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Arab News
24-05-2025
- Business
- Arab News
MENA tech startups close significant funding rounds
RIYADH: A series of significant funding rounds and strategic investments have bolstered the Middle East and North Africa tech and startup landscape recently, with a focus on expanding regional ecosystems and scaling innovative solutions. Among the notable developments, Aramco's Wa'ed Ventures co-led a $19 million series B extension investment in US-based Graphiant, alongside stc Group's Tali Ventures. This investment is part of a broader $102 million series B round that also includes Sequoia Capital, Two Bear Capital, and IAG Capital Partners. Founded in 2020 by Khalid Raza, Graphiant provides a Network-as-a-Service platform designed to deliver secure and high-performance enterprise connectivity across hybrid and multi-cloud environments. As part of the funding agreement, Graphiant will establish its regional headquarters in Riyadh to support Saudi Arabia's ambition to become a global technology hub. Anas Al-Gahtani, acting CEO of Wa'ed Ventures, said: 'By enabling enterprises to deploy secure, high-performance connectivity across multi-cloud and hybrid environments, Graphiant is solving foundational challenges for digital transformation.' VUZ secures $12m pre-series C to expand immersive media platform globally Saudi Arabia-based immersive media platform VUZ has raised $12 million in a pre-series C funding round, with the International Finance Corporation — part of the World Bank Group — joining as a strategic investor. The round also included participation from Al Jazira Capital, Crosswork VC Success Fund, existing investors, and several Saudi family offices, bringing VUZ's total funding to over $35 million. Founded in the UAE in 2017 by Khaled Zaatarah, VUZ offers immersive live content across extended reality, virtual reality, augmented reality, and AI-powered streaming. The new capital will support VUZ's global expansion across Saudi Arabia, the UAE, Africa, Asia, and the US, while enhancing its AI-driven streaming technologies and live spatial experiences. The company previously closed a $20 million series B round in October 2022. Saudi spacetech SARsatX raises $2.6m seed funding to scale satellite development Saudi Arabian spacetech startup SARsatX has raised $2.6 million in a seed round led by TONOMUS, with participation from Wa'ed Ventures, Access Bridge Ventures, and KAUST Innovation Ventures. Founded in 2019 by Ahmed Al-Zubairi and Muhannad Al-Mutiry as a spin-off from King Abdullah University of Science and Technology's TAQADAM Accelerator, SARsatX designs and builds small satellites equipped with synthetic aperture radar technology. The satellites provide Earth observation data used in applications such as deforestation monitoring, oil leakage detection, disaster management, and border security. The company intends to use the funds to accelerate technology development and scale satellite deployment. Saudi e-commerce app Ziadah closes seed round Ziadah, a Saudi Arabia-based e-commerce platform, has closed a seed funding round from an undisclosed angel investor. Founded in 2024 by Ali Al-Dahnin and Mahmoud Omar, Ziadah offers online stores behavior-driven marketing tools aimed at increasing sales. The company plans to use the investment to enhance customer engagement features and expand its services to more merchants across the region. Egypt's Thndr raises $15.7m to expand digital investment platform across MENA Thndr, a Cairo-based digital investment platform, announced a $15.7 million funding round led by Prosus, with participation from Y Combinator, BECO Capital, Endeavor Catalyst, and others. Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr enables users to invest in stocks, bonds, and funds through a mobile platform with low commissions. We're building a product, network, and monetization model that's hyper-local, with the infrastr- ucture to scale globally. Khaled Zaatarah, VUZ founder and CEO The new funds will support regional expansion focusing on the UAE and Saudi Arabia. Hammouda said: 'We believe the time is now to build the region's leading investment-first money app.' Sylndr secures $15.7m series A to accelerate Egypt used-car platform growth Cairo-based Sylndr, a used-car platform, has raised $15.7 million in a series A round led by DPI Venture Capital through the Nclude Fund. Other investors include Algebra Ventures, Nuwa Capital, and Raed Ventures. Sylndr facilitates vehicle buying, selling, and financing. Founded in 2021 by Omar El-Defrawy, the company will use the funds to expand across Egypt, improve pricing intelligence, inventory, fintech capabilities, and strengthen partnerships with dealers and lenders. El-Defrawy said: 'This round allows us to scale nationally and expand our product offering.' UAE's Tarjama secures $15m series A to scale Arabic AI ecosystem Tarjama, a UAE-based language technology company, has closed a $15 million series A funding round led by Global Ventures, with participation from Wamda Capital, TA Ventures, and Phaze Capital,as well as Golden Gate Ventures and Endeavor Catalyst. Founded in 2009 by Nour Al-Hassan, Tarjama serves over 700 clients globally with solutions across more than 50 languages and 22 Arabic dialects. The company recently launched Pronoia V2, an Arabic-first large language model that it claims outperforms GPT-4o and Cohere in Arabic tasks. Al-Hassan said: 'Arabic has been underserved by AI for too long. Our