Cloud Shelf Secures $14.15 Million Saudi Riyal Funding to Enhance Rapid E-commerce Solutions
Cloud Shelf, specializing in rapid e-commerce solutions, successfully raised 14.15 million Saudi Riyals (equivalent to $3.77 million USD) in a Pre-Series A investment round. The round saw participation from notable investors including Jahez, Rzm Ventures, Impact46, GSI Ventures, and Seedra Ventures, the latter having led its previous investment round.
Established in 2021, Cloud Shelf empowers brands to increase sales through its innovative technological system and dedicated online stores. The company offers fast delivery services to customers within 60 minutes, enhancing customer experience and improving sales.
According to Ibrahim Al Sagheer, CEO of Cloud Shelf, expanding the provision of immediate delivery services significantly boosts brand sales, enhances customer experience, and reduces order cancellation rates considerably. Furthermore, fast delivery directly impacts customer product ratings, with observed increases of up to threefold.
Waleed Al Barak of Seedra Ventures commended Cloud Shelf’s significant growth and expressed confidence in its team’s ability to strengthen its position as a key player in the fast e-commerce sector.
Cloud Shelf aims to utilize the new funding to expand its operations, reach new customer segments, geographically expand into key cities in Saudi Arabia, and provide innovative technological solutions to contribute to the growth of fast e-commerce customers.
