UAE’s reverse logistics platform Cartlow secures $18m funding
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UAE’s reverse logistics platform Cartlow secures $18m funding

UAE’s reverse logistics platform Cartlow secures $18m funding

The investment will provide the company with the ability to further expand its operations and services in Saudi Arabia and the UAE

Zubina Ahmed
Cartlow

Cartlow, the reverse logistics platform in UAE and Saudi Arabia, has raised $18m in Series A round.

This investment will provide the company with the ability to further expand its operations and services in kingdom and the UAE. It will further help them optimise its technology and contribute to decarbonisation in the economy.

The round was led by Cartlow’s strategic partner, Al Sulaiman Group, with investments in various sectors including omni-channel retail, logistics, and e-commerce.

The investment will enable the brand to further mature its ecosystem in the region by combining return management, recycling, and re-commerce through its advanced technology.

Saud AlSulaiman, CEO at AlSulaiman Group said “Our investment in Cartlow further highlights our commitment to the kingdom’s 2030 Vision sustainability targets through enhancing the circular economy and eliminating waste in value chains.”

Mohammad Sleiman, founder and CEO at Cartlow, stated “The investment will help take Cartlow to the next level. Our aim is to continue to drive innovative technology within the reverse logistics landscape across the region.”

Since its launch, Cartlow has significantly impacted the reverse logistics ecosystem by enabling major retailers and brands with various programs including; returns management, warranty management, buy-back and trade-ins driven by its technology, a statement said.

In addition, Cartlow’s re-commerce platform offers ‘software as a service’ (SaaS) to major players within the reverse logistics ecosystem. They have handled more than 25 million units and saved more than 10 million tons of e-waste.

The Alsulaiman Group is a retail-related services group serving Saudi Arabia and GCC countries. Its business activities cover three segments Omni-channel Retail, Services, and Retail Real-estate.

Meanwhile, the global reverse logistics market was valued at $635bn in 2020 and is projected to reach $958bn in 2028, with a cumulative annual growth rate of 5.6 per cent.

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