Oman-based digital marketplace for ocean freight Cubex Global, has announced that it has raised $1 million in a seed round led by Oman Technology Fund.
The round of funding was aslo participated in by other angel investors and an undisclosed amount by a Hong Kong-based venture capital firm.
The idea behind Cubex is to allow individuals and businesses with shipping interest to buy and sell cubic meters of container space in a real-time auction setup. The platform allows users to book spaces in container or the whole container to move goods to preferred destinations.
Cubex Global currently boast of 2000 active shippers and carriers on its platform across Middle East, Asia Pacific, and some parts of Europe.
The startup that was established in 2016 by Sheikh Ahsan Tariq, Hood Al Hoqani, Hamza Al Kharusi, and Wajiha Khalid.