B2B logistics Software as a Service (SaaS) Lyve Global has acquired a majority stake in UAE-based last-mile delivery and logistics company Jeebly, marking the first step in its investment strategy, a plan that also includes expanding its offering and broadening its market reach.
Founded in 2016, Lyve uses cloud-based platforms and services to expedite millions of orders each month across the eCommerce, food and beverage, grocery and healthcare industries, according to a Construction Business News report Tuesday (July 5).
The acquisition “will help to further accelerate Jeebly’s growth in its existing markets while also strengthening its operational capabilities to offer unique delivery solutions across the GCC,” the report said.
“This is an exciting time for us,” said Lyve Chief Investment Officer Nader Museitif. “In less than 12 months we have concluded 4 acquisitions. We have ambitious plans for the coming two years with total investment value reaching over $150 million.
“Jeebly has been an exceptional success story and we’re happy to be working together on the next stage of the journey. This is one of several investments that will complement our offering and we will be actively looking to acquire companies that add to our spectrum of services,” he said.
In six years, Jeebly has onboarded more than 500 global and regional clients across multiple industries.
“This is an alliance that is set to strengthen our proposition and create unique synergies that will benefit our customers,” said Raman Pathak, CEO and co-founder of Jeebly, in the report. “Together, we will be more resilient and prepared for future opportunities.”
Related: Spryker Partners With FarEye on Last-Mile Delivery of B2B eCommerce
In June, SaaS platform FarEye, which focuses on last-mile logistics challenges, and Spryker, a B2B enterprise digital commerce platform, announced a partnership to integrate FarEye’s intelligent delivery platform and Spryker’s digital commerce operating system.
Merchants will be able to offer a customer experience that can be closely tweaked, from initiating a purchase to receiving a delivery, according to the announcement. Between FarEye and Spryker, the companies serve businesses including “big & bulky,” manufacturing, grocery, industrial machinery, hardware, electronics and marketplaces.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More