Alexandria-based digital freight forwarding platform Nowlun has raised $1.7 million in a seed funding round, it announced earlier this week. The round was led by Nama Ventures and A15, with participation from Sanabil 500 Global and angel investors.
Founded in 2021 by Moataz Khamis, Mahmoud Khaled, and Ahmed Emara, Nowlun’s platform allows customers to compare rates from over 30 shipping lines in realtime, streamlining the entire shipping process from price comparison to customs clearance and inland trucking. The platform eliminates traditional manual processes and long wait times for quotes, enabling businesses to make quick, informed decisions.
Nowlun integrates with major shipping lines to offer real-time pricing and shipping management features, including tracking of shipments. The startup offers its services all over the region from its offices in Egypt and Saudi.
Moataz Khamis, CEO and co-founder of Nowlun, said, “Throughout my decade in logistics, I’ve witnessed the daily inefficiencies shippers face. Driven by a sense of responsibility, my team and I are committed to transforming the industry using cutting-edge technology. This funding will empower us to further simplify the shipping process and make shippers’ lives easier.”
Mohammed Alzubi, founder and managing partner of Nama Ventures, commented: “Nowlun is a very interesting investment for us at Nama Ventures. We were impressed by their deep domain expertise, strong traction in the Saudi market, and clear vision for disrupting the logistics space. We have no doubt that Nowlun has the right team to lead this transformation.”
Bassem Raafat, Principal at A15, said, “We are thrilled to partner with Nowlun in their mission to revolutionize the freight forwarding industry. Their unique combination of deep domain expertise and cutting-edge technology positions them to make a transformative impact. We have great confidence in Nowlun’s team and their vision to drive efficiency, transparency, and innovation across the supply chain ecosystem.”
Nowlun plans to use the funding to accelerate its expansion plans and further develop its technology platform.
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