PIESHIP raises $2.1 million seed led by Nama Ventures

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Here are the main bullet points summarizing the article about PIESHIP:

  • Funding Success: PIESHIP, a logistics startup based in Saudi Arabia, has raised $2.1 million in seed funding led by Nama Ventures, with participation from SEEDRA Ventures and angel investors.

  • Company Overview: Founded in 2023 by Nasser Alharthi, Musaed Al-Amri, and Mohammed Mohsen, PIESHIP focuses on providing warehouse management solutions and app-based delivery services.

  • Expansion Plans: The funding will facilitate PIESHIP’s expansion across seven major Saudi cities, with a target of increasing its network of drivers to 5,000.

  • Technological Advancements: PIESHIP aims to enhance its logistics operations with AI-powered technologies for improved driver management and delivery efficiency.

  • Investor Confidence: Statements from executives like Nasser Alharthi and Mohammed Al-Zoubi highlight strong investor belief in PIESHIP’s vision and its potential to innovate in the last-mile logistics sector.

PIESHIP raises $2.1 million seed led by Nama Ventures


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  • Saudi Arabia-based logistics startup PIESHIP has closed its seed funding round of $2.1 million, led by Nama Ventures, with participation from SEEDRA Ventures and angel investors.

  • Founded in 2023 by Nasser Alharthi, Musaed Al-Amri, and Mohammed Mohsen, PIESHIP provides its clients with warehouse management solutions, using an app for delivering shipments, and technical solutions for logistics services.

  • This investment will support PIESHIP’s expansion plans in the Saudi market.

  • A year ago, PIESHIP closed an undisclosed pre-Seed investment round from the existing investors, including Nama Ventures and SEEDRA Ventures.

Source: EntArabi

PIESHIP, a leading smart logistics and last-mile solutions provider, has successfully closed its SEED funding round worth SAR 7.875 million ($2.1 million).

The round was led by Nama Ventures, with participation from several prominent investment funds, including SEEDRA Ventures and angel investors.

This investment will support PIESHIP’s expansion plans in the Saudi market.

The company aims to expand its operations into seven major cities, including Jeddah, Makkah, Madinah, Dammam, Al Khobar, Qassim, and Khamis Mushait.

Additionally, PIESHIP plans to increase the number of registered drivers in its network to 5,000 captains, enhancing delivery efficiency and providing more flexible logistics solutions.

Nasser Alharthi, Co-founder and CEO of PIESHIP, stated:”Closing our SEED funding round, led by Nama Ventures, reflects investors’ confidence in our vision and strategy.

We will continue investing in the development of our logistics technologies, particularly AI-powered solutions to manage our driver network.

This will allow us to offer faster and more efficient services, ultimately enhancing customer experience and last-mile delivery operations.”

Mohammed Al-Zoubi, Founder and Managing Partner at Nama Ventures, commented:”At Nama Ventures, we believe in supporting startups with a clear vision and the potential to make a significant impact.

PIESHIP has demonstrated its ability to provide innovative solutions for the last-mile logistics sector, and we are proud to lead this investment round, contributing to the company’s continued success and expansion.”

In the coming months, PIESHIP will focus on:

Enhancing user experience through improved tracking and communication systems.

Launching new services to support the logistics sector.

Developing advanced AI solutions for fleet management and data analysis, aimed at improving delivery efficiency and reducing transit times.

Founded in late 2023 by Nasser Alharthi, Musaed Al-Ameri, and Mohammed Mohsen, PIESHIP is a tech-driven platform specializing in last-mile delivery management.

The company offers an intelligent system for shipment analysis, driver routing, and route optimization, leveraging artificial intelligence.

Here’s a concise summary of the funds, investors, startup details, founders, and fundraising series from the provided information on PIESHIP:

Startup Details

  • Name: PIESHIP
  • Founded: 2023
  • Location: Saudi Arabia
  • Sector: Logistics and last-mile delivery solutions

Founders

  • Nasser Alharthi – Co-founder and CEO
  • Musaed Al-Amri
  • Mohammed Mohsen

Fundraise Series

  • Funding Round: Seed funding
  • Amount Raised: $2.1 million (SAR 7.875 million)

Investors

  • Lead Investor: Nama Ventures
  • Other Investors:
    • SEEDRA Ventures
    • Angel investors

Key Information

  • PIESHIP aims to enhance its operations in seven major Saudi cities.
  • Plans to increase registered drivers to 5,000.
  • Focus on developing AI-driven logistics solutions and enhancing user experience.

Commentaries (optional)

  • Nasser Alharthi expressed confidence in the vision and strategy through this funding.
  • Mohammed Al-Zoubi of Nama Ventures highlighted PIESHIP’s innovative approach to last-mile logistics.

This summary encapsulates the primary aspects of PIESHIP’s funding and operational focus as presented in the article.

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