Mobily Ventures, the venture capital arm of Etihad Etisalat (Mobily), announced that it is investing in Fetchr, a promising shipping & logistics startup using cutting edge technology to overcome shipping challenges in the Middle East.
Dubai-based Fetchr offers a smartphone app that smoothly facilitates package delivery in a region where the lack of addressing systems troubles businesses and consumers. The startup's proprietary technology allows scheduling package pick-up and delivery using smartphones and their GPS capabilities. Using your phone as your delivery address is only one of a suite of technologies Fetchr has launched to enable people to "Ship Happy".
"We look for strong teams innovating to solve important problems," said Dr. Karl-Michael Henneking, Chairman of the Board of Mobily Ventures. "Fetchr is one such company that we believe will vastly improve the shipping options businesses and consumers in the region have."
"We are delighted Mobily Ventures shares our vision for using disruptive technology to improve the shipping experience for consumers in the region," said Fetchr's co-founder, Idriss Al Rifai.
Mobily Ventures joins a notable roster of investors who believe in Fetchr's ability to disrupt the shipping industry and empower the ecommerce space in GCC and beyond. It was announced in June that Silicon Valley based New Enterprise Associates (NEA) has led a landmark round of investment in Fetchr, an investment that was the largest of U.S. based venture funds in the Middle East for a Series A.