The UAE-based logistics startup AHOY announced raising a $20 million funding round, during its inaugural Keynote event “The Deployment”. The company held the fundraising to scale its technology globally.
This round raises their total investment raised up till now to $27 million. The startup further plans to raise a few bridge funding rounds in the fore-coming months before the Series-A round.
AHOY focuses on reimagining movement technology and developed a true enterprise-grade tech infrastructure to optimize and automate any movement-related process.
Recently, AHOY announced its global hybrid solution AHOY Movement Studio (AMS), a collection of Software Development tools (APIs, SDKs, and libraries) tailor-made for enterprises, that would allow developers to build the most enhanced movement-related solutions.
“The deployment of the AHOY technology across all mobility-related sectors offers endless possibilities. This year, AHOY aims to provide 100+ job opportunities for highly skilled software professionals in Dubai and Riyadh. We aim to increase the research and development team activities in UAE & Kingdom of Saudi Arabia and scale our presence into international markets”.
~ Jamil Shinawi, CEO & Co-Founder AHOY
The e-commerce logistics startup claims to have grown 25x in terms of revenue, the number of transactions, technology deployment and deliverables between 2020 and 2021 exceeding their OKRs and plans.
AHOY is currently based in UAE and Saudi Arabia while offering services globally. The company with the acquisition of the latest funds plans to diversify into select African and Latin American countries in the coming 12-18 months.