Cairo - Mubasher: Cairo-based trucking marketplace Trella announced raising $600,000 in a pre-seed funding round led by Egyptian venture capital firm Algebra Ventures.
Strategic investors, global venture capital firms, and angel investors such as Esther Dyson and Jambu Palaniappan also took part in the funding round, the startup said in a statement on Sunday.
Established in 2018, the technology platform connects shippers with carriers, improves load utilisation, provides transparent pricing schedules and allows shipment tracking in real-time. Trella follows a business-to-business (B2B) model.
“Building on the fantastic success of ride-hailing startups, [Trella is] a similar solution for the freight industry in the region to improve efficiency throughout the supply chain,” Trella's CEO and co-founder Omar Hagrass said.
Algebra Ventures led the funding round to “help accelerate Trella’s growth in the short run and support it in subsequent financings,” the capital venture firm’s managing director Karim Hussein noted.
