LoadMe, the Dubai-based startup that prides itself as the first Online Transport Marketplace in the region, has raised another $1 million in its ongoing Series A round. The company now hopes to close the round by the end of 2018 with a total of $5 million in its kitty. Three family-owned businesses from Saudi Arabia took the lead in the $1 million investment so far. Other contributors included two Emirati investors and Mr. Abdullah Alshawaf.
LoadMe is the first Middle Eastern B2B marketplace that uses cloud technology to facilitate an online platform to match available trucking space and loads in real-time. The company claims to have a no-nonsense attitude towards the safety of the shipments and makes extensive use of GPS aided by mobile apps to track the whereabouts of trucks and their cargoes.
The proceeds from the Series A round will be used to offer LoadMe’s proprietary sea and air cargo services. Additionally, the company also plans on providing own warehouses while expanding to newer territories. As of today, LoadMe is not seeking any external help to go about its funding and expansion strategies, although the company claims it is open to input from experienced financial advisors.