Saudi Logistics Startup PIESHIP Secures $2.1M to Expand Smart Logistics
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PIESHIP, a company specializing in smart logistics and last-mile delivery solutions, has announced the successful closure of its seed funding round, raising SAR 7.875 million (USD 2.1 million). The round was led by Nama Ventures, with participation from 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 extend its operations to 7 major cities, including Jeddah, Mecca, Medina, Dammam, Khobar, Qassim, and Khamis Mushait. Additionally, PIESHIP plans to increase the number of registered drivers in its network to 5,000, which will enhance delivery efficiency and provide more flexible solutions to the logistics sector.
Nasser Al-Harithi, co-founder and CEO of PIESHIP, commented: “Closing our seed funding round, led by Nama Ventures, reflects investors’ confidence in our vision and strategy. We will continue to invest in developing our logistics technologies using artificial intelligence to manage the driver network, enabling us to provide faster and more efficient services, and enhance the customer experience for last-mile delivery companies.”
For his part, Mohammed Alzubi, founder and managing partner at Nama Ventures, stated: “At Nama Ventures, we believe in the importance of supporting startups with a clear vision and the ability to make a real impact. PIESHIP has proven its ability to provide innovative solutions to the last-mile sector, and we are proud to lead this investment round and contribute to driving the company towards further success and growth.”
In the coming period, PIESHIP will focus on enhancing the user experience by improving tracking and communication systems, and launching new services that support the logistics sector. The company will also continue to develop advanced artificial intelligence solutions for fleet management and data analysis, with the goal of improving delivery efficiency and reducing delivery times.
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PIESHIP
SEEDRA Ventures
With a team of experienced industry leaders, serial entrepreneurs, and top-tier investment professionals, SEEDRA Ventures serves as both a Pre-Seed partner and an Early-Stage investor in Saudi.
Nama Ventures
Nama Ventures is a pre-seed venture capital fund with a focus on driving innovation in the MENA region, especially in Saudi Arabia.
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