KSA's PIESHIP Bags US2.1 Million Seed Led By Nama Ventures

PIESHIP, a provider of smart logistics and last-mile solutions based in Riyadh, has secured US$2.1 million in a seed funding round spearheaded by Nama Ventures, with contributions from several leading investment funds, including SEEDRA Ventures, along with angel investors.

The funding aims to drive PIESHIP’s growth and expansion efforts in the Saudi market. The company plans to extend its operations to seven key cities, including Jeddah, Makkah, Madinah, Dammam, Al Khobar, Qassim, and Khamis Mushait. Furthermore, PIESHIP aims to expand its network by increasing the number of registered drivers to 5,000 captains, improving delivery efficiency and offering more adaptable logistics solutions.

Founded in late 2023 by Nasser Alharthi, Musaed Al-Ameri, and Mohammed Mohsen, PIESHIP is a technology-driven platform that optimizes last-mile delivery management using artificial intelligence (AI). The company uses AI to power its smart system for shipment analysis, driver routing, and route optimization, enhancing efficiency and precision in logistics operations. 

In the coming months, PIESHIP will prioritize enhancing user experience by refining tracking and communication systems, introducing new services to strengthen the logistics sector, and developing advanced AI-driven solutions for fleet management and data analysis to boost delivery efficiency and minimize transit times. 

In a statement, Alharthi, co-founder and CEO of PIESHIP, said, “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, added, “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.” 

This is the second round that sees participation from Nama Ventures and SEEDRA Ventures after both contributed to PIESHIP’s pre-seed investment round in February 2024.  

Pictured on image: Nasser Al-Harithi, Mohamed Mohsen, and Mosaad Alharthi. Image courtesy PIESHIP.