CloudFret, a Moroccan transport and logistics startup, concluded a new funding round, securing $2.1 million (MAD 21 million) from investors AfriMobility and Azur Innovation Fund.
CloudFret initially focused on addressing the issue of empty truck returns between Mediterranean shores through an AI-driven platform connecting shippers and carriers.
The mobile Software as a Service (SaaS) solution is accessible to all European carriers, freight forwarders, and shippers through download platforms.
With the introduction of the solution, CloudFret aims to expand its customer base among shippers and partner carriers. Currently employing around twelve individuals, the company has ambitious plans to double its workforce by the end of 2024.
The freight is simpler, faster and guaranteed (cloudfret.com)