Cubex Global

About Cubex Global

Cubex Global, founded in 2016 by Sheikh Ahsan Tariq, Hood Al Hoqani, Hamza Al Kharusi, and Wajiha Khalid Paracha, operated as a digital marketplace for the ocean freight industry. The company established its headquarters in New York, with additional offices in the United Arab Emirates, Pakistan, and Muscat. Despite its efforts, the company is now listed as deadpooled or out of business as of late 2024.

The firm's core business was an online platform designed to connect freight forwarders with shippers, enabling them to buy, sell, and bid on unused container space in real-time. This model aimed to address the significant inefficiency in the Less-than-Container-Load (LCL) sea freight sector, where a substantial portion of container capacity often goes unsold. By optimizing the use of this empty space, Cubex Global sought to create economic value for carriers and provide more affordable shipping options for clients. The platform's features included real-time bidding, shipment and container tracking, 3D container loading optimization, and automated documentation.

The company's revenue model was twofold, generating income by charging sellers a 10% commission on inventory placed on the platform and by collecting a subscription fee from both shippers and carriers for full access to premium features. Cubex Global successfully raised a total of $1.1 million over two funding rounds. A pre-seed round of $100,000 was followed by a seed round of $1 million on July 26, 2020, led by the Oman Technology Fund with participation from angel investors and a Hong Kong-based venture capital firm.