- Saudi Arabia-based logistics platform Torod, has raised a $1.33 million Seed round led by IMPACT46 with participation from local investors including Hala Venture and Seedra Venture.
- Founded in early 2022 by Faisal Almaklas and Ammar Almaatouq, Torod provides online merchants with post-order management services, allowing them to choose the shipping method for their orders.
- Torod plans to use the fresh capital to enable a cost-effective shipping process for D2C retailers and enhance the post-order experience for both merchants and consumers.
The Saudi-based “e-commerce shipping easier” platform, Torod announced the closing of its Seed round at SAR 5 million ($1.33 million), led by IMPACT46 with the participation of local investors including Hala Venture & Seedra Venture.
Founded in early 2022 by Faisal Almaklas and Ammar Almaatouq, bringing together deep expertise in e-commerce & logistics spaces, enabling fast and cost-effective shipping for D2C retailers with the ability to manage & track the orders through a single interface by Torod.
Torod lies in serving the pain points in the transportation and logistics cycle as the result of the extensive growth of the e-commerce space. By providing an encompassing post-order management experience, Torod is easing the burden of merchants' supply chain. The platform technology, helps merchants seamlessly choose the best method suited for the shipment from a wide range of courier partners local and international including SPL, J&T, SMSA & DHL, with real-time order tracking and returns management.
“Post the covid pandemic the number of online buyers jumped and many businesses moved to online selling and that comes with a higher expectation from the shoppers for good delivery service. To meet these expectations, e-commerce has to enhance the delivery checkout experience and make sure it’s backed by the best-fit delivery partner reflecting the same values merchants are aspiring to. Here Torod comes to help the merchants control and monitor the whole process by catering to customers' variant needs” Added Faisal Al Mukhles, CEO & Co-founder of Torod.
Soon after the platform launch at the beginning of 2022, Torod was awarded the best shipment tracking solution in the Kingdom and received the MIT university award as one of the 3 best innovative solutions in the region.
Mohammed Alnasyan from IMPACT46 commented on the investment “With the fast growth that the e-commerce industry is witnessing in our region, there come new challenges and problems that require new solutions to serve and keep up with changing consumer behaviour. Torod enables this industry by providing new innovative solutions for merchants and logistics companies to ultimately enhance the customer experience. Torod team, led by Faisal Almukhles and Ammar Almaatouq, comes with a unique and complementary experience in e-commerce and logistics that we believe is important to realize Torod’s vision.”
Hussain Almarhoon from Hala Venture commented “The e-commerce sector is one of the highest growing sectors locally and globally, and that is why we, in Hala Ventures, were keen to invest in the sector by enabling merchants through Torod platform, which seeks to make the shipping process easier and faster. We believe that Torod will be an added value to e-commerce platforms, as they provide ease of connection with various shipping companies with transparent contracts that suit the needs of merchants.”
With the freshly infused capital, Torod is looking to deploy it to accelerate its mission of enabling a fast and cost-effective shipping process for D2C retailers and enhancing the post-order experience for the merchants and the consumer on another hand.