Riyadh-based OTO raises $3mln in seed round

The Riyadh-based team plans to utilize its newly acquired funds to further evolve its tech stack

  
U.S. currency is seen in this picture illustration taken March 6, 2020. Image used for illustrative purpose

U.S. currency is seen in this picture illustration taken March 6, 2020. Image used for illustrative purpose

REUTERS/Mike Segar/Illustration
 
RIYADH: The Saudi shipping management software and delivery platform OTO raised $3 million in its latest funding round, led by Middle East Venture Partners (MEVP) and Derayah Capital, MAGNiTT reported.

The Riyadh-based team plans to utilize its newly acquired funds to further evolve its tech stack and platform offering, grow its workforce to reach 50 members in 12 months, and expand its market footfall across the Gulf Cooperation Council and Egypt.

Founded in 2019, OTO has built world-class technology to help e-commerce brands ship, manage, track, and return their online orders with over 100 shipping carriers via a consolidated dashboard.

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