From 2022-2024 UNHCR, the UN Refugee Agency, and Agility, a global leader in supply chain services, infrastructure and investment, continued with their partnership to support education for 3,900 refugee children in Egypt. 

Agility first partnered with UNHCR in 2016. Agility’s latest donation will pay for tuition, transportation, uniforms, books, stationery and devices such as computers for nearly 4% of the total 51,000 school-age children receiving educational support from UNHCR in Egypt.

“Many forcibly displaced families face difficulty accessing education because of the growing needs and difficult living conditions. Agility’s kind contribution will support our efforts in making the education of refugee children more accessible, helping them build a better future.” – stated UNHCR’s Representative in Kuwait, Nisreen Rubaian.

UNHCR estimates that more than 103 million people have been forced from their homes across the world due to war, conflict, persecution, and human rights violations, a record number representing 1.2% of the global population.

“The world’s refugee population is growing at an alarming rate as people flee conflict and violence, economic deprivation, and the devastation of natural disasters and climate change,” said Tarek Sultan, Agility Vice Chairman. “Host countries find themselves overwhelmed and unable to meet the needs of those who cross their borders seeking protection. We have to find cost-effective ways of supporting people and providing them with the means to learn, work and thrive, or we risk losing a generation of young people who have much to contribute.”

Egypt hosts more than 288,000 refugees and asylum seekers, 32% of whom are children and youth of school age. UNHCR Egypt supports refugees and asylum seeker families with school-age children by providing education grants for their enrollment in Egyptian public schools under the supervision of the Ministry of Education. In addition, UNHCR supports the education of refugees and asylum seekers in urban settings at the primary, secondary, and tertiary levels.

Since 2020, Agility has donated to fund a UNHCR outreach center in Johor, Malaysia where 4,000+ Rohingya refugees and others received shelter, healthcare, education, skills training and other critical services. In Jordan, Agility’s donation helped fund UNHCR’s Job Matching program, linking 180+ refugees with potential employers. Through the program, UNHCR arranged interviews and placed refugees in agriculture and construction jobs or other livelihood opportunities.

Globally, Agility has reached out to help those affected by natural disasters and other crises, providing supply chain expertise and resources in collaboration with commercial partners, relief groups and international institutions. In the past, Agility has supported UNHCR’s work in the Middle East, assisting Syrian refugee families (close to 2,500 individuals) through fundraising and donations. To find out more about Agility’s sustainability activities, visit sustainability.agility.com.

2023 training program for 1,000 students with expanded participation from young girls

Kuwait – 29 January 2023 – CODED Academy, the First Coding Academy in the Middle East – Based in Kuwait, is teaming up with Agility and other well-known local companies to launch Kuwait Codes, a free program that will train 1,000 high school students in programming languages and frameworks.

The Kuwait Codes initiative, now in its third year, aims to provide the basic digital skills that the country’s future workforce needs in order to build a successful knowledge- and innovation-led economy. To date, more than 1180 students have received free training through Kuwait Codes.

The 2023 program will focus on four distinct knowledge areas: Website programming, Game development, Python Programming, and Flutter. The intensive course runs over 3 main cohorts.

Ahmad Marafi, CEO OF CODED Academy, said: “We are pleased to partner with Agility in this strategic partnership to launch the Kuwait Codes initiative. It allows any high school student in Kuwait to learn coding and software development for free.  Agility, like CODED Academy, is also keen to ensure that girls are able to fully participate and complete the Kuwait Codes program. Our goal is 50% female participation in the 2023 program.  We want to extend our gratitude to Agility and all the supporters involved for contributing to this great initiative, which will benefit about 1,000 Kuwait youths.  Agility has previously supported CODED Academy’s Unicode program, which provided free training and skills development to more than 300 university age young people.  We’re proud to again have Agility as a Strategic Partner, and we’d like to thank the Agility team for contributing their time and effort to be part of our 2023 Kuwait Codes program.”

Henadi Al Saleh, Agility Chairperson, said: “Agility has long supported educational initiatives in the communities where we operate, especially initiatives that support the development of technical and digital capabilities, key skills we need in our workforce. CODED provides students in Kuwait with practical coding skills that set the foundation for the future. I look forward to seeing the progression and growth in the coming Kuwait Codes cohorts, especially progress achieved in girls’ participation.”

