Riyadh, Saudi Arabia – PIESHIP, a leading smart logistics and last-mile solutions provider, has successfully closed its SEED funding round, raising SAR 7.855 million ($2.1 million). The investment round was led by Nama Ventures, with participation from SEEDRA Ventures and other prominent angel investors.
The fresh funding will support PIESHIP’s ambitious expansion plans across the Saudi market. The company aims to extend its operations into seven major cities, including Jeddah, Makkah, Madinah, Dammam, Al Khobar, Qassim, and Khamis Mushait. Additionally, PIESHIP plans to scale its network by increasing the number of registered drivers to 5,000 captains, enhancing delivery efficiency and providing more flexible logistics solutions.
Nasser Alharthi, Co-founder and CEO of PIESHIP, emphasized the significance of this milestone, stating:
“Closing our SEED funding round, led by Nama Ventures, reflects investors’ confidence in our vision and strategy. We will continue investing in the development of our logistics technologies, particularly AI-powered solutions to manage our driver network. This will allow us to offer faster and more efficient services, ultimately enhancing customer experience and last-mile delivery operations.”
Mohammed Al-Zoubi, Founder and Managing Partner at Nama Ventures, highlighted the investment’s potential impact:
“At Nama Ventures, we believe in supporting startups with a clear vision and the potential to make a significant impact. PIESHIP has demonstrated its ability to provide innovative solutions for the last-mile logistics sector, and we are proud to lead this investment round, contributing to the company’s continued success and expansion.”
Looking ahead, PIESHIP will focus on:
- Enhancing user experience through improved tracking and communication systems.
- Launching new services to support the logistics sector.
- Developing advanced AI solutions for fleet management and data analysis to improve delivery efficiency and reduce transit times.
Founded in late 2023 by Nasser Alharthi, Musaed Al-Ameri, and Mohammed Mohsen, PIESHIP leverages technology to optimize last-mile delivery. The company’s platform provides intelligent shipment analysis, driver routing, and route optimization using artificial intelligence, ensuring seamless and efficient logistics solutions.
