Egyptian trucking logistics startup, Naqla secures $10.5m pre-Series A round
Naqla, an Egyptian trucking logistics startup, has raised a pre-Series A funding round of $10.5 million in order to expand further in 2022.
Naqla, founded in 2017 by Sherif Taher and Samer Sallam, is an app-based trucking technology marketplace that connects truck owners with cargo companies. By automating orders between shippers and drivers, the startup hopes to modernize and expand Egypt’s supply chain.
Naqla has expanded rapidly into more than 35 active zones, supervising the movement and delivery of over 4.6 million tonnes of cargo to date, and currently works with over 400 shippers and 10,500 drivers across Egypt. It now intends to expand further after raising a pre-Series A round of $10.5 million.
El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam family led the round, and Naqla will use the proceeds to further its commitment to advancing technology and digitisation, positioning the company for growth and development in 2022.
“We are now perfectly positioned to expand our digital logistics offering and market presence, bringing much-needed technology infrastructure to Egypt’s underserved logistics and trucking industry at a critical juncture in the country’s economic growth.” “We thank our investors for their participation in the Naqla journey – this investment will allow for the rapid acceleration of our business and our planned vertical expansion into our new segments,” Taher said.
Farouk Kadous, board member at El Sewedy Capital, expressed his excitement to join Naqla on its journey to completely transform the logistics infrastructure in the region.
“We have tremendous expertise in the infrastructure space, and this investment will increase synergies among our various portfolio companies.” “We love the Naqla leadership team and are betting not just on market size, but also on their grit and vision,” he said.
