Naqla, a Cairo-based logistics tech startup, and online trucking platform have raised $10.5 million in its most recent funding round.
Major investors El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam Family led the Pre-Series A investment.
Sherif Taher and Samer Sallam, who founded Naqla in 2017, have grown the company to a 165-person team spread across all of the country’s major cities while integrating several strands of technology and instant pricing to provide an exceptional first-class consumer experience for both shippers and truckers.
Naqla’s major goal is to use technology to modernize and extend Egypt’s supply chain by automating orders between shippers and drivers via its two main apps.
Many of Egypt’s 1.5 million trucks are owned by individual drivers, whom Naqla hopes to sign up for its Carrier ecosystem, which includes roadside assistance, financing, insurance, health care, and maintenance.
“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,” Sherif Taher, Co-Founder and Chief Executive Officer of Naqla, said in light of this platform-boosting fundraise. We appreciate our investors’ contributions to the Naqla journey; this investment will allow us to accelerate our business and expand vertically into new segments.”
Since its inception in 2017, Naqla has grown rapidly into 35+ operational zones, controlling the movement and delivery of over 4.6 million tonnes of goods, and now works with over 400 shippers and 10,500 drivers across Egypt.
The startup will use the funds to expand technology and digitization, putting the company in a strong position for growth and development in 2022.