Saudi-based Delivery as a Service (DaaS) startup BARQ has successfully raised $4 million in its latest funding round. The Seed round was led by OTF Jasoor Ventures and Hambro Perks Oryx Fund with participation from Sultan Holding, Saudi Venture Capital Company (SVC), as well as strategic family offices and angel investors.
Co-founder and CEO Abdullah AlShalhoub commented, “We’re on a mission to transform and automate overall business and consumer experience from order creation to delivery. We’ve identified a lot of inefficiencies across our served sectors and started with the toughest – Last mile”.
Co-founder/COO Ahmad Habbal commented, “Last mile has been a never-ending challenge for businesses. With our multi-vertical and flexible supply model, we’ve been able to increase efficiencies, ensure sustainability, and complement rather than compete with other players.”
The latest fund will be used to expand the company’s geographic footprint Kingdom-wide and increase product offering to provide a wider range of values to its customers across various sectors.
