Grace Ashiru
Nowlun, an Egyptian logistics company, has raised $1.7 million in seed funding to accelerate its expansion plans and enhance platform development.
The seed funding round was led by Nama Ventures and A15, with 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 tailored to their needs.
“Over my ten years in logistics, I’ve seen firsthand the daily challenges faced by shippers,” said Moataz Khamis, CEO and co-founder of Nowlun. “Motivated by a sense of duty, my team and I are dedicated to revolutionizing the industry through innovative technology. This funding will enable us to streamline the shipping process and ease the lives of shippers.”
Nama Ventures’ founder and managing partner, Mohammed Alzubi, described Nowlun as a “highly intriguing” venture.
He added, “We were impressed by their extensive industry knowledge, strong presence in the Saudi market, and a clear vision to disrupt the logistics sector. We have no doubt that Nowlun has the right team to drive this transformation.”
The funding will be used to fuel Nowlun’s growth goals and expedite the development of its platform, which offers real-time tracking of cargo, simplified shipment management, and instant, transparent, and competitive ocean freight pricing.