Hashim Behbehani – COO said: “I want to extend my warmest invitation to all eligible high school students in Kuwait to participate in this year’s Kuwait Codes program, especially to girls who are interested in apps and software development.  We will do our best to create space for any eligible student, and we will provide you all the tools, resources and support you need to be successful!

“I’d also like to thank Agility for its support of this year’s program.  I’d also like to thank Agility for engaging with us to ensure that girls can fully participate and complete this training.  Our goal is to make it super easy for participating students to understand the fundamentals of application development, and to help students to transition from classroom projects to “real” applications. I’m looking forward to seeing all the inspirational and very real apps this year’s participants will develop as part of this training!”

Registration for the Kuwait Codes program is now open. Female and male students are welcome to participate and can apply for the Kuwait Codes program by following CODED’s social media accounts at @Joincoded @kuwait_codes.

In 2022, Agility supported CODED’s UniCode program which provides digital coding basics to undergraduate students, and it has been organized with the support of the Computer Engineering Society (CPES) at Kuwait University, reaching 335 students, 60% of whom were female.

 

27 January 2023, Kuwait: SAL Saudi Logistics Services and Menzies Aviation have signed a Memorandum of Understanding to develop a comprehensive study on delivering best in class passenger handling services for low-cost carriers at Saudi Arabia airports.

Under the MoU, Menzies Aviation and SAL Saudi Logistics Services will work together to explore the potential of providing passenger handling services for low-cost carriers at Saudi’s airports with the aim of implementing industry best practice to improve passenger services, enhance the efficiency of operations, and support the Kingdom’s Vision 2030 targets associated with upgrading and developing airport services to be on par with the world’s leading and most advanced international airports.

SAL Saudi Logistics Services is the market leading air cargo handler in the Kingdom of Saudi Arabia and recently obtained a license to provide ground handling services in Saudi airports from the General Authority of Civil Aviation (GACA), enabling the company to continue offering high quality, professional logistics services at the Kingdom’s airports.

Menzies Aviation is the world’s largest aviation services company with operations at more than 250 airports in 58 countries. It provides ground services, fuel services and air cargo services.

Emphasizing the importance of the agreement with Menzies, Mr. Faisal AlBedah, Managing Director and CEO of SAL Saudi Logistics Services, stated: “This MoU will enable SAL to utilize Menzies’ global capabilities and expertise. It is also aligned with our ambitious vision to become the logistics champion for a globally connected Saudi Arabia. We believe the MoU will result in significant improvements in Saudi’s airport services, increasing capacity and enhancing the customer experience and satisfaction, in line with the highest international safety and security standards.”

“Our approach complements the National Transport and Logistics Strategy, in parallel with the Kingdom’s Vision 2030 towards welcoming 330 million travelers by 2030,” AlBedah explained. “This will be achieved by offering cutting-edge innovation, integrated logistics services in airports and building a wide network linking domestic airports, seaports and land transport hubs to ensure the ongoing development of this vital sector and increase its contribution to the Saudi GDP, as well as driving the national economy in light of the Kingdom’s ambitious vision.”

Philipp Joeinig, CEO, Menzies Aviation, said: “This collaboration has huge potential not only for our businesses, but for the country’s aviation industry more broadly as the Saudi 2030 vision aims to increase passenger numbers significantly by the end of this decade. The agreement strengthens our position and relationships in the Middle East, which is a key market for Menzies as we look to accelerate our growth and bring the highest standards of aviation services to countries all over the world. I would like to thank Mr AlBedah and the team at SAL for the opportunity to work together and explore how we can help unlock the potential of Saudi’s airports.”

A leading national provider offering end-to-end logistics services, SAL Saudi Logistics Services key areas of expertise include cargo handling for numerous airlines operating in Saudi airports, in addition to providing comprehensive logistic solutions to its partners in other sectors, including sports, entertainment, culture and arts. This aligns with the Kingdom’s Vision 2030, which gives special attention to this vital sector and prioritizes the Kingdom’s transformation into a global logistics hub and an international center for cargo and shipping services.

Agility donation funded the construction of a sensory gym at the Kuwait Society for the Handicapped

KUWAIT– December 13, 2022 – Agility, an operator and long-term investor in supply chain services, infrastructure, and innovation, has partnered with the Kuwait Society for the Handicapped (KSH) to build the country’s first international-standard sensory gym.

Agility’s donation allowed KSH, the first charitable society in Kuwait to offer free services to children with disabilities from all nationalities, to outfit the gym with clinical equipment and furniture designed to improve the user’s sense of movement, body positioning, balance, and spatial awareness.

