Cathedis, a Moroccan startup specialising in delivery and e-logistics, has announced the conclusion of a new financing cycle, which included a “pre-series A” fundraising of 5 MDH from Afrimobility, Venture Capital from AKWA Group, and a bridge of 2.5 MDH provided by CDG Invest, for a total of 7.5 MDH ($735,940).
According to a press release from Cathedis, this is the startup’s second funding, with the first in 2020 for a sum of 3 MDH under CDG Invest’s 212 Founders program.
This second round of funding marks “a new key turning point” for the firm, which grew by more than 300% between 2020 and 2022 and now has over 700 active customers.
Logistics has become such an essential aspect of our lives that it is no surprise that logistics companies are receiving funding to expand and grow their businesses.
According to Moulay Hafid Amrani, CEO of Afrimobility, in a news release, Afrimobility was convinced to invest in Cathedis and support its growth plans due to Moroccan-made invention, tremendous potential, and ambitious development strategy.
The investment in this start-up is part of Afrimobility’s mission and philosophy of backing innovative and disruptive businesses capable of addressing tomorrow’s important mobility concerns.
Cathedis’ founder and CEO, Imad El Mansour Zekri, stated that the positive momentum of our investor and historical partner CDG Invest, as well as the entry of the renowned fund Afrimobility, will allow Cathedis to consolidate its performance, develop its innovation platform, and speed up its expansion.
He also added that four years after its founding, our start-up is one of Morocco’s reference operators of delivery and e-logistics, with the deployment of wholly locally developed and installed technological and industrial solutions.
The Cathedis operating platform is completely digital. Logistics is no exception to the trend of all businesses adopting digital.
It is more than just a platform; it is an instrument for comprehensive delivery management transformation. Everything is trackable.
The system offers a high level of mobility to manage each operation, from delivery products to cash return, even on a daily basis, through complaint management, and this with real-time, even near instantaneous tracking. According to the company, the objective is to offer the best possible user experience.
Internal teams created and built the automated sorting center, which can handle 4,000 shipments per hour. Moroccan R&D is used by the startup to achieve better results. The target for 2024 is to handle 3 million shipments per year.