UAE startup Quiqup closes over $5.5m in funding to pursue expansion
Quiqup is currently working with more than 800 brands in the UAE
Quiqup, the UAE-based on-demand, same day delivery tech startup, raised over $5.5m in funds.
The funding round was led by Delivery Hero and supported by strategic shareholders, Cedar Mundi, JOBI Capital, and Transmed.
The company will use the capital to further expand their AI-driven logistics infrastructure that enables all businesses to offer expedited delivery services to their customers. It is also planning to expand similar services across the GCC region.
“Quiqup is changing the game in the e-commerce and delivery space,” said Iyad Kamal, logistics veteran and ex-COO at Aramex, who came onboard as a strategic advisor. “They have a unique and transformative business model that is a game changer for the region. Same-day delivery is the next frontier in e-commerce logistics and Quiqup has what it takes to crack the model.”
Quiqup is currently working with more than 800 brands. Launched in 2017, Quiqup was established as a tech scale-up, building a decentralised, AI-powered, last-mile logistics infrastructure to offer on-demand and same-day delivery services for retailers and restaurants.
Bassel El Koussa, co-founder and CEO of Quiqup said: “The pandemic has enabled us to turn challenges into opportunities. We managed to quickly expand by diversifying our portfolio to include new sectors such as pharmaceutical clients and also add more grocery businesses. These positive developments opened up a whole new universe of clients, which encouraged us to raise further investment.”