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April 25, 2024
Shorages raises $1 million Pre-Series A round
Source: Wamda
Shorages raises $1 million Pre-Series A round
  • UAE-based logistics startup Shorages has raised a $1 million pre-Series A funding round, led by Joa Capital, as part of their S3 Ventures Fund
    Founded in 2019 by Rayan Osseiran, Shorages provides fulfilment centres around the UAE, and now the KSA, for e-commerce platforms to receive inventory and dispatch orders across the GCC region.
    This latest round will be used for international expansion as Shorages plans to launch more warehouses across the GCC.
    In 2022, Shorages raised a Seed round of $700,000.
  • Press release:
    Shorages, a GCC-based fulfilment startup, announced that it has raised a pre-series A round of $1 million following its successful launch in KSA.
    Shorages offers a network of fulfilment centres that provide merchants with the infrastructure needed to unlock online sales in the GCC. With fulfilment centres in the UAE and now KSA, it is prepared to receive inventory and dispatch orders locally and internationally for the merchants they work with.
    As an omnichannel logistics provider, Shorages is well-equipped with the infrastructure needed to help merchants launch and scale their business across B2B and B2C channels. To date, Shorages has supported several brands with their online and offline product distribution. Furthermore, the company leverages economies of scale to secure favourable terms from suppliers and extends those terms to its merchants.
    The company places particular emphasis on building its technology. The warehouse management and order fulfilment system developed by Shorages acts as a central software for merchants to operate through. When accessing the platform, merchants are provided with complete visibility of their stock levels, order statuses, and overall performance of their sales. The software not only seamlessly integrates with B2C channels such as Shopify, Sala, and WooCommerce but also with marketplaces such as Amazon and Noon. In addition, the company implements its own software across the fulfilment centres it operates for staff to efficiently manage inventory and prepare orders.
    This latest round will primarily be used for international expansion as Shorages plans to launch more warehouses across the GCC. With KSA already established, the company will also look to further enable brands to expand into the Kingdom, essentially building a bridge between the UAE and KSA.
    The company has set its sights on becoming a key player in the GCC’s 3PL ecosystem. Shorages’ CEO, Rayan Osseiran, adds: “We’ve witnessed firsthand the attractive position of the GCC as a new hub for brands to expand to. We aim to capitalise on that positioning by acting as the de facto logistics infrastructure for those companies. We are excited to welcome Joa Capital on board with us to help drive the company’s vision forward.”
    The round was led by Joa Capital as part of their S3 Ventures Fund. Its partner, Abdulrahman Almousa, noted: “Joa Capital proudly supports Shorages in their recent Pre-Series A funding round, underscoring our commitment to fostering innovative companies that are set to revolutionise the commerce landscape in the GCC and beyond. This investment aligns with our mission to build long-term partnerships with visionary entrepreneurs, aiming to amplify their impactful solutions across the region and foster a more interconnected and vibrant future.”.
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