PIESHIP, a prominent supplier of last-mile and smart logistics solutions, has closed its SAR 7.875 million ($2.1 million) SEED funding round for SEED.
With participation from a number of well-known investment funds, including SEEDRA Ventures and angel investors, Nama Ventures led the round.
The expansion plans of PIESHIP in the Saudi market will be bolstered by this investment.
Among the seven major cities the company hopes to reach are Jeddah, Makkah, Madinah, Dammam, Al Khobar, Qassim, and Khamis Mushait.
To improve delivery efficiency and offer more adaptable logistics options, PIESHIP also intends to expand its network of registered drivers to 5,000 captains.
Nasser Alharthi, Co-founder and CEO of PIESHIP, stated:”Closing our SEED funding round, led by Nama Ventures, reflects investors’ confidence in our vision and strategy.
In order to manage our driver network, we will continue to invest in the advancement of our logistics technologies, especially those driven by artificial intelligence.
This will allow us to offer faster and more efficient services, ultimately enhancing customer experience and last-mile delivery operations.”
Mohammed Al-Zoubi, Founder and Managing Partner at Nama Ventures, commented:”At Nama Ventures, we believe in supporting startups with a clear vision and the potential to make a significant impact.
PIESHIP has demonstrated its ability to provide innovative solutions for the last-mile logistics sector, and we are proud to lead this investment round, contributing to the company’s continued success and expansion.”
In the coming months, PIESHIP will focus on:
Enhancing user experience through improved tracking and communication systems.
Launching new services to support the logistics sector.
Constructing cutting-edge AI fleet management and data analysis systems with the goal of enhancing delivery effectiveness and cutting down on transit times.
The tech-driven platform PIESHIP, which specializes in last-mile delivery management, was founded in late 2023 by Nasser Alharthi, Musaed Al-Ameri, and Mohammed Mohsen.
The business uses artificial intelligence to provide a sophisticated system for driver routing, shipment analysis, and route optimization.
