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Funding secured: $1.7 million for Nowlun's freight forwarding platform in Egypt

Digital freight forwarding platform Nowlun based in Alexandria successfully secures $1.7 million in a seed funding round, according to recent announcements. The funding round was spearheaded by Nama Ventures and A15, with additional investments from Sanabil 500 Global and angel investors....

Freight forwarding platform, Nowlun, secures $1.7 million in seed funding from Egypt
Freight forwarding platform, Nowlun, secures $1.7 million in seed funding from Egypt

Funding secured: $1.7 million for Nowlun's freight forwarding platform in Egypt

Alexandria-based digital freight forwarding platform, Nowlun, has recently raised $1.7 million in a seed funding round. The funding round was led by Nama Ventures and A15, with participation from Sanabil 500 Global and angel investors.

Nowlun, founded in 2021 by Moataz Khamis, Mahmoud Khaled, and Ahmed Emara, aims to transform the freight forwarding industry using cutting-edge technology. The platform's digital transformation approach targets the fragmented shipping industry, automating and consolidating information to provide transparency and better control over logistics operations.

Nowlun's AI-powered Smart Logistics Assistant simplifies and streamlines the shipping process. Users can compare and book tailored shipping services easily, helping businesses move full container loads (FCL) and bulk cargo faster and more efficiently. The platform offers real-time tracking and instant updates, addressing the sector’s traditional inefficiencies dominated by manual processes.

The funding will be used to accelerate Nowlun's expansion plans and further develop its technology platform. Mohammed Alzubi, founder and managing partner of Nama Ventures, expressed admiration for Nowlun's deep domain expertise, strong traction in the Saudi market, and clear vision for disrupting the logistics space. Bassem Raafat, Principal at A15, also expressed confidence in Nowlun's vision to drive efficiency, transparency, and innovation across the supply chain ecosystem.

Nowlun's digital platform integrates with major shipping lines to offer real-time pricing and shipping management features, including tracking of shipments. The platform streamlines the entire shipping process from price comparison to customs clearance and inland trucking. Nowlun offers its services all over the region from its offices in Egypt and Saudi Arabia.

Moataz Khamis, CEO and co-founder of Nowlun, stated a commitment to using the funds to revolutionize the freight forwarding industry. A15 is thrilled to partner with Nowlun in its mission to make pricing and service comparisons transparent, and deliver faster and smarter logistics solutions across Egypt and neighboring markets like Saudi Arabia.

[1] Nowlun's website: https://nowlun.com/ [2] A15's website: https://www.a15.com/ [3] Nama Ventures' website: https://namaventures.com/ [4] Sanabil 500 Global's website: https://sanabil500.com/

[1] The technology platform developed by Nowlun aims to revolutionize the freight forwarding industry and streamline the shipping process.

[2] The funding raised by Nowlun will be utilized to accelerate its expansion plans and further develop its technology platform, providing faster and smarter logistics solutions.

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