Saudi Arabia: Saudi-based Salasa, a cloud-based turnkey solution for e-commerce businesses providing access to a professional logistics fulfillment network in Saudi Arabia, has announced today that the company has raised capital worth US$8.6 million in the Series A round. Led by AlSulaiman Group with the participation of Saudi Venture Capital Company (SVC) and 500 Startups, the current investment will help Salasa to expand its services to additional states within Saudi Arabia and the Gulf countries, expand its team and grow its network of partners.
Commenting on the investment, Salasa Co-Founder and CEO Abdulmajeed Alyemni said: “We are excited to have partnered with leading investors in the region and look forward to their valuable advice and support in backing our growth. Our ongoing strategy is to maintain transparency, be flexible in our services, and able to scale our business to the next level. We would like to replicate this in all the markets we establish.”
Established in late 2016, Salasa was founded by Abdulmajeed Alyemni and Hasan Alhazmi, industrial engineers with a great track record in the supply chain field. The founders were influenced by the report published by the global management consultancy firm, Bain, and Company, that the e-commerce market in MENA is expected to reach US$28.5 billion by 2022. Despite its high growth potential, many e-commerce businesses were struggling to scale and satisfy customers, only because they lacked the expertise to operate their warehouses. This inspired the founders to come up with a technology company that streamlines e-commerce fulfillment. Thus, Salasa came into being.
Salasa provides solutions, tools, and resources to develop new products, enter new markets, and dynamically grow client businesses. This has resulted in developing systems, processes, and teams that deliver products and goods at low-cost order fulfillment solutions, high level of accuracy, and speed of fulfillment.