Saudi Arabia’s Nawel closes $1 million Seed round
Saudi Arabia’s Nawel closes $1 million Seed round
- Saudi Arabia-based logistics solutions provider Nawel has closed a Seed round of $1 million, led by Nomad Holdings, with participation from angel investors.
- Founded in 2022 by Mohamed Boulcherf and Nawaf Al Shalani, Nawel utilises unused spaces within warehouses and retail facilities, transforming them into storage points and centres to facilitate companies.
- Nawel plans to use the recent investment to accelerate its growth, expand its network, enhance its infrastructure, and develop its unified warehouse management system.
Source: EntArabi
Saudi logistics solutions company Nawel has announced the successful closure of SAR 3.75 million ($1 million) in a seed funding round 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, Nawel is dedicated to enhancing supply chain operations for companies.
It achieves this by utilising unused spaces within warehouses and retail facilities, transforming them into storage points and centres 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 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 specialises in establishing delivery centres 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.
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