Saudi logistics solutions start-up, Nawel, has secured US$1 million in a pre-seed funding round led by investment firm NOMD Holding. According to a company statement, founded in Riyadh in 2022, Nawel works with e-commerce owners and businesses by automating their warehouses with its proprietary technology. The company sets up delivery hubs that serve as sorting centres for bulk parcels to ensure faster deliveries. It intends to use the new capital to accelerate network expansion and improve its technological infrastructure. “The funds raised will also be utilised to develop Nawel’s unified warehouse management system,” the statement added. 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.
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