Saudi logistics solutions company, Nawaal, has announced the successful closure of a seed funding round, “securing 3.75 million Saudi riyals “1 million US dollars.
The round was led by Nomad Holdings, a firm with a focus on investing in tech startups, along with participation from angel investors.
Founded in 2022 by Mohamed Boulcherf and Nawaf Al Shalani, Nawaal is dedicated to enhancing supply chain operations for companies.
It achieves this by utilizing unused spaces within warehouses and retail facilities, transforming them into storage points and centers to facilitate companies, especially in the e-commerce sector, to store and swiftly ship their products, thereby improving the overall customer experience.
Mohamed Boulcherf, the Founder and CEO of Nawaal, expressed, “This funding round marks a pivotal moment for Nawaal, and we look forward to Nomad Holdings becoming a strategic partner on our journey.
Their support validates our mission of redefining the concepts of storage, fulfillment, and execution for companies, ultimately enhancing customer experiences.”
On the other hand, Mohammed Al Khushail, Chairman of the Board of Nomad Holdings, commented, “We are proud to lead Nawaal’s funding round, as their innovative approach to improving logistic services aligns perfectly with our investment strategy.
We believe that Nawaal has the capability to make a significant impact on the future of supply chain management in the region.”
Nawaal specializes in establishing delivery centers that operate as parcel sorting hubs, enabling faster and more cost-effective deliveries.
The company aims to empower the fast-growing e-commerce sector by providing rapid delivery for fast-moving and promotional items.
It plans to use the recent investment to accelerate its growth, expand its network, enhance its infrastructure, and develop its unified warehouse management system, streamlining operations for businesses and improving the overall customer experience.