Cloud Fret, a logistics startup based in Morocco, has secured MAD3.5 million (USD 390 K) from Azur Innovation Fund, the fund’s second investment after Epicerie Verte. Azur Innovation Fund is a public-private seed fund that aims to finance the capital of innovative startups in Morocco. The fund aims to promote initiatives that are part of Morocco’s development strategy.
Cloud Fret is a startup that connects loaders and transporters in the transportation and logistics industry. It uses artificial intelligence technology to detect empty cargo trucks and orient them to cargo which needs to be transported, eliminating empty truck returns between the two ends of the Mediterranean.