Shttle, the logistics solutions platform specializing in smart tanks, announced the closing of an investment round of 3.75 million Saudi riyals (US$1 million) led by Impact46 with participation from strategic investors in the region.
The platform was established in the year 2020 by Muhammad Al-Hassan, to provide a modern experience from traditional lockers to smart lockers, taking advantage of Internet of Things technologies to improve the logistics operation cycle by providing self-service lockers as receiving points for parcels. The value of smart lockers comes as a tool for storing parcels safely, exchanging them by different parties and supported by technology for automatic interaction. The platform allows customers to document order, payment, and receipt through a fully automated process.
Commenting on the investment, Mohamad Al-Hassan, founder of Shttle, said: “The LaaS (Locker as a Service) model serves merchants through their online platforms and is represented by solving delivery problems faced by both the customer and the service provider. We are grateful to our clients and partners for their trust in our unique services, and this round comes to support and improve the IoT infrastructure and cover new areas.”
Smart lockers are an approved approach to solving a major issue facing the logistics sector, which is that the customer is not present at the time of delivery, which leads to scheduling of deliveries. With a smart locker solution, shipping companies can deliver packages in one place, and a benefit to the customer by reducing the cost of delivery.
The Shatel platform owns 90 lockers distributed in 9 main cities, including Riyadh, Jeddah, and Dammam. Smart tanks are also present in more than 80 facilities such as markets, hotels, commercial buildings and gas stations that serve more than 300 customers. This step adds value to the facilities by directing individuals to visit the place in order to receive the request.
Mohammed Al-Nissayan from Impact46 said: “With the rapid growth of e-commerce, delivery solutions are an important factor to support the potential of this sector. The LaaS model provided by the Shttle platform solves many delivery problems due to the flexibility of the parcel receiving service for customers. The Shttle team, led by Mohamed Al-Hassan, comes from backgrounds who have been able to support the smart cabinets model that will be a part of our daily lives as consumers.”
