Riyadh – Mubasher: Saudi Arabia-based logistics startup Equiptal has secured $1 million from a pre-seed round led by Plug and Play Middle East and a group of angel investors.
Developed by Ali Merie and Mansour Hmaid, the startup provides a marketplace for heavy equipment, where contractors can connect directly with suppliers, according to a press release.
Equiptal will use the funds to grow its headcount and expand its footprint in its home market.
Merie commented: “Being a contractor myself, I knew the pain points on the supplier side as well as the contractor side. [We] mostly focused on solving the contractor's issues pertaining to the sourcing part.”
The company integrates a fleet management solution backed by telematics technology, which enables contractors to make the best use of the equipment on the ground. Thus, it also helps them manage multiple pieces of equipment at a specific site and minimise downtime while keeping CO2 emissions in check.
“Previously, an on-site supervisor was required to oversee equipment operations and monitor working hours at the construction site. However, with our solution, contractors can conveniently monitor this information remotely from their laptops, whether they are in the office or any other location,” he added.
The startup runs its business through a number of development projects across Saudi Arabia, particularly those taking place across the Red Sea coast, including Neom City.
Meanwhile, Equiptal targets projects, valued at $3 trillion, to be executed within the next three to five years.
