British logistics company, Quiqup has announced a strategic funding round of £10mn to drive expansion across the MENA region. Quiqup is building a decentralised, artificial intelligence (AI) powered last-mile logistics infrastructure to power same-day delivery services for retailers and restaurants of all sizes and across all industries in the MENA region.
The funding round is being led by existing investor JOBI Capital, with participation from strategic investor Cedar Mundi Ventures, the Beirut-based VC firm part of Kuwait Holding group. Quiqup will build on its current operations in Dubai to expand into two cities in the GCC, with others to follow. To support its regional expansion, Quiqup will set up its regional tech hub in Beirut with a development team drawing on the existing local tech-savvy and cost-efficient talents.
Quiqup’s services were launched in the region in September 2017, with its expansion into Dubai seeing tremendous success and levels of growth delivered well ahead of expectations. The company continues to see double-digit growth, with a long list of over 125 clients including some of the region, and the world’s, best known brands.
“The tremendous growth that we have seen in Dubai proves that the GCC region, and MENA more broadly, are exceptional opportunities for Quiqup. We are looking forward to building on the success that we are having in Dubai as we expand across the region,” says Dani El-Zein, general manager of Quiqup UAE.
There are a number of factors that make expansion into the region very attractive. E-commerce in the region is in its early stages compared with the rest of the world, and growth rates of e-commerce are among the highest in the world. Delivery will be fundamental to the growth of this sector, providing attractive market conditions for the expansion. Consumer expectations around service and convenient delivery are also advanced compared with the rest of the world, with a strong service culture and a spirit of innovation, driving customer and business adoption of tech-enabled, same-day delivery services.
The lack of legacy delivery infrastructure also makes the region a very attractive opportunity for a tech-enabled scale-up building a decentralised, AI powered last-mile logistics infrastructure. The presence of legacy infrastructure in Europe and the United States limits and slows innovation adoption. MENA region is very open to adopting new technologies from scratch, which provides an opportunity to build a last-mile logistics infrastructure that is absolutely cutting edge. This is fueling quicker adoption of Quiqup services in the region. Retailers and restaurants are leapfrogging antiquated models that dominate in Europe and the US to arrive at delivery solutions that are fast and convenient, and will serve as a model for the rest of the world.
“Quiqup’s DNA is built around operating a decentralised, AI powered logistics infrastructure that allows it to deliver all types of last-mile services, from instant to same-day delivery. The opportunity in the MENA region is like nothing we see elsewhere. Just as in many parts of the world, mobile leapfrogged wired telephony or desktop computers, we see the same potential for game-changing innovation in the GCC and beyond,” adds Bassel El Koussa, CEO and co-founder of Quiqup. “Our technology is second to none in the region, and our obsession with industry-leading technology and on customer experience is putting us at the forefront of innovation. We look forward to creating a last-mile infrastructure that serves as a model for the rest of the world.”
Words by Katie Streten Experiential Strategy Director, VMLY&R COMMERCE Throughout the last year,June 13, 2021 | By Shruthi Nair
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
Abu Dhabi’s state investment company ADQ is in talks to invest about $500 million
The once powerful department stores that anchored malls and streets around the
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
A private helicopter carrying the chairman and managing director of Lulu Group,
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
Gone are the days of traditional brick-and-mortar as well as purely e-commerce
The Dubai Gold & Jewellery Group’s ongoing jewellery campaign, held in association
Retail Abu Dhabi, the retail platform of the Department of Culture and