Cloud Fret has secured a $390,000 investment from Azur Innovation Fund (MAD3.5 million). Following Epicerie Verte, it is the fund’s second investment.
Cloud Fret was launched in 2020 as a transportation and logistics startup. Its platform links loaders and carriers with the goal of eliminating empty truck returns between the Mediterranean’s two ends.
Its aim is to use artificial intelligence to optimize truck transportation by tracking the movement of empty cargo trucks and orienting them to cargo that needs to be transported. Cloud Fret aims to totally digitize this procedure in order to reduce transportation costs while also reducing the environmental impact of cargo trucks through an ethical and sustainable model.
In fact, the platform not only serves loaders and transporters, but it also provides potential for their partners to expand their operations while reducing delivery times. In addition, the startup gives real-time updates on the cargo’s journey.