Saudi logistics solutions start-up Nawel secures $1mln

Saudi logistics solutions start-up Nawel secures $1mln

Saudi logistics solutions start-up Nawel has secured $1 million in a pre-seed funding round led by investment firm NOMD Holding.

Founded in Riyadh in 2022, Nawel works with e-commerce owners and businesses by automating their warehouses with its proprietary technology.

It sets up delivery hubs that serve as sorting centres for bulk parcels, to ensure faster deliveries.

The company intends to use the new capital to accelerate network expansion and improve its technological infrastructure.

“The funds raised will also be utilised to further develop Nawel’s unified warehouse management system,” the company said in a statement.

Its biggest investor in the pre-seed funding round is part of Future Horizons Group based in Riyadh that invests in information and communication technology (ICT) fields, according to NOMD’s LinkedIn profile.

(Writing by Cleofe Maceda; editing by Brinda Darasha)

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