Saudi Venture Arms Back Graphiant to Bolster Digital Infrastructure
Saudi Telecom Company's Tali Ventures and Aramco's Wa'ed Ventures have jointly led a $19 million investment in Graphiant, a US-based network connectivity start-up, as part of a broader $102 million Series B funding round. The move underscores the Kingdom's strategic push to enhance its digital infrastructure and diversify its economy in line with Vision 2030.
Graphiant, headquartered in California, specialises in providing a unified network solution that integrates AI, cloud, SaaS, B2B, and branch networking services. The company's technology is designed to serve public sector entities, telecommunications providers, and enterprises seeking secure and scalable connectivity.
As part of its expansion strategy, Graphiant has announced the establishment of its regional headquarters in Riyadh. The company plans to collaborate with stc Group on initiatives related to localisation, skill development, and the deployment of new infrastructure projects. This partnership aims to foster the growth of local talent and support the Kingdom's ambitions to become a regional technology hub.
Wa'ed Ventures, the venture capital arm of Aramco, has been actively investing in technology start-ups that align with Saudi Arabia's digital transformation goals. With a $500 million fund, Wa'ed Ventures focuses on supporting companies that can contribute to the Kingdom's technological advancement. The investment in Graphiant is part of this broader strategy to bring innovative solutions to the Saudi market.
Similarly, Tali Ventures, the investment arm of stc Group, has been instrumental in backing ventures that enhance the digital economy. By investing in Graphiant, Tali Ventures aims to leverage the company's technology to improve network connectivity and support the development of advanced digital services in the region.
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The collaboration between these venture arms and Graphiant reflects a concerted effort to integrate cutting-edge technologies into Saudi Arabia's infrastructure. By fostering partnerships with global innovators, the Kingdom seeks to accelerate its transition towards a knowledge-based economy and solidify its position as a leader in the digital domain.
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