Freterium, a Morocco-based transport management software provider, has raised $4 million in seed funding, the trucking logistics tech startup announced in a Thursday (Feb. 17) press release.
The Software-as-a-Service (SaaS) company was launched two years ago, and its transportation management software product is designed to connect shippers with their logistics network to collaborate in real-time, helping to trim time and shipping costs, the release stated. The software is meant for companies that deliver products daily, such as retailers, manufacturers, distributors and logistics providers.
Co-Founder and CEO Mehdi Cherif Alami and Co-Founder and Chief Product Officer Omar El Kouhene said in the release that they have experience in consulting and logistics, helping companies with their strategy and operations.
“This $4 million funding round is an endorsement of our unique model and approach, our team’s capabilities and the tremendous market opportunity,” said Alami in the release.
The round was led by Partech, and there was participation from Y Combinator, Flexport, CDG Invest, Swiss Founders Fund, Outlierz Ventures, and angels from the U.S., Europe, Asia and Africa, according to the release.
In other news, Indonesian tech startup Transporta introduced its free transport management system (TMS) in August to help small business truckers.
Read more: Transporta Launches Transport Management System for Indonesia’s Truckers
The TMS will aim to let logistics providers handle the entirety of the order management and delivery fulfillment cycle and will work from a single cloud platform.
The idea is to take the mostly manual process for smaller trucking companies and work to streamline it all on one cloud platform, with improvements to make it so smaller businesses can afford the costs of a TMS offering, which is usually much more expensive.
That will include everything from submitting bids, managing orders, scheduling routes, assigning drivers, tracking deliveries and invoicing clients.
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