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Headquartered in Dubai, one of the world's largest logistics hubs, HashMove views the city as a perfect launch point given its younger infrastructure, high growth, focus on innovation and strong government support for shipping/transport development.
HashMove raised its seed round from Ideas in Motion, a global equity fund, to develop its smart logistics platform which is targeted to launch by the end of the first quarter of 2019. The company has now opened the next seed round and plans to raise upwards of $25 million in 2019/2020 to grow the platform and accelerate its adoption in the GCC and beyond.
Sarfaraz Alam, co-founder and CEO, HashMove.com, said: "There is currently a lot of activity around innovations and solutions for the logistics space. However, despite the increased focus and a lot of money going into these initiatives, there is no single solution providing a complete end-to-end shipping experience with real-time visibility. HashMove's 'Smart Marketplace for Logistics' gives 24/7 accessibility to carriers, freight forwarders, transportation, warehousing and value-added services through our trusted referral network of logistics providers. Key differentiators of our platform include the ability to search and book multi-modal shipments, transparent pricing and deals, real-time tracking and monitoring, online collaboration and document management, in addition to analytics and optimisation. Additionally, all these services are available on HashMove's marketplace for a zero subscription fee."
Mary Long, managing director, Global Supply Chain Forum - University of Tennessee, chairman, Global Council of Supply Chain Management, and advisory board member - HashMove, said: "HashMove has built a platform to streamline logistics processes with improved visibility and an easy-to-use interface. Even better, they care about being a trusted provider of information to better navigate the increasing variety of logistics options. HashMove offers an opportunity to access a powerful business differentiator."
Similarly, Matt Johnson, managing partner Simon-Kucher, former senior VP at Kayak (now Priceline), and advisory board member - HashMove, said: "It is an audacious goal to build a platform that unifies all the logistics needs through the Dubai market. Today, this activity requires more than a dozen public and proprietary tools knitted together with numerous archaic manual processes that have not changed much in decades. The HashMove platform is not an incremental improvement of existing tools, but rather a re-imagining of intermodal logistics into a completely automated process using state-of-the-art technology. The team building HashMove is uniquely experienced and positioned to build and deploy this platform. I'm not sure any other group, startup or not, could successfully deliver anything similar."
As part of the H1 plan for the UAE market, HashMove will release the beta version of the marketplace in the first quarter of 2019. "Our partnership and alliance team will begin activities to onboard shippers, freight forwarders and carriers, transportation, warehousing and value-add service providers."
In the case of B2B, HashMove's Smart Multimodal Logistics Marketplace caters to the global community of carriers, freight forwarders, clearing agents, trucking and warehousing companies. It empowers them to take control of their logistics business and makes them digital instantly. They can give customers instant and accurate quotes and take advantage of lower operational costs, digitised documentation and enhanced customer serviceability.
HashMove's platform will allow all parties to achieve an end-to-end connectivity and sharing of information at every level, both vertically and horizontally. HashMove's 24/7 accessible platform allows sales teams to communicate and notify their customers in real-time.
HashMove's marketplace is a one-stop hub for any logistics businesses. Whether you are an importer, exporter, manufacturer, distributor, enterprise or government entity, HashMove simplifies the complete shipping experience for you. Whether it's by sea, air, road or rail, HashMove instantly searches through hundreds of verified logistics businesses on its platform through its 'search and book' feature, connecting you with trusted logistics providers. The dynamic pricing and last-minute deals give you the best prices with route optimisation through multimodal transportation options. The real-time tracking and monitoring feature on HashMove's platform keeps you updated with prompt notification and alerts, when your logistics are in transit. Users can also gain insight into real-time data, allowing them to make informed business decisions.
Masood Afridi, representative, Ideas In Motion, said: "We were immediately drawn to the business proposition set out by the co-founders of HashMove Technologies, and were fortunate to be invited to assist them in setting up this very exciting business enterprise. There is a critical requirement for developing an efficient logistics platform and Dubai presents the ideal environment and market space as a hub for such a venture, both regionally and globally. We were impressed by the enthusiasm shown by the co-founders and the credibility of their advisory board members. Ideas in Motion was set up as an investment vehicle for incubating and financing exciting startups in the technology and fintech space. HashMove Technologies is one of the first such ventures, and the energy shown by Sarfaraz Alam and his team is contagious. We are confident that HashMove will further enhance Dubai's reputation as a regional hub for logistics and the incubation and development of innovative ideas."
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