UAE – Mubasher: Cartlow, a reverse logistics platform in the UAE and Saudi Arabia, has raised $18 million in a Series A funding round led by its strategic partner, the Saudi-based Alsulaiman Group (ASG).
Cartlow will use the proceeds of the fundraising to boost its ecosystem and expand its operations and services in the Kingdom and the UAE, according to a recent press release.
The platform aims to use the investment to optimise technology and contribute to decarbonisation plans related to the economy while combining return management, recycling, and re-commerce.
Cartlow, which offers software as a service (SaaS) services to players within the reverse logistics ecosystem, handled over 25 million units and saved more than 10 million tonnes of electronic waste (e-waste) since its inception.
Mohammad Sleiman, Founder and CEO of Cartlow, noted: “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.”
