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Egyptian logistics startup Naqla raises $10.5 million pre-Series A funding for expansion.

Naqla, Egypt’s trucking technology platform and marketplace connecting truck owners with cargo companies, has raised $10.5 million in a pre-Series A round. The round was led by major investors El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam Family.

Naqla’s key objective is to use technology to modernize and expand Egypt’s supply chain by automating orders between shippers and drivers via its two main apps.

Since its establishment 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.

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Naqla’s business model caters to Egypt’s historically underserved road freight sector, which has grown in importance since the start of supply-side constraints caused by Covid. Businesses are constantly looking for ways to improve inland transportation efficiency from Egypt’s major entrance and exit ports in order to keep commodities flowing through their supply chains.

The rapid growth of Egypt’s construction and consumer goods industries has increased demand for trucking, which currently employs 2% of the workforce and accounts for 3-4 percent of GDP – $13 billion in Egypt and $45 billion across the Mena region.

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Many of the 1.5 million trucks in Egypt are owned by individual drivers, whom Naqla aims to onboard onto its Carrier ecosystem, consisting of road assistance, finance, insurance, health care and maintenance.

Naqla will use the proceeds of this investment to invest further in its commitment to advancing technology and digitization, positioning the company for growth and development in 2022.

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Since establishing the business in 2017, founders Sherif Taher and Samer Sallam have expanded Naqla into a 165-person organization spread across all the major country locations while integrating several strands of technology and instant pricing to provide an exceptional first-class consumer experience for both shippers and truckers.

Sherif Taher, Co-Founder and Chief Executive Officer of Naqla, commenting on the fundraising, 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.”

Weddy Thuranira
Weddy Thuranira
Weddy profiles new startups and innovators across Africa and announces funding rounds, mergers, acquisitions and startup partnerships across Africa. She is based in Nairobi, Kenya. Reach her and the entire news desk at [email protected]

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