Sirdab raises $10 million Series A to expand across GCC

Saudi Arabian logistics startup Sirdab has successfully raised $10 million in Series A funding, according to a recent press release. The round was co-led by Elm, a digital solutions company backed by the Public Investment Fund (PIF), alongside existing investor BECO Capital. Other investors in the round include Y Combinator, COTU Ventures, and D Global Ventures.

Sirdab, founded in 2022 by Naif Alzahri and Abdulrahman Alnamlah, offers a technology platform enabling businesses to manage warehousing, transportation, inventory, and orders across multiple locations via a single system.

The funding will be allocated towards Sirdab's expansion across Saudi Arabia and the wider Gulf Cooperation Council (GCC), the growth of its logistics network, and further development of its technology platform. This includes implementing AI capabilities to match businesses with available capacity and automate coordination between shippers, warehouses, and carriers.

Since graduating from Y Combinator's Winter 2023 batch, Sirdab has experienced a 20x increase in revenue while achieving profitability. The company's client base includes major government entities, publicly listed companies, and leading enterprises across various sectors, with over 850 businesses utilizing its platform. Sirdab's network spans more than 120 warehouses and 60 transportation providers, covering dry, ambient, chilled, and frozen logistics.

Naif Alzahri, co-founder and CEO of Sirdab, stated, "Saudi Arabia is building one of the most dynamic logistics markets in the world, and businesses here have enormous room to grow. Sirdab gives them the infrastructure to grow on. We make quality capacity accessible in days, keep operations visible in real time and hold service to a consistent standard, so companies can expand into new cities and categories with confidence."

The recent funding round will enable Sirdab to bring its services to more businesses across the Kingdom and the GCC, enhancing the company's asset-light network complemented by strategically located company-operated facilities in key hubs.