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Hind Al Soulia - Riyadh - Jeddah-based last-mile delivery startup Saee has raised $2.4 million in its Series A funding round. The round was led by Saudi-based Business Incubators and Accelerators Company (BIAC), Tasheel Holding and Abunayyan Holding’s investment arm ABN Ventures.
Saee uses its network of freelancers to facilitate last-mile deliveries for e-commerce platforms across the kingdom. The startup aims to use the funding to fuel local expansion.
“The new funding will enable the introduction of new services such as 45-minute express delivery and enable the company to expand its reach across the Kingdom's urban and rural areas,” said Eihab Nassier, chief executive officer (CEO) of Saee.
“The potential growth in the Kingdom's e-commerce sector is tremendous, but it is likely to create a huge operational challenge for last-mile delivery companies. Saee’s elastic and scalable model will be able to reliably absorb the challenges ahead,” said Nassier.
The startup claims to have more than 1,000 active drivers on its platform, and to deliver more than 5,000 shipments a day
“Saee is disrupting the last-mile delivery using their light asset model enabling higher efficiency. We at BIAC are always looking to lead the investment rounds to in disruptive homegrown technologies, and we aim to enable entrepreneurs to build and scale their companies, create more jobs in the market and contribute to GDP growth," said Mawaf Al Sahhaf, CEO of BIAC.
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