DUBAI: Riyadh-based storage and delivery startup Diggipacks has acquired shares in its Egyptian counterpart FWRUN and will expand its business in the country, the companies said in a statement.
The acquisition will see the companies exchange expertise, resources, and technology, as well as support their expansion between Saudi Arabia and Egypt.
The value of the investment was not disclosed.
Diggipacks provides middle-mile and last-mile delivery services, while FWRUN offers a fulfillment center with storage facilities and handling services.
The deal happens amid a growing volume of startup investment transactions in the delivery and logistics sector in both countries in the first half of 2021.