Cairo-based trucking marketplace Trella raises $600k pre-seed round led by Algebra Ventures

0
7

Trella, a b2b technology platform and trucking marketplace that connects shippers with carriers in the highly fragmented freight industry ​has raised $600k+ in a pre-seed funding round led by ​Algebra Ventures​, with participation from strategic investors, global VCs, and notable angel investors including Esther Dyson and Jambu Palaniappan.

‘We’re thrilled to be leading this round,’ adds Karim Hussein, Algebra Ventures’ Managing Partner. ‘They’re a superstar team with proven execution ability. The large and highly fragmented freight market in Egypt is ripe for technological disruption. We are excited to be joined by a group of capable and experienced co-investors who will help accelerate Trella’s growth in the short run and support it in subsequent financings.’

Founded in 2018 by Omar Hagrass and Pierre Saad, Trella empowers drivers and reduces costs for shippers by improving load utilisation and efficiency, offering transparent pricing schedules, and enabling shipment tracking in real-time. The platform is addressing an enormous pain-point in a deeply fragmented industry plagued by asset under-utilisation and a lack of transparency, consistency, and reliability.

Trella’s CEO, Hagrass, is no stranger to the transport-tech space in the region, having served as Regional Manager, EMEA Launch and Expansion at Uber. Saad, CTO, was previously Software Architect & Technical Lead at Vezeeta. They are joined by ​Muhammad El Garem (previously Business Development Manager at OLX) as Head of Operations.

‘Building on the fantastic success of ride-hailing startups, we built a similar solution for the freight industry in the region to improve efficiency throughout the supply chain,’ says Hagrass. ‘The interest in our solution has been overwhelming, both from businesses who want to use our technology, and from truckers who are getting significantly more value and more consistent flow of business through our platform. We’re optimising truckers’ routes so they’re no longer driving empty.’

Jambu Palaniappan, former Head of Uber Eats – EMEA said he as incredibly excited to invest in Trella as part of their pre-seed funding round

‘The premise of bringing world class logistics technology to shippers and carriers across Egypt is a strong one, and the Trella team is extremely well equipped to achieve their ambitious goals. I look forward to supporting them along the way,’ Palaniappan said.

‘I love companies that make complex things simpler – but not too simple,’ says angel investor Esther Dyson, executive founder of Wellville. ‘Trella’s combination of Hagrass’ real-world logistics experience and Saad’s tech wizardry is perfect for the task of making the region’s trucking infrastructure more transparent and efficient.’