US energy company ExxonMobil signed an agreement with Egypt-based freight marketplace Trella to collaborate on the development of more technology solutions.
Trella, which was founded in 2019, has operations across Egypt, Saudi Arabia and Pakistan. The company has more than 350 shippers on its mobile app – including Coca-Cola, Maersk, Mondi, Henkel, Orascom and Cemex – as well as more than 15,000 truckers.
“We are very excited about our collaboration with ExxonMobil Egypt, unlocking new ways to build an ecosystem that supports drivers and surpasses the status quo of logistics," said Omar Hagrass, Trella's chief executive.
Regional freight marketplaces such as Trella and Trukker are tapping into a coronavirus pandemic-induced logistics boom, sparked by increased efforts by businesses to digitise.
The recent partnership will allow the Egyptian company to add greater value to its freight marketplace through enhanced trucking productivity and efficiency.
The company will use ExxonMobil's heavy duty engine oil to boost its uptime and reduce fuel costs.
The Egyptian company connects shippers and carriers through its digital platform and uses data to help drivers optimise routes and increase the volume of backhauls.
Through Trella's app, shippers can directly book freight vessels and track them in real-time.
Last month, Trella raised $42 million in a funding round led by international investors, including the venture capital arm of Danish shipping group Maersk.
Maersk Growth and Saudi Arabian VC Raed Ventures together led the equity segment of the funding round, while the debt facilities were provided by Lendable and other local financial institutions.
Trella will seek additional capital in the next two to three years as it aims for "breakthroughs" in its technology and product development to disrupt the market, Mr Hagrass said in an earlier statement.
Egypt's start-ups received a record $190m in funding last year, accounting for more than a fifth of every venture capital deal in the broader Mena region, according to data platform Magnitt.
