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  • Writer's pictureTeam CargoTalk

Logistics firm Nawel closes US$1 mn seed funding round

Nawel, a KSA Saudi startup specialised in developing logistics and supply chain solutions, has closed a US$1 million pre-seed funding round led by NOMD Holding, Mohammad Balsharaf, Co-Founder and CEO, Nawel, said. “This pre-seed funding round marks a milestone for Nawel, and we are excited to have NOMD Holding as a partner in our journey,” he added. The startup aims to use the proceeds of the funding to accelerate the expansion of its network and develop its technological infra and plans to widen its warehouse management system, enabling businesses to streamline their operations. “Their approach to optimizing logistics aligns with our investment strategy, and we believe Nawel has the potential to make an impact on the future of supply chain management,” Mohammad Al Khushil, Chairman, NOMD Holding, said.

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