Arabnet Arabnet

Mile has successfully secured its Seed funding round led by Riyad TAQNIA Fund (RTF). The objective of this investment is to grow the Mile platform and related products through further technology development, as well as for sales and marketing support.

Mile provides mobile supply chain last mile solutions for small and medium businesses. The company embarked upon solving a persistent road logistics problem in the region, paper invoice related inefficiencies and theft related leakages that exist in the last mile delivery process currently. The startup helps business owners optimize the entire sales order processes, fulfill on-demand deliveries and enables them to capture larger market share through intelligent customer insights.

Mile Suite is the company’s flagship; SaaS delivery and Sales management platform, helping SMEs automate existing fleets, drivers and field force. It empowers businesses through actionable business intelligence, real-time geo-aware data, leverages the latest in IoT technologies, and ensures data protection and security. The mobile cloud-based platform manages the sales, deliveries, invoices and orders for businesses in real-time.

Adel Al Ateeq, deputy CEO at Riyad Capital, commented on the investment, “The investment in Mile is a natural extension of RTF’s efforts to scale regional startups addressing ‘pain points’ in road logistics and in particular the friction accompanying the last mile delivery. We believe that Mile could become a leading logistics solution company in the GCC region and we intend to support the business as it grows in the UAE and KSA, as well as in other, new markets regionally".

“This has been an incredible year for us!” said Shawar Javed, CEO and Co-Founder of Mile, “This investment is a strong endorsement of our strategy so far. Our new financial partners will support us to develop our unique technology even further and faster than before, continue to buildout strategic partnerships with business leaders and allow us to expand our services in the UAE, the Kingdom and GCC-wide in a timely manner”.

Fawad Ahmed, CTO and Co-Founder, added, “We are thrilled to have RTF as our new partners in the pursuit of solving last mile delivery problems in the region.”