The Saudi logistics solutions company Nawel has announced that it has successfully closed a seed funding round totalling SAR 3.75 million ($1 million), with the participation of angel investors and Nomad Holdings, a company that specializes in investing in tech startups.
Nawel, which was established in 2022 by Mohamed Boulcherf and Nawaf Al Shalani, is committed to improving supply chain management for businesses.
In order to help businesses, particularly those in the e-commerce industry, store and quickly ship their products, it makes use of underutilized space in warehouses and retail establishments. This enhances the overall customer experience.
Mohamed Boulcherf, the founder and CEO of Nawel, expressed, “This funding round marks a pivotal moment for Nawel, 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, fulfilment, 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 Nawel’s funding round, as their innovative approach to improving logistic services aligns perfectly with our investment strategy.
We believe that Nawel has the capability to make a significant impact on the future of supply chain management in the region.”
Nawel specializes in setting up delivery locations that serve as hubs for sorting packages, facilitating quicker and more economical deliveries.
The organization wants to enable the rapidly expanding e-commerce industry by offering quick delivery for items that are in high demand and for promotions.
With the recent investment, it intends to develop its unified warehouse management system, improve infrastructure, accelerate growth, and streamline business operations while enhancing customer satisfaction.
