Saudi logistics solutions provider Nawel raises $1mln funding

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Riyadh – Nawel, a Saudi tech startup specialised in developing logistics and supply chain solutions, has closed a $1 million pre-seed funding round led by NOMD Holding, according to a press release.

Nawel aims will use the proceeds of the funding to accelerate the expansion of its network and develop its technological infrastructure. It also plans to widen its warehouse management system, enabling businesses to streamline their operations.

The tech startup has rapidly emerged as a frontrunner in optimising supply chain operations through its approach to repurposing underutilised spaces within warehouses and retail establishments.

Mohammad Balsharaf, Co-Founder and CEO of Nawel, commented: "This pre-seed funding round marks a significant milestone for Nawel, and we're excited to have NOMD Holding as a strategic partner on our journey."

Balsharaf added: "The support from NOMD Holding validates our mission to redefine how businesses approach storage, fulfillment, and delivery, ultimately enhancing customer experiences across the board."

Nawel's offering includes the establishment of delivery hubs that serve as sorting centers for bulk parcels, which secures faster and more cost-effective last-mile delivery.

The startup's micro-fulfillment solutions bolster the quick commerce sector by providing fast-moving and unlocking new avenues for growth for e-commerce businesses.

Mohammad Al Khushil, Chairman at NOMD Holding, said: "Their innovative approach to optimizing logistics aligns perfectly with our investment strategy, and we believe Nawel has the potential to make a significant impact on the future of supply chain management in the region."