Saudi Shipping Aggregator Torod Raises $11.3m Series A Led by Wa'ed Ventures and Elm
Riyadh-based e-commerce shipping aggregator Torod has closed one of the region's largest logistics Series A rounds to fund its expansion.
Torod, the Saudi e-commerce shipping aggregator, has raised $11.3 million in a Series A round led by Wa'ed Ventures and Elm, with participation from Impact46, Hala Ventures and Suhail Ventures.
Founded in 2022 by Faisal Almaklas and Ammar Almaatouq, Torod lets online merchants ship products through multiple third-party logistics providers from a single interface, integrating with store builders such as Shopify, WooCommerce, Salla and Zid and shipping partners including SMSA, Aramex and iMile.
The company had previously raised a seed round in 2022. The new capital is one of the biggest Series A rounds for a logistics startup in the MENA region.
Torod plans to use the funding to broaden its logistics network and product suite as e-commerce volumes continue to grow across the Gulf.