Homoola, which launched its digital load-matching service in Saudi Arabia last year, has been named one of the World Economic Forum's Technology Pioneers for 2019.
The company, which aims to bring new efficiency to road freight by using technology to pair shippers and trucking companies, is one of 56 firms chosen worldwide.
Homoola’s load-matching technology gives shippers access to capacity at times of peak demand and allows them to optimise the efficiency of their shipments at other times.
It prevents carriers from driving empty miles or sitting idle waiting for cargo,” said Ziyad Al Homaid, Homoola co-founder and CEO .
Agility Ventures, the corporate venture arm of global logistics giant Agility, is a key investor in Homoola.
Homoola, the only company in the list hailing from the Gulf region, was selected by a committee of 59 leading technology experts, investors and entrepreneurs.
“Our new tech pioneers are at the cutting edge of many industries, using their innovations to address serious issues around the world,” says Fulvia Montresor, head of technology Pioneers at the Forum.
As part of their selection, all technology pioneers can participate in a two-year programme with the Forum, when they have the opportunity to collaborate with their emerging tech peers, engage with industry leaders and work with public and private experts around the world.
Of the 56 firms selected, 25 percent of them are female-led and they are drawn from a pool that stretches beyond the traditional tech hubs like Silicon Valley.
This year’s group hail from China, Finland, Germany, Israel, Mexico, Morocco, the Netherlands, Republic of Korea, Saudi Arabia, South Africa, Singapore, Switzerland, the United Kingdom and the United States.
They are at the cutting edge of a wide range of industries that span agtech, smart cities, cleantech, supply chain, manufacturing, cybersecurity, autonomous vehicles and drones.
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