Bahrain-based delivery service firm Parcel raises $1M on Beban TV show
Founded in 2019, Parcel connects businesses with freelance drivers. The raised capital will be used by the startup to expand to Saudi Arabia and Kuwait.
Parcel, a logistics solution that offers on-demand delivery services, has raised $1 million from Hope Ventures, Saud Arabia's online food delivery platform , and Abdulla Almutawa, Founder and CEO of restaurant marketing platform, Cari.
The fundraise took place on the eighth episode of the reality show, Beban Season 2. Hope Ventures is the investment arm of Hope Fund and the producers of the show.
The raised capital will support the startup's plans for regional expansion to Saudi Arabia and Kuwait, as per a press release shared by Wamda.
In addition to this, the target is to develop a user-centric solution that also enables merchants to take their business online and expand their global reach.
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Founded by Ali Dhaif in 2019, Bahrain-based Parcel enables its services by connecting businesses with freelance drivers.
Through its tech platform, businesses and aggregators can 'instantly' request as well as allocate drivers to deliver orders to customers, while also managing payments for drivers, analysing performance, and keeping a track of deliveries.
In the Beban TV show, entrepreneurs pitch their businesses to a panel of investors from the region and stand a chance to raise investment and find business opportunities.
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Edited by Megha Reddy