KSH therapists will be able to guide users through activities intended to increase fine motor skills, strength, flexibility, coordination, and body awareness.

The gym will help approximately 100 children with disabilities per year to improve their motor and behavioral skills.  The facility will be used in 600 training sessions each year to enable these children to learn and improve coordination, movement, and motor skills while also supporting their ability to better use physical sensory inputs and information.  In the KSH facility and program, the children will have opportunities to experience movement and use their senses to play, learn motor skills and continue behavioral development.  The sensory gym environment is structured to provide the child with the sensory input needed according to their needs to improve their ability to learn and practice Activities of Daily living.

About the partnership, KSH Director General Dr. Elham Al Hamdan said: “Ensuring that children with disabilities in our community have access to training and development is an important task for our communities.   Sensory Integration Therapy ispositive difference-maker for these special children and their families, caregivers, and teachers.  The kind of training that KSH provides for these children helps them to have more positive interactions with their world.  But it’s a complicated challenge that requires support from our community – especially from socially conscious business leaders like Agility.  By partnering with leading companies like Agility, KSH will enable hundreds of children to better opportunities for growth and development.”

Agility Vice Chairman Tarek Sultan said: “At Agility, we put community education and development at the forefront of our sustainability strategy.  We are proud to help KSH succeed in its mission to provide education and skills development to the most gifted people from our community. KSH is a world-class organization that delivers the highest quality of therapeutic rehabilitation to children with disabilities at no cost to their families.   The society has a monumental mission to accomplish, and we are humbled to have this opportunity to help KSH to achieve their goals because it will help hundreds of children with disabilities and their families to have an improved quality of life through world-class motor skills and behavioral development training.  We congratulate KSH for the development of this facility, and we thank them for all the work they do to help these children to have better opportunities for community interaction and improved quality of life.”

KSH is a private charity established in 1971 by devoted volunteers eager to offer services for children with disabilities and to ease the burden on families and caregivers guiding them toward improving the education and rehabilitation of their loved ones with disabilities. And since its establishment, the Society has continued to provide integrated care and services which include comprehensive rehabilitation, psychological, social, and educational services at its headquarters and educational centers in three locations, Hawally, Jahra, and Ahmadi.

 

 

 

Q3 2022

(Million KD)

Q3 2021

(Million KD)

Variance

(%)

9M 2022

(Million KD)

9M 2021

(Million KD)

Variance

(%)

Revenue 256.3 124.5 105.9% 526.8 344.7 52.9%
Net Revenue 145.5 64.3 126.2% 284.7 181.6 56.8%
EBITDA 45.8 29.1 57.5% 116.8 87.5 33.5%
Net Profit from continuing operations 12.6 8.5 48.3% 41.4 25.3 63.7%
Net Profit discontinued operations 918.4 952.8
Net Profit 12.6 926.9 -98.6% 41.4 978.1 -95.8%
EPS (fils)

from continuing operations

4.95 3.36 47.3% 16.36 10.01 63.4%

Numbers above are rounded

 

KUWAIT – November 15, 2022Agility, a long-term investor and operator in supply chain services, infrastructure, and innovation, today reported third-quarter earnings of KD 12.6 million, or 4.95 fils per share, an increase of 48.3% over the same period in 2021 excluding the earnings reported last year from GIL. Agility’s EBITDA increased 57.5% to KD 45.8 million and revenue was KD 256.3 million, an increase of 105.9%.

The Q3 numbers include two months of results from Menzies Aviation, which was acquired by Agility during the quarter. On a like-for-like basis, excluding Menzies numbers, earnings stood at KD 10.8 million, an increase of 27.7% over the same period in 2021, again excluding the earnings reported last year from the sale of GIL. Agility’s EBITDA increased 21% to KD 35.2 million and revenue was KD 166.8 million, an increase of 32.2%.

For continuing operations, Agility’s earnings through nine months of 2022 were KD 41.4 million, or 16.36 fils per share, an increase of 63.7%. EBITDA for the nine months was KD 116.8 million, an increase of 33.5%; revenue was KD 526.8 million, an increase of 52.9%.

Q3 2022 performance

Agility Vice Chairman Tarek Sultan said: “Agility reported good results in this quarter despite challenging market and geopolitical conditions. Our controlled businesses continued to perform well and execute their growth strategies. Our investment segment was impacted by the broader stock market performance. However, Agility is a strategic investor. We look beyond the movement in the daily share price as we take a strategic long-term view of these businesses, and we have conviction that they will deliver value, growth and returns for our shareholders over the long term.”

