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Egyptian Trucking Marketplace Startup Trella, Raises US$600k+ in Pre-Seed Round Led by Algebra Ventures

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Egyptian Trucking Marketplace Startup Trella, Raises US$600k+ in Pre-Seed Round Led by Algebra Ventures

Trella, a Cairo-based B2B trucking marketplace that connects shippers with carriers, has announced that it has raised US$600k+ in a pre-seed funding round led by Algebra Ventures, with participation from strategic investors, global VCs, and notable angel investors including Esther Dyson and Jambu Palaniappan.

Trella helps shippers reduce costs by improving load utilization and efficiency and offering transparent pricing, and carriers by connecting them with shippers through direct bookings which means better utilization and enhancement of their truck efficiency hence addressing an enormous pain-point in a deeply fragmented industry plagued by asset under-utilisation and a lack of transparency, consistency, and reliability.

The startup also allows the carriers to track their shipments in real time and keep an eye on their transportation trends and performance through different reports.

The startup was founded in 2018 by Omar Hagrass who has previously served as Regional Manager, EMEA Launch and Expansion at Uber, and Pierre Saad who was previously Software Architect & Technical Lead at Vezeeta.

Read: Kenya’s Top 10 Highest Funded Startups and Tech Companies in 2018

“Building on the fantastic success of ride-hailing startups, we built a similar solution for the freight industry in the region to improve efficiency throughout the supply chain,” says Hagrass.

“The interest in our solution has been overwhelming, both from businesses who want to use our technology, and from truckers who are getting significantly more value and more consistent flow of business through our platform. We’re optimising truckers’ routes so they’re no longer driving empty.”

Karim Hussein, the Managing Partner at Algebra Ventures said, “We’re thrilled to be leading this round; They’re a superstar team with proven execution ability. The large and highly fragmented freight market in Egypt is ripe for technological disruption. We are excited to be joined by a group of capable and experienced co-investors who will help accelerate Trella’s growth in the short run and support it in subsequent financings.”

Image Credits: WeeTracker


Kenyan Startups Raised US$126.8M over 41 disclosed deals in 2018. Find out more by downloading a FREE copy of the Kenya Startup Funding Report 2018 now.


 

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