Dubai Angel Investors leads AED1.5m investment in logistics platform WIMO
WIMO, a delivery platform that enables companies to automate their logistics operations, has landed $500,000 in SEED funding lead by Dubai Angel Investors.
WIMO was founded in 2017 by two software engineers Wissam Aboueida and Mohamed Bahaa and has offices in Dubai and Riyadh, with regional expansion plans.
They said they teamed up to disrupt existing legacy systems used by most e-commerce, courier companies and traditional logistics and distribution company units.
Wissam Aboueida, CEO of WIMO said: "Companies from different industries face daily challenges in managing their last-mile ground teams and till date leading courier companies and retailers are relying on excel and outdated clunky and complex systems to manage their day-to-day operations. Last mile delivery costs still make up at least 30 percent of total revenues.
"WIMO is here to change that, embed more automation and reduce total costs for a business to run their logistics.”
Aboueida added that since launch, WIMO has crossed 3 million deliveries via the platform and on boarded many prominent enterprise clients across UAE and Saudi Arabia.
“With this new funding, we are very excited to work with DAI to expand our presence in Dubai and Riyadh and expand our engineering team to enrich our platform with better automation and enterprise capabilities. WIMO provides a low-touch plug and play solution to cater for last mile teams and perfect end-customer experiences,” said Aboueida.
Tarek Amin, co-founder of Dubai Angel Investors added: “As an investor, we’ve been very selective about the companies that we have backed, we are confident that WIMO has a winning team and a fantastic game-plan to help enterprises remain competitive and keep their costs down.”
Mohamed Bahaa, CTO of WIMO, said the company's new launch, Wimo Ship, allows e-commerce players to take control of their margins, rates, and shipping policies at a customer or product level and automate their shipping management with ease.
“We are excited about the 2019 outlook as we continue to on board leading couriers and retail clients on their digital transformation roadmap, actively optimizing their customer journey and process automation,” he added.