• Nawel, a Saudi logistics solutions company, successfully closed a SAR 3.75 million ($1 million) seed funding round led by Nomad Holdings, focusing on tech startups, with additional support from angel investors.
• Founded in 2022 by Mohamed Boulcherf and Nawaf Al Shalani, Nawel aims to enhance supply chain operations by repurposing unused spaces within warehouses and retail facilities into storage points and centers.
• Mohamed Boulcherf, Nawel’s founder and CEO, sees the funding round as a pivotal moment, expressing anticipation for Nomad Holdings to become a strategic partner.
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, according to a company statement.
Founded in 2022 by Mohamed Boulcherf and Nawaf Al Shalani, Nawel is dedicated to enhancing supply chain operations for companies.
The company achieved its successful solution by utilizing unused spaces within warehouses and retail facilities, transforming them into storage points and centers 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, fulfillment, 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.
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