HashMove Company Profile

Background

Founded in 2017, HashMove is a pioneering digital logistics platform that seamlessly integrates various facets of the logistics industry. With a mission to provide enterprises globally with heightened visibility and address gaps in their fragmented supply chain and logistics services, HashMove empowers businesses to make well-informed decisions with precision. The company's vision is to emerge as the world's leading logistics tech platform by seamlessly integrating every facet of the industry through innovative and futuristic solutions, fostering the growth of enterprises.

Key Strategic Focus

HashMove's strategic focus centers on offering a comprehensive, multi-modal logistics platform that consolidates various supply chain silos into a single, unified solution. The platform supports sea freight (FCL/LCL), air freight, trucking, warehousing, and value-added services, providing real-time visibility and enterprise-grade dashboards for end-to-end cargo movements and tracking. By connecting shippers, carriers, ports, and service providers, HashMove facilitates seamless and instant booking capabilities, targeting enterprises seeking to optimize their logistics operations.

Financials and Funding

In June 2023, HashMove secured a pre-Series A funding round led by Bahrain's Bunat Ventures, in collaboration with a Saudi business group. The investment facilitated the relocation of HashMove's headquarters to Riyadh, Saudi Arabia, aligning with the company's growth and expansion plans.

Technological Platform and Innovation

HashMove's platform is distinguished by its multi-modal unified solution, offering a one-window interface that consolidates various supply chain silos. Key features include:

Real-Time Visibility & Dashboards: From booking request initiation to delivery fulfillment and invoicing, the platform provides a transparent and traceable view of the entire logistics process with enterprise-grade dashboards.

Global Logistics Ecosystem: With an extensive network of over 900 global partners across 90 countries, HashMove enables users to access routes and services at competitive rates from trusted partners.

Purpose-Built Logistics Platform: Designed from the ground up to address pain points unique to enterprises, the platform connects every facet of logistics, including freight forwarding, shipping lines, ports, regulators, transporters, warehouses, insurance, and customs agents, providing complete control over logistics in a true multi-modal environment.

Leadership Team

HashMove's leadership comprises seasoned professionals with extensive experience in logistics and technology:

Sarfaraz Alam: Co-Founder & Group CEO

Noman Mohammad: Co-Founder & CTO

Rayan Al Bakri: Co-Founder

Zeyad Al Saif: Chief Executive Officer, KSA

Dr. Adnan AlTurkistani: Chief Business Officer, KSA

Ibrahim Sultan: Head of Legal, KSA

Sultan Alshaer: HR Manager, KSA

Khurram Shahid: Executive Vice President, Partnership & Alliances, Global

Saadi Masood: Vice President, Commercial & Digital Transformation, KSA

Shafiq Malik: Vice President, Commercial & Digital Transformation, Pakistan

Saad Zulfiqar: Director, Digital Logistics Services, Pakistan

Syed Touseef Ali: Director, Innovation & Product, Global

The advisory board includes:

Shamsa Al Balooshi: Director of Partnership at Muhammad Bin Rashid Foundation

Dr. Adel Ahmed: Former Dean, KFUPM

Christos Spyrou: CEO & Founder of Neutral Air Partner

Matt Johnson: Silicon Valley Startup Advisor

Mary Long: Managing Director-Global Supply Chain Forum

Saima Khan: Former Chief Advisor, Dubai RTA

Leadership Changes

In January 2024, HashMove appointed Mr. Khurram Shahid as Executive Vice President of Partnerships and Alliances. Mr. Shahid brings a wealth of diverse experience and is expected to play a pivotal role in driving HashMove's global expansion.

Competitor Profile

Market Insights and Dynamics: The global digital logistics market is experiencing significant growth, driven by the increasing need for efficient supply chain solutions and real-time tracking capabilities. Enterprises are seeking platforms that offer comprehensive, multi-modal logistics services to optimize operations and reduce costs.

Competitor Analysis:

Shipsy: Founded in 2015 and headquartered in Gurugram, Haryana, Shipsy operates within the transportation, warehousing, and logistics sector. The company has raised $31.6 million in funding and generates revenue between $25 million and $100 million. Shipsy offers solutions for logistics management, including real-time tracking and analytics.

Floship: Established in 2015 and based in Tsim Sha Tsui, Floship operates in the logistics and warehouse technology industry. The company has secured $1.2 million in funding and generates revenue between $5 million and $25 million. Floship specializes in e-commerce fulfillment and cross-border logistics solutions.

Locus: Founded in 2015 and headquartered in Milpitas, California, Locus operates in the supply chain management industry. The company has raised $82.8 million in funding and generates revenue between $25 million and $100 million. Locus provides AI-driven logistics optimization solutions.

Strategic Collaborations and Partnerships

HashMove has established several strategic partnerships to enhance its market position and expand capabilities:

United Warehousing Company (UWC): In June 2023, HashMove signed a landmark deal with UWC, a 3PL logistics provider based in Jeddah, to make UWC one of the region's first digital 3PL providers, aligning with Saudi Vision 2030.

Arab-British Chamber of Commerce (ABCC): In November 2023, HashMove partnered with ABCC to implement its electronic logistics platform, aiming to transform UK-Arab trade dynamics.

Utopia Industries: In January 2024, Utopia Industries partnered with HashMove to digitalize their end-to-end logistics using HashMove’s Enterprise Logistics Platform.

Operational Insights

HashMove's relocation of its headquarters to Riyadh signifies a strategic move to align with the Kingdom's Vision 2030 and tap into the burgeoning logistics market in Saudi Arabia. The company's comprehensive, multi-modal platform offers distinct competitive advantages, including real-time visibility, a global logistics ecosystem, and a purpose-built solution addressing enterprise pain points. These differentiators position HashMove favorably against competitors like Shipsy, Floship, and Locus.

Strategic Opportunities and Future Directions

HashMove's strategic roadmap includes expanding its global partner network, enhancing platform capabilities with advanced technologies such as AI and IoT, and forging additional partnerships to strengthen its market position. The company's current strengths, including a robust technological platform and a seasoned leadership team, position it well to capitalize on future opportunities in the digital logistics sector.