, exchange ideas, talk to one another, get to know one another behind the screen.” 

The CEO said that disruption was now constant and often self-driving, adding that the future of the industry was often in storytelling and the ability to innovate by creating persuasive content that connected directly with the audience. 

“But the next disruption is going to continue to come from AI. And how quickly this tool and this very powerful technology evolves. And whether we are in a position to cope with it, adapt to it, and absorb it fully or not.”

Topics: The Family Office Saudi Research and Marketing Group (SRMG) artificial intelligence (AI) Jomana Alrashid

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