Saudi Arabia-based logistics startup Sirdab has raised $10 million in Series A funding to expand across the Kingdom and the wider GCC.
The round was co-led by PIF-backed digital solutions company Elm and existing investor BECO Capital. Y Combinator, COTU Ventures and D Global Ventures also participated.
Founded in 2022 by Naif Alzahri and Abdulrahman Alnamlah, Sirdab operates a technology platform that gives businesses access to warehousing and transportation services while helping them manage inventory and orders across multiple locations.
The company said more than 850 businesses use its platform, which connects them with a network of more than 120 warehouses and 60 transportation providers. Sirdab also said it reached profitability after growing revenue 20x since graduating from Y Combinator’s Winter 2023 batch.
The new funding will support expansion across Saudi Arabia and the GCC, growth of Sirdab’s logistics network and further development of its technology platform. This includes AI tools designed to match businesses with available capacity and automate coordination between shippers, warehouses and carriers.
According to the announcement, Sirdab serves logistics needs across dry, ambient, chilled and frozen categories through an asset-light network supported by selected company-operated facilities.
Source: Wamda
