Freterium, a Casablanca-based logistics startup, will enter the Y Combinator accelerator program this week, providing the startup with a significant chance to meet some of the best investment funds and entrepreneurs in the world to help it grow. Freterium is the first Moroccan firm to be picked by the California-based accelerator, which picks only approximately 1% to 2% of applications and provides them with access to seasoned entrepreneurs’ counsel as well as connections to Silicon Valley’s most famous investors. Freterium plans to expand into the MENA area by opening offices in Dubai, as well as continue to grow in Morocco.
“We began by observing that in 2021, the transportation of commodities for distributors, logisticians, and even industrialists was still highly antiquated. All aspects of the process of transporting goods to customers are still managed manually. I’m referring to email, Excel, or a telephone conversation,” Mehdi Chérif Alami, the startup’s co-founder and CEO, stated. “From receiving the customer’s order to delivering the product, we’ve designed a platform that optimizes and automates the whole process.”
![Meeting w/ Mehdi Cherif Alami, CEO & Founder @Freterium [Darija] - Zoom](https://cdn.lu.ma/event-covers/bs/632407de-55d2-4648-81df-bae4c600dd41)
The startup was founded at the end of 2018 and was part of the inaugural class of 212Founders. In April 2020, it raised 3 million dirhams ($339k) as part of this initiative to help it grow faster.
What Freterium Does
Freterium’s goal is to replace manual procedures with a fully linked ecosystem to change supply chains. The company has created a collaborative network using a SaaS (software as a service) platform. Customers may invite their complete logistics ecosystem to utilize Freterium and incorporate it into the platform.
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“For a food sector industrialist, we’ve given him the ability to link his complete network of transportation suppliers, which amounts to roughly twenty service providers. We’ve also built optimization algorithms that will help this firm optimize its transportation strategy and goods deliveries. This allowed them to save 17% on transportation costs, digitize its information flow with its ecosystem, and have comprehensive visibility over its goods flow, including the location, state of the items (in warehouse, transit, or delivered, editor’s note), and product temperature. We also allowed him to manage all the transport invoicing part,” Alami said, without revealing the name of his client.
Joining The Y Combinator Program
The Moroccan startup’s application was chosen for the Y Combinator yearly program after it applied. It will now receive a significant boost during a three-month program that begins this week.
The Y Combinator usually offers a three-month incubation program with high-level mentors and interlocutors.
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“It’s a prestigious and very selective program. This will provide us the opportunity to meet alumni entrepreneurs who have launched successful businesses. We will benefit from their suggestions and opinions. We have a session with the Airbnb founders coming up next week, for example,” said Alami.
All of this will eventually lead to the startup’s Demo Day, a pitch day when Freterium’s founders will showcase their firm to a group of hand-picked investors.
“This initiative also enables us to think beyond the box and recruit top talent. Furthermore, it entitles us to a symbolic admittance ticket to the Y Combinator for 125,000 dollars,” Mehdi Chérif Alami said.
The Startup Aims For International Expansion After Leaving The Program
The firm is looking to expand worldwide, notably in the MENA area, in addition to expanding its position in the Moroccan market.
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“We now intend to recruit additional employees and grow in the MENA area,” Alami said, “beginning by creating an office in the United Arab Emirates to canvass the region’s markets.”
“Our platform was created with emerging markets in mind. We address challenges that aren’t well-served by firms who specialize on developing transport solutions,” he added.
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer