Nowlun, an Egyptian logistics startup, has secured $1.7 million in seed funding to drive its expansion and fast-track the development of its platform.
The seed funding round, led by Nama Ventures and A15, saw participation from prominent angel investors and Sanabil 500 Global.
Founded in 2021 by Moataz Khamis, Mahmoud Khaled, and Ahmed Emara, Nowlun is an online freight forwarding platform that allows users to compare different services and pricing options to meet their needs.
“Over the past decade in logistics, I’ve observed the daily inefficiencies faced by shippers,” said Moataz Khamis, CEO and co-founder of Nowlun. “Motivated by a sense of responsibility, my team and I are dedicated to transforming the industry with advanced technology. This funding will enable us to streamline the shipping process and improve the experience for shippers.”
Mohammed Alzubi, founder and managing partner of Nama Ventures, described Nowlun as a “very interesting” venture.
“We were impressed by their extensive industry knowledge, solid traction in the Saudi market, and clear vision for disrupting the logistics sector. We are confident that Nowlun has the right team to drive this transformation,” he said.
The funding will be used to support Nowlun’s growth goals and speed up the development of its platform, which offers real-time tracking of cargo, efficient shipment management, and immediate, transparent, and competitive ocean freight pricing.