Torod raises $1.33 million Seed round led by IMPACT46

The Saudi-based “e-commerce shipping easier” platform, Torod announced the closing of its Seed round at SAR 5 million ($1.33 million), led by IMPACT46 with the participation of local investors including Hala Venture & Seedra Venture.

Founded in early 2022 by Faisal Almaklas and Ammar Almaatouq, bringing together deep expertise in e-commerce & logistics spaces, enabling fast and cost-effective shipping for D2C retailers with the ability to manage & track the orders through a single interface by Torod.

Torod is a company that addresses the needs of customers in the logistics and transport sector. This has been possible because of the explosion of ecommerce. Torod eases the burden on merchants’ supply chains by providing a comprehensive post-order management experience. The platform technology, helps merchants seamlessly choose the best method suited for the shipment from a wide range of courier partners local and international including SPL, J&T, SMSA & DHL, with real-time order tracking and returns management.

“Post the covid pandemic the number of online buyers jumped and many businesses moved to online selling and that comes with a higher expectation from the shoppers for good delivery service. To meet these expectations, e-commerce has to enhance the delivery checkout experience and make sure it’s backed by the best-fit delivery partner reflecting the same values merchants are aspiring to. Here Torod comes to help the merchants control and monitor the whole process by catering to customers’ variant needs” Added Faisal Al Mukhles, CEO & Co-founder of Torod.

Torod was quickly awarded the best shipment tracking system in the Kingdom, shortly after which he received the MIT university award for the 3 most innovative solutions in this region.

Mohammed Alnasyan from IMPACT46 commented on the investment “With the fast growth that the e-commerce industry is witnessing in our region, there come new challenges and problems that require new solutions to serve and keep up with changing consumer behaviour. Torod provides innovative solutions to merchants, logistics companies and customers in order to support this sector. Torod team, led by Faisal Almukhles and Ammar Almaatouq, comes with a unique and complementary experience in e-commerce and logistics that we believe is important to realize Torod’s vision.”

Hussain Almarhoon from Hala Venture commented “The e-commerce sector is one of the highest growing sectors locally and globally, and that is why we, in Hala Ventures, were keen to invest in the sector by enabling merchants through Torod platform, which seeks to make the shipping process easier and faster. We believe that Torod will be an added value to e-commerce platforms, as they provide ease of connection with various shipping companies with transparent contracts that suit the needs of merchants.”

Torod will use the newly infusion capital to help accelerate its mission to enable D2C retailers to ship quickly and economically and to improve the customer experience.

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