Saudi Arabia-based e-commerce enablement startup Salasa, has raised $8.6 million (SAR 32 million) in a Series A round, led by AlSulaiman Group, with participation from Saudi Venture Capital Company (SVC) and 500 Startups.
The company plans to deploy the new capital to expand its services across Saudi Arabia and the Gulf, grow its team and grow its network of partners.
“We are excited to have partnered with leading investors in the region and look forward to their valuable advice and support in backing our growth. Our ongoing strategy is to maintain transparency, be flexible in our services and able to scale our business to the next level. We would like to replicate this in all the markets we establish,” said Abdulmajeed Alyemni, co-founder and CEO of Salasa.
Established in late 2016 by Abdulmajeed Alyemni and Hasan Alhazmi, Salasa offers pick-up and packing services alongside multiple shipping options to help reduce overhead costs for e-commerce companies. Salasa also receives, scans, and shelves e-commerce products in its warehouses.
“Our clients receive the products they order online delivered at their doorstep by the click of a button. Since its launch, Salasa has been a game changer in the Kingdom, helping brands to grow faster by eliminating their logistic pains and focus on customer fulfillment,” added Alyemni.
To-date, Salasa has shipped more than 10 million products and served more than 300 local and international clients across more than 15 industries.
“We are poised for growth and we are aggressively investing in our proprietary technology to achieve superior operational excellence and utilise predictive analytics and insights to help our customers in making strategic decisions. The market outlook indicates significant growth in this sector, and we are confident, as experts in this field, we can meet client demands, faster, with better delivery experience, at affordable prices,” said Hassan Alhazmi, co-founder and chief operating officer (COO) of Salasa.
Saud AlSulaiman, CEO of AlSulaiman Group said: "We feel proud to lead this investment round in a startup that provides services with a business model that promises rapid growth and development, especially in these difficult times where the world is going through with Covid-19 pandemic and the urgent need to rely on e-commerce and supply chain. Our previous investments in the logistics industry can give a boost to Salasa where they can collaborate and build synergies."