Mobily Ventures invests in shipping startup Fetchr

31/08/2015 Argaam

Mobily Ventures is investing in Fetchr, a Dubai-based startup specializing in shipping and logistics solutions in the wider Middle East region, the venture capital arm of Etihad Etisalat Co. (Mobily) said in a statement.

 

Fetchr offers a smartphone app which facilitates package delivery in a region where addressing systems are lacking. It uses Smartphones and GPS technology, which acts as a customer’s address.

The investment value and timetable were not disclosed.

In June, the startup secured $11 million in a funding round led by the US-based VC New Enterprise Associates.

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