{"id":656351,"date":"2024-12-03T00:00:00","date_gmt":"2024-12-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/nowlun-secures-usd-1-7-mn-in-seed-funding-round-to-drive-regional-expansion\/"},"modified":"2024-12-03T00:00:00","modified_gmt":"2024-12-03T00:00:00","slug":"nowlun-secures-usd-1-7-mn-in-seed-funding-round-to-drive-regional-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/nowlun-secures-usd-1-7-mn-in-seed-funding-round-to-drive-regional-expansion\/","title":{"rendered":"Nowlun secures USD 1.7 mn in seed funding round to drive regional expansion"},"content":{"rendered":"

Local and regional investors lead N<\/strong>owlun <\/strong>seed funding round: <\/strong>Egyptian digital shipping platform Nowlun<\/a> has raised USD 1.7 mn in a seed funding round led by Saudi Arabia\u2019s Nama Ventures and Egyptian VC A15, with participation from Sanabil 500 Global and prominent angel investors, according to a press release<\/a>.<\/p>\n

Where is the money going? <\/strong>The funds will be used to accelerate Nowlun\u2019s expansion in the MENA region, enhance its shipment management platform, and expand its real-time cargo tracking capabilities, Al Mal<\/a> reported, citing the company CEO Moataz Khamis<\/a>.<\/p>\n

What\u2019s next?<\/strong> Nowlun aims to expand its workforce from 40 to 100 employees by 2025 to support its regional and global growth plans. The company also plans to add Jeddah and Damman branches to its current roster of offices in Cairo, Alexandria, and Riyadh next year, according to Khamis.<\/p>\n

Another funding round is also in the works: <\/strong>Nowlun plans to launch a fresh investment round in the second half of 2025.<\/p>\n

What they said:<\/strong> \u201cDriven by a sense of responsibility, my team and I are committed to transforming this industry using cutting-edge technologies. This funding will enable us to further simplify the shipping process and make shippers\u2019 lives easier,\u201d said Khamis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The startup aims to expand regionally, enhance its platform, and expand real-time cargo tracking<\/p>\n","protected":false},"author":1,"featured_media":656352,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,145,8928,95,123,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-656351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-logistics","tag-nowlun","tag-startup-watch","tag-startups","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"0196f0a9-9cd7-4534-9f6f-987cf841d017","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/217.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Nowlun secures USD 1.7 mn in seed funding round to drive regional expansion","related_issue":[656337],"teaser":"The startup aims to expand regionally, enhance its platform, and expand real-time cargo tracking","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.ed42e738-75d7-4fb0-8da7-c964ee54ec26.mp3"},"yoast_head":"\nNowlun secures USD 1.7 mn in seed funding round to drive regional expansion - 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The funding came either following the companies closing pre-seed rounds, or as boosters to companies that are looking to expand and complete acquisitions.The startups: The Egyptian startups include Cairo-based delivery service ShipBlu, ins.\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/76.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616060,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/28\/moneyhash-secures-usd-4-5-mn-in-seed-funding-plus-acacia-invests-in-kenyan-startup-tappi-saudis-corevision-acquires-vefund\/","url_meta":{"origin":656351,"position":2},"title":"MoneyHash secures USD 4.5 mn in seed funding. 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