Saudi Delivery Startup BARQ Raises Funds For Product Development

Saudi delivery startup BARQ has secured $4 million in a seed round. The money will be used to expand the firm’s geographic footprint in the Kingdom and diversify its product offerings. The round was led by early stage venture capitalists OTF Jasoor Ventures, and Hambro Perks Oryx Fund — a Middle East and North Africa-focused […]

Staff Writer February 08, 2022

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Saudi delivery startup BARQ has secured $4 million in a seed round.

The money will be used to expand the firm’s geographic footprint in the Kingdom and diversify its product offerings.

The round was led by early stage venture capitalists OTF Jasoor Ventures, and Hambro Perks Oryx Fund — a Middle East and North Africa-focused investment fund according to Magnitt.

“Technology is the heart of our startup; our location-driven solutions built using machine learning, route optimisation, process automation, and chatbots help optimise the delivery process and cater to their fast-growing business needs,” Magnitt reported, citing BARQ executive Mohammad AlMarwani.

Founded in 2020, the startup provides prompt deliveries to businesses through its latest delivery technologies

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