Cathedis, a Moroccan delivery, and e-logistics startup has received its second funding worth $735K in a pre-series A round.
The new financing was jointly raised from AKWA Group’s Venture Capital, Afrimobility and CDG Invest who provided 5 million and 2.5 million Moroccan Dirhams (MDH) respectively, making a total of 7.5 MDH ($735,940).
Established in 2019 by Imad El Mansour Zekri, Cathedis runs a cloud-based warehouse and delivery service to local stores in Morocco. Its services include same-day delivery, real-time tracking of packages, and online or on-delivery payment.
This comes after its first financing in 2020, a sum of 3 MDH from 212 Founders, an accelerator and Venture Capital fund based in Morocco.
In a press release, the CEO of Afrimobility, Moulay Hafid Amrani said, “Afrimobility was persuaded to invest in Cathedis and assist its expansion plan due to its great performance, ” Moroccan-made innovation, strong potential, and ambitious development strategy. Our investment in this start-up is part of our vision and philosophy of supporting new and disruptive ventures capable of tackling tomorrow’s mobility’s significant challenges.”
“The renewed confidence of our investor and historical partner CDG Invest, as well as the entry of the prestigious fund Afrimobility, will enable Cathedis to consolidate its performance, develop its innovation platform, and accelerate its growth,” stated Imad El Mansour Zekri, Cathedis’ founder and CEO.
“Four years after its inception, our start-up is one of Morocco’s reference operators of delivery and e-logistics, with the deployment of technological and industrial solutions conceived and installed entirely domestically,” Imad further stated.
With its automated sorting center, Cathedis produces about 4,000 parcels per hour and has seen more than 300% growth between 2020 and 2022, garnering over 700 active clients. The goal for 2024 is a flow of 3 million shipments handled each year.
The company stated, ” It is more than just a platform; it is a tool for deep transformation of delivery management. Everything can be tracked. The system provides a high level of agility to manage each operation, from the production of the delivery to the return of cash, even on a daily basis, via complaint handling, and this with real-time monitoring, even near instantaneous monitoring. The goal is to provide the finest possible user experience.”