Riyadh’s WeDeliver Secures $2.4M in Pre-Seed Investment Round
The company will use its new funds for deepening local and regional operations.
Riyadh-based business-to-business (B2B) startup, WeDeliver, has announced it has secured $2.4 million in a Pre-Seed round led by Saudi logistics company Salasel Alemdad, VEST investment company, Palestine Paltel Telcom Group, the Mutasami family fund, Arcom Technologies, along with Angels from leading management consulting firms, members of the Riyadh Chamber of Entrepreneurship Organization.
Founded in the trying times of April 2020, WeDeliver’s operational model provided cost-efficient last-mile delivery services promising same-day delivery for same city shipments, a service that would prove to be axial in the shift away from interpersonal dealings during the outbreak of COVID-19.
The tech-driven platform connects e-commerce businesses with drivers heading in their direction to deliver parcels to the end-consumers, as well as crowdsourcing its sorting hubs, resulting in practical locations used as collection spots for an easier and faster pick-up and drop-off operation.
Mohammad Abu Kwaik, Co-founder and CTO of WeDeliver stated “we are on a mission to develop a unique product to serve the fast evolution of our operations and to meet the fast-growing market’s needs.”
“Our operational model is incomplete without equipping it with top-notch technology solutions to enhance user experience, with more focus on the automation, optimisation and using data.”
WeDeliver plans to use the new funds to deepen operations into both the Saudi and regional markets, as well as further develop its technology.