Sultan said “Agility’s acquisition of UK-based aviation-services provider John Menzies PLC, completed in Q3, is part of Agility’s strategy to add and grow core businesses with the potential for strong returns. By combining our National Aviation Services (NAS) business with Menzies, we’ve created a global industry leader with a footprint in developed and developing aviation markets around the world.”

“Agility is a different company today than it was two years ago, but we continue looking to accelerate growth across our portfolio by unlocking value for shareholders, customers, employees, partners and communities,” Sultan said. “Agility will continue to create long-term value by operating and investing in growing sectors and geographies.”

Agility-Controlled Businesses

Agility’s controlled businesses are those the company controls and operates. The performance of this segment is consolidated and reported through Agility’s profit and loss statement. For Q3 and going forward, Agility’s consolidated results will include the performance of Menzies Aviation, which was merged with Agility’s NAS business unit.

For the third quarter of 2022, this segment reported EBITDA of KD 47 million and revenue of KD 256.3 million, increases of 44% and 106%, respectively, over the same period in 2021.

Agility Logistics Parks (ALP) Q3 revenue grew 9.7%. To meet the increasing demand for warehousing space, ALP is optimizing its existing land bank, developing new projects, and looking to acquire additional land, especially in the Middle East and Africa.

In Kuwait, an ALP affiliate is developing 1.2 million sqm of land as industrial and storage complexes in Sabah Al Ahmed residential area. In Saudi Arabia, Agility recently signed an agreement to build a logistics park near Jeddah and operate the park under a 25-year concession. The ALP-Jeddah is to open in 2025.

Tristar, a fully integrated liquid logistics company, reported revenue growth of 75.5% for the third quarter 2022. Tristar won renewal of two large long-term contracts to supply fuels for peacekeeping missions, solidifying the company’s position as the top supplier among those listed on United Nations procurement website. In addition, Tristar’s acquisition of a 51% ownership stake in HG Storage International Limited contributed to its Q3 growth.

Menzies Aviation results, as discussed, combine the Q3 performance of NAS and two months of performance by John Menzies PLC. Menzies Aviation has roughly 35,000 employees and operates t at 254 airports in 58 countries.

United Projects for Aviation Services Company (UPAC) saw a 28.7% third-quarter revenue increase. The increase was mainly attributable to a rebound in airport-related services and parking following the reopening of Kuwait International Airport and easing of post-COVID restrictions, which resulted in an increase in flight and passenger volumes. UPAC expects this trend to continue with a gradual increase in airport traffic in 2022 and beyond.

UPAC is a co-investor in Abu Dhabi’s Reem Mall, on Reem Island, a project with an estimated value of USD $1.3 billion. The retail, entertainment, and leisure attraction is expected to be completed and fully operational in 2023. Carrefour, Reem Mall’s anchor tenant, opened in February 2022. The mall will be the region’s first, fully integrated omni-channel retail ecosystem with digital, e-commerce, and logistics capabilities, bringing together all consumer and retailer services to ensure a seamless customer experience.

At Global Clearinghouse Systems (GCS), Agility’s customs-modernization company, Q3 2022 revenue declined 8.1% from third quarter 2021. The decrease resulted from lower trade volumes. GCS is still pursuing opportunities to increase future growth and diversify its sources of income.

Last month, Agility signed an agreement with the Egyptian government to develop and operate two customs and logistics centers in the Suez Canal Economic Zone, one of the most important trade hubs in the region.

Agility’s Investments

Agility holds non-controlling minority stakes in a number of businesses, both listed and non-listed, with a carrying value of roughly KD 1.2 billion. The carrying value of those stakes declined from the Q2 level of KD 1.4 billion as the result of broader declines in global equity markets. Global markets have been volatile amid increases in interest rates, supply chain disruption, and ensuing economic impact.

As a long-term investor, Agility is focused on the growth potential of these business and their ability to generate value.

Recap of Agility Q3 2022 Financial Performance (Continuing Operations)

  • Agility’s Net Profit from continuing operations grew 48.3% compared to the same period in 2021.
  • Agility’s EBITDA increased 57.5% to KD 45.8 million.
  • Agility’s Revenue increased 105.9%, to KD 256.3 million and Net Revenue increased 126.2%.
  • Agility enjoys a healthy balance sheet with KD 3.1 billion in assets. Net Debt stood at KD 794.8 million as of September 30, 2022 (this excludes lease obligations). Agility has announced that it has increased its credit facilities to finance its business growth plan, which includes the recent acquisition of John Menzies. Reported operating cash flow was KD 45.9 million for the first nine months of 2022.

