Moroccan Logistics Startup, Cloud Fret, Secures $390k from Azur Innovation Fund

Moroccan logistics startup, Cloud Fret, has announced it secured $390k from Azur Innovation Fund.

Cloud Fret was founded in 2020 by Driss Jabar, the startup is dedicated to connecting loaders and transporters by linking loaders and carriers.

Cloud Fret leverages its artificial intelligence to detect empty cargo vehicles and orient them to merchandise that needs to be transported, eliminating empty truck returns between the two sides of the Mediterranean, providing live updates of the cargo’s journey.

With the aim of totally digitize this procedure in order to reduce transportation expenses Cloud Fret allow transporters access opportunities to increase their activities while decreasing the time of delivery.

Azur Innovation Fund is a public-private seed fund that aims to provide capital for innovative Moroccan entrepreneurs. The investments from the firm is used to support programs that are part of Morocco’s development strategy, including the Industrial Acceleration Plan, Green Morocco Plan, and Morocco Digital Plan.

Azur Innovation Fund has invested in a variety of industries, including Agritech, Fintech, Biotech, Medtech, Edtech, Cleantech, and others.

By connecting with diverse participants in the ecosystem, the fund stays open to innovation in the broad sense and intends to expand the entrepreneurial field in the country (incubators, accelerators, investment funds, banks, etc.).