Naqla Raises $10.5m Pre-Series A Round
The Egyptian trucking logistics startup is an app-based trucking technology marketplace connecting truck owners with cargo companies.
Naqla said it has raised a US$10.5 million pre-Series A funding round to allow it to further expand in 2022.
The startup said the goal is to modernize and expand Egypt’s supply chain by automating orders between shippers and drivers.
The company revealed that it has seen rapid growth into more than 35 active zones, overseeing the movement and delivery of over 4.6 million tonnes of cargo so far, and is currently working with more than 400 shippers and 10,500 drivers across Egypt. It now plans further growth after raising a US$10.5 million pre-Series A round.
The round was led by El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam family, and Naqla will use the proceeds to invest further in its commitment to advancing technology and digitisation, positioning the company for growth and development in 2022.
Sherif Taher, Naqla Co- Founder said: “We are now perfectly positioned to grow our digital logistics offering and market presence, bringing a much-needed technology infrastructure to the badly served Egyptian logistics and trucking industry, at a critical time in the country’s economic growth. We thank our investors for their part on the Naqla journey – this investment will enable rapid acceleration of our business and our planned vertical expansion into our new segments.”
Farouk Kadous, board member at El Sewedy Capital, said: “We have tremendous expertise in the infrastructure space, and this investment will increase the synergies between our different portfolio companies. We love the leadership team at Naqla and are not just betting on the market size, but on their grit and vision.”