Investment will help fund company’s international expansion

KUWAIT – October 4, 2022 – Agility, a supply chain services, infrastructure, and innovation company, announced that its venture capital arm, Agility Ventures, has invested in Loop Global, a U.S.-based leader in the development of hardware and software for electric-vehicle (EV) charging stations and networks.

Loop, which operates in all 50 U.S. states and more than 15 countries, said it would use the funds from Agility Ventures and other new investors to support its expansion and growth.

Loop has sold more than 7,000 charging stations worldwide through resellers and distributors that make up a combined network of over 750 electrical contractors. The company’s next generation EV-charging solutions are currently being adopted by municipalities and some of the world’s largest commercial, retail, multi-tenant, fleet and hospitality businesses.

“At Loop, we believe the transition to clean electric vehicles will only move as quickly as the EV-charging infrastructure that is there to support it,” said Dustin Cavanaugh, Co-Founder and CEO of Loop. “Loop is streamlining this transition by making next generation EV-charging infrastructure solutions for property owners that are uniquely affordable and provide the lowest total cost of ownership on the market.” With as many as 230 million electric vehicles expected to be on the road by 2030, the demand for affordable and reliable EV charging infrastructure is extremely high, yet many real estate operators do not know where to begin when it comes to implementing the technology across their properties. Loop’s smart, simple and affordable EV-charging products provide ready-made solutions for passive charging at home, work and on the go.

Henadi Al-Saleh, Agility Chairperson and head of Agility Ventures, said: “The net-zero transition is real, and it’s already in progress. Governments, businesses, and consumers around the world are spending to make greener choices, including on electric vehicles. But to achieve scale, we need to take an ecosystem view. It’s not any one green technology alone that will move the needle, but rather the ability to create the supporting infrastructure that allows for widespread adoption. That’s what we like about Loop — it helps reduce the barriers to cleaner transport for more people.”

Agility has committed more than $170 million to investments in sustainable transportation, energy and technology. Its portfolio includes investments in Hyliion, a U.S. innovator in electrified powertrain systems for commercial trucks; Frete, Brazil’s leading freight marketplace; Volta Trucks, a Swedish manufacturer of middle-mile and last-mile electric trucks; Swvl, a Dubai-based provider of mass transit and shared mobility; and TVP Solar, a maker of high-performing, ultra-efficient solar panels based in Switzerland.

Cavanaugh said Loop, based in El Segundo, California, is looking to locate charging networks “where drivers are already spending the majority of their day, we are enabling consumers to eliminate the burden of having to go out of their way to refuel and allowing them to prioritize convenience above all else,” said Cavanaugh. “Loop has the vision of making EV charging affordable and accessible to the world by empowering property owners with turnkey solutions to create passive and profitable charging networks that prioritize convenience for EV drivers.”

  • Deal announced during Egyptian – Kuwaiti Economic Forum
  • Suez Canal Economic Zone signs contract with Agility to develop and operate customs solution
  • Agility to invest USD 60 million to establish logistics and customs center to serve businesses covering 100,000 SQM in Ein Sokhna and East Port Said
  • SCZONE Chairman Walid Gamal El-Din: “Modernizing customs operations allows Egypt to play an even more important role in the global supply chain.”
  • Agility’s Tarek Sultan: “Our collaboration with the Suez Canal Economic Zone strengthens our reputation as a leading provider of innovative, technology-driven solutions for customs authorities.”

CAIRO – October 3, 2022 – The Suez Canal Economic Zone today announced that it has signed a contract with Agility, a supply chain services, infrastructure and investment leader, to develop and operate a customs and logistics center in the Suez Canal Economic Zone.

The agreement with Agility was signed during the Egyptian-Kuwaiti Economic Forum in the presence of Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZONE), and Tarek Sultan, Vice Chairman of Agility.

Agility will work with SCZone to implement its strategic vision in the areas of services, logistics, and industrial zone support by establishing a technical and logistical arm that will automate customs processes and operations in the SCZone. The automation piece will link the SCZone’s customs departments and relevant government agencies concerned with inspection work. The project, intended to turn the zone into a global logistics hub, will improve the flow of goods and commodities and bring efficiency and lower costs to international companies and investors operating there. Agility invest USD 60 million to build a 100,000 SQM customs and logistics centre in the industrial zone in Ein Sokhna, as well as another 100,000 SQM customs and logistics  centre in East Port Said. The project will be implemented during the second half of 2023.

