KSA-based NBM acquires stake in DIGGIPACKS
Saudi Arabia's National Building and Marketing (NBM) has acquired a 9% stake in DIGGIPACKS, a Delivery & Logistics startup based in the Kingdom. The moves comes off the back off a recent $400K Pre-Seed investment for the startup, which featured participation from YOUXEL Ventures, OQAL, and other Saudi angel investors.
Launched in 2020, DIGGIPACKS was founded by Hasan Jabarti & Amin Al-Atrash who have 20 years of experience in the logistics, last-mile, cold-chain & fulfillment sectors, with the aim of making a footprint within the industry. DIGGIPACKS currently covers over 13 locations in Saudi Arabia and is integrated with multi-vendors in the delivery business.
The startup has already integrated with more than 30 last-mile companies in the market and is aiming to reach a number of 5 fulfillment centers by the end of 2021.
Hasan Jabarti, CEO of DIGGIPACKS commented “This agreement will introduce DIGGIPACKS to the trucking industry in the Saudi market and start aggregating this segment under the 4PL concept that DIGGIPACKS in already based upon.”
NBM is committed to approving DIGGIPACKS as a provider of transport services without preferential conditions, provided that the volume of transactions within a conclusion of the deal is not less than 15 million riyals.
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