Latest news with #Impact46
Bloomberg
6 days ago
- Business
- Bloomberg
Aramco's VC Arm Backs Record AI Funding Round for Saudi Startup
Saudi Aramco's venture capital arm, Wa'ed Ventures, has backed a $30 million Series B funding round for local artificial intelligence startup Lucidya, marking the largest such raise by an artificial intelligence company in the kingdom. Wa'ed Ventures participated in the round alongside lead investor Impact46. Takamol Ventures, SparkLabs and returning backers Rua Growth Fund and ARG also joined, according to a statement from Lucidya. Individual investment amounts were not disclosed.
Zawya
7 days ago
- Business
- Zawya
Aramco's Wa'ed, VC firms invest $30mln in Saudi's Lucidya
Saudi Arabian artificial intelligence (AI) start-up Lucidya has secured $30 million from investors, including Aramco's investment arm, as the company looks to scale its platform. The Series B funding, the largest raised for an AI venture in the region, was led by Impact46 and participated by institutional investors Wa'ed Ventures and government-backed Takamol Ventures, as well as global venture capital firm SparkLabs, and existing investors Rua Growth Fund and ARG. Lucidya, which develops an AI-powered customer experience management (CXM) platform, intends to use the fresh capital to expand its AI agent offering, as well as automate and personalise customer engagement. The start-up operates in 11 countries and caters to BFSI, hospitality, healthcare and public sector clients with a combined market cap of more than $250 billion. (Writing by Cleofe Maceda; editing by Seban Scaria)
Yahoo
15-07-2025
- Business
- Yahoo
AI-powered CXM platform Lucidya raises $30m
Lucidya, a software as a service (SaaS) provider specialising in AI-driven customer experience management (CXM), has completed a $30m Series B funding round. According to the company, this is the largest AI investment in the Middle East and North Africa (MENA) region to date. The funding round was led by Saudi venture capital firm Impact46. Aramco's investment arm Wa'ed Ventures, Takamol Ventures, and SparkLabs joined as new investors, while previous backers Rua Growth Fund and ARG also participated. Lucidya was established in 2016 and has been supported by venture capital since 2019. It currently operates in 11 countries, serving industries such as telecommunications, BFSI, hospitality, healthcare, and the public sector. The platform's core feature is an Arabic-language AI engine boasting more than 92% accuracy, providing insights and automating customer interactions. Lucidya aims to capture a portion of the MENA CRM/CX software market, which is projected to reach $9bn by 2030. Lucidya founder and CEO Abdullah Asiri said: 'We bet on AI back in 2016, long before it became a boardroom buzzword. That early conviction is now paying off as we become the trusted, regional AI partner for CX. 'We chose Impact46 to lead this round because they are one of the most proven VCs, with two IPOs in their portfolio. They are the perfect partner to scale Lucidya to a global AI force.' The company plans to use the new investment to expand its AI Agent offering, focusing on automating and personalising customer interactions in support, marketing, sales, and CX, while ensuring compliance with regulations such as PDPL. Impact46 partner Basmah Alsinaidi commented, 'Lucidya is exactly the kind of company we look to back—founders solving real regional challenges with defensible tech and bold ambition. Their mastery of Arabic-first AI and traction with top-tier enterprises mark them as a future category leader.' "AI-powered CXM platform Lucidya raises $30m" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Web Release
15-07-2025
- Business
- Web Release
Lucidya Raises USD30 Million in Largest AI Funding Round in MENA
Lucidya, MENA's leading AI-Powered customer experience management (CXM) platform, has announced the close of its USD30 million Series B round—the largest AI investment ever raised in the region. The round was led by Impact46, the Saudi VC behind IPOs Jahez and Rasan. New participants included Aramco's investment arm Wa'ed Ventures, government-backed, digital-innovation catalyst Takamol Ventures, and SparkLabs. Existing investors Rua Growth Fund and ARG also returned, doubling down on their long-term conviction in Lucidya's trajectory. Congratulations were delivered by H.E. Eng. Abdullah Alswaha, Minister of Communications and Information Technology, during his visit to Lucidya's Riyadh headquarters. Founded in 2016 and backed by VCs since 2019, Lucidya is one of MENA's AI pioneers. Operating in 11 countries, it serves telecom, BFSI, hospitality, healthcare, and public sector clients with a combined market cap over USD250 billion—enhancing experiences for their +75 million customers and citizens across the region. Abdullah Asiri, Lucidya's CEO and Founder, commented on the round explaining, 'We bet on AI back in 2016, long before it became a boardroom buzzword. That early conviction is now paying off as we become the trusted, regional AI partner for CX.' At the core of Lucidya's platform is a proprietary Arabic-language AI engine with +92% accuracy—an industry benchmark that powers deep insights, intelligent engagement, and automation across customer touchpoints where others fall short. Lucidya is targeting MENA's rapidly growing CRM/CX software market, projected to reach USD9 billion by 2030. Commenting on the milestone, Asiri shared, 'We chose Impact46 to lead this round because they are one of the most proven VCs, with two IPOs in their portfolio. They are the perfect partner to scale Lucidya to a global AI force.' 'Lucidya is exactly the kind of company we look to back—founders solving real regional challenges with defensible tech and bold ambition,' said Impact46 Partner, Basmah Alsinaidi. 'Their mastery of Arabic-first AI and traction with top-tier enterprises mark them as a future category leader.' With this investment, Lucidya will scale its AI Agent offering, positioning itself as a digital workforce platform for customer-facing roles; automating and personalizing engagement across support, marketing, sales, and CX while cutting costs and ensuring compliance like PDPL. Asiri highlighted the expansion's impact, 'By expanding into AI Agents, we're tapping into the region's labor economy, turning workforce costs into scalable, compliant AI capacity.' Contacts: For press inquiries please contact: [email protected]
Yahoo
15-07-2025
- Business
- Yahoo
AI-powered CXM platform Lucidya raises $30m
Lucidya, a software as a service (SaaS) provider specialising in AI-driven customer experience management (CXM), has completed a $30m Series B funding round. According to the company, this is the largest AI investment in the Middle East and North Africa (MENA) region to date. The funding round was led by Saudi venture capital firm Impact46. Aramco's investment arm Wa'ed Ventures, Takamol Ventures, and SparkLabs joined as new investors, while previous backers Rua Growth Fund and ARG also participated. Lucidya was established in 2016 and has been supported by venture capital since 2019. It currently operates in 11 countries, serving industries such as telecommunications, BFSI, hospitality, healthcare, and the public sector. The platform's core feature is an Arabic-language AI engine boasting more than 92% accuracy, providing insights and automating customer interactions. Lucidya aims to capture a portion of the MENA CRM/CX software market, which is projected to reach $9bn by 2030. Lucidya founder and CEO Abdullah Asiri said: 'We bet on AI back in 2016, long before it became a boardroom buzzword. That early conviction is now paying off as we become the trusted, regional AI partner for CX. 'We chose Impact46 to lead this round because they are one of the most proven VCs, with two IPOs in their portfolio. They are the perfect partner to scale Lucidya to a global AI force.' The company plans to use the new investment to expand its AI Agent offering, focusing on automating and personalising customer interactions in support, marketing, sales, and CX, while ensuring compliance with regulations such as PDPL. Impact46 partner Basmah Alsinaidi commented, 'Lucidya is exactly the kind of company we look to back—founders solving real regional challenges with defensible tech and bold ambition. Their mastery of Arabic-first AI and traction with top-tier enterprises mark them as a future category leader.' "AI-powered CXM platform Lucidya raises $30m" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