Walid Gamal El-Din said: “The signing of this contract today with Agility, a leader in customs modernization, is consistent with the Suez Canal Authority’s strategic plan 2020/2025, which aims to create an enticing investment environment and further one of Egypt’s key development goals, which is to create job opportunities through integrated, sustainable economic growth. This agreement will enable the Suez Canal Authority to improve visibility over inbound materials and finished goods and enhance efficiency through a single-window customs platform. The result will be increased commercial activity, quicker release of cargo and better overall operations.”

Gamal El-Din added: “This agreement comes in line with the State’s policies in developing the customs clearance services by building an integrated and automated system that raises overall efficiency of customs operations, reducing accumulation of shipments and goods, while providing the best services possible to investors. This in addition to the facilitated coordination and integration between the Ministry of Finance, tax and customs authorities as well as other government bodies with the economic zone.”

Mr. Tarek Sultan, Vice Chairman of Agility, said Egypt plays a vital role in global and regional trade. He said the ambitious modernization project, along with the other strategic development efforts undertaken by the government, demonstrate the country’s determination to be an economic leader in the future.

“By developing and modernizing the customs and logistics center, the SCZone and the Egyptian government are positioning Egypt to be the one of the world’s most advanced operators and an indispensable 21st century trade partner for MENA, Asia and Europe,” Sultan said. “Companies with a presence in the Suez Canal Economic Zone will have access to the world’s best logistics infrastructure and services. They will be situated at the trade crossroads of the world, amid the fastest-growing markets.

Aids expansion of India-based delivery and order management specialist in Saudi Arabia

KUWAIT – September 26, 2022 Agility, a supply chain services, infrastructure, and innovation company, announced that its venture capital arm, Agility Ventures, has invested in Shiprocket, India’s leading tech-enabled last-mile delivery aggregator and order management platform, based in New Delhi.

Agility’s 2021 investment, through its Agility Ventures corporate venture capital arm, was used to help fund Shiprocket’s expansion in the Middle East.  Since then, Agility has worked to connect Shiprocket with regional and local logistics players and partners, vendors, and others in its corporate ecosystem.

Shiprocket has attracted investment from multiple global and Indian venture capital firms and e-commerce service providers since it was established in 2017. The company simplifies last-mile delivery by consolidating invoices, offering more affordable prices, and locating the fastest, most reliable couriers. Its fulfillment service manages the storage, picking, and packing of merchants’ goods across India. Shiprocket also offers integration with Amazon, Shopify, Magento, and other major marketplaces and sellers. Its products lower return costs, reduce delivery delays and errors, and provide tracking and alerts.

Henadi Al-Saleh, Agility Chairperson and head of Agility Ventures, announced the investment, saying it was part of Agility’s strategy to expand its leadership in digital logistics and e-commerce in high-growth markets through in-house development, acquisitions, and investment in innovative startups.

Al-Saleh said Shiprocket has the “first-mover advantage” in India’s potentially massive e-commerce market and has built successful products for which there is a growing appetite in the Middle East/North Africa, including post-checkout services for smaller digital sellers.

“Shiprocket has excelled by building cutting-edge products that solve major logistics problems for business customers as they scale, much like PayPal supported merchants with payments solutions. It has also managed to plug a big hole in the B2C e-commerce space by offering customers of direct-to-consumer brands a seamless post-checkout experience that includes delivery,” Al-Saleh said.

Akshay Ghulati, Co-Founder of Shiprocket, said: “The Middle East is a key market for Shiprocket and we are working towards providing the best technology solutions for e-commerce sellers, D2C brands and SMEs in the region via our Shiprocket Direct and Wigzo platforms. We are excited to welcome Agility as an investor in Shiprocket and look forward to working with them as we look to grow in the region.”

Agility Ventures has invested in e-commerce innovation companies in the United States, India, Egypt, and Saudi Arabia, among them Bread, Eunimart, ExpandCart, and Zid. Agility’s Shipa E-Commerce and Shipa Delivery companies are leaders in cross-border e-commerce and delivery in the Gulf. Shipa Freight and iContainers, also owned by Agility, offer instant online air and ocean freight bookings and tools for small businesses to manage logistics.