flagship product, Pronoia, changes that — it is far faster, more secure, and cost-effective.' Kuwait's Circle raises $6m series A for regional q-commerce expansion Circle, a Kuwait-based quick-commerce startup, has raised $6 million in series A funding from unnamed investors. Founded in 2020 by Altaf Al-Thekair, Circle offers delivery of groceries and daily essentials within 20 minutes through its app and network of dark stores and fulfillment centers. The company intends to use the funding to support regional expansion plans targeting key MENA markets by early 2026. CEO Al-Thekair stated: 'Securing this funding is a major milestone that propels us toward our vision of reshaping quick commerce in the MENA region.' EFG Finance approves acquisition of B2B platform Fatura by MaxAB-Wasoko EFG Finance, part of EFG Holding, has approved the acquisition of its B2B platform Fatura by MaxAB-Wasoko, a regional retail and supply chain super app. EFG becomes a major shareholder in MaxAB-Wasoko and gains a board seat. Fatura operates an asset-light marketplace with 626 wholesalers across 16 cities, expanding MaxAB's product and logistics capabilities. The acquisition is expected to contribute 25 percent of Egypt's revenue by year-end and accelerate MaxAB-Wasoko's pan-African expansion. Egyptian fintech ElGameya raises seven-figure round to expand savings app ElGameya, an Egyptian fintech, has raised a seven-figure US dollar investment round led by AYADY for Investment and Development, with participation from Jedar Capital, Cubit Ventures, and others. Founded in 2020 by Ahmed Abdeen, the company offers a mobile app enabling users to join customizable savings circles with secure transactions, The funding will be used to scale ElGameya's reach and develop new products targeting underserved communities. Abu Dhabi-based EQIQ doubles fund size to $30m EQIQ, a venture capital fund and venture builder focused on Iraq, is doubling its fund size from $15 million to $30 million to increase investments in the e-commerce, logistics, and fintech sectors. Founded by Mohamed Al-Hakim and Said Rahmani, EQIQ has deployed $8.5 million across five startups, including three co-built ventures. The fund is backed by local and regional investors and aims to create a technology ecosystem to serve millions in Iraq. Standard Chartered's SC Ventures partners with DIFC SC Ventures, the innovation and venture arm of Standard Chartered, has partnered with Dubai International Financial Centre Innovation Hub to launch the National Venture Studio in the city. The initiative utilizes SC Ventures' Venture Building-as-a-Service model to support startup development through ideation, prototyping, founder matching, and scaling. Participants will also have access to co-hosted events, research, and ecosystem-building programs within DIFC.
Wamda
20-05-2025
- Business
- Wamda
Saudi spacetech SARsatX raises $2.6 million Seed
Saudi Arabia-based spacetech SARsatX has raised $2.6 million in a Seed round, led by TONOMUS, with participation from Wa'ed Ventures (Aramco), Access Bridge Ventures, and KAUST Innovation Ventures. Founded in 2019 by Ahmed Alzubairi and Muhannad Almutiry as a spin-off from KAUST's TAQADAM Accelerator, SARsatX designs and builds small satellites with Synthetic Aperture Radar (SAR) capabilities to deliver Earth Observation data. Its applications include deforestation monitoring, oil leakage detection, disaster management, border security, urban development, and search and rescue. The new funding will accelerate SARsatX's technology development and help scale its satellite deployment. Press release: SARsatX, a Saudi-based space technology startup specialising in Synthetic Aperture Radar (SAR), has announced the successful closure of a $2.6 million seed funding round. The investment marks a key milestone for the Kingdom's emerging NewSpace sector and reinforces its growing presence in the global space economy. The round was led by TONOMUS, a digital subsidiary of NEOM, with participation from Wa'ed Ventures (the venture capital arm of Aramco), Access Bridge Ventures, and KAUST Innovation Ventures. SARsatX previously received backing from Flat6Labs, a leading early-stage venture capital firm in the MENA region. Founded as a spin-off from the TAQADAM Startup Accelerator and incubated by King Abdullah University of Science and Technology (KAUST), SARsatX is focused on designing and building small satellites equipped with SAR capabilities for Earth Observation (EO). The startup delivers near real-time satellite data within four hours, serving use cases across deforestation monitoring, oil leak detection, disaster response, urban development, and border security. SARsatX is supported by major regional entities, including the Saudi Space Commission and UAE Space Agency, and is currently part of the MiSK entrepreneurship programme powered by Plug and Play, where it receives mentorship from global industry experts. With this latest round of funding, SARsatX aims to enhance its technological edge, expand deployment of SAR-based EO solutions, and position Saudi Arabia as a key player in the commercial space sector.
Arabian Post
20-05-2025
- Business
- Arabian Post
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. See also ADNOC Expands Global LNG Reach with Dual Chinese Agreements 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.
Wamda
28-04-2025
- Business
- Wamda
Techrar secures $1.6 million investment from Wae'd Ventures
Techrar, the Saudi platform for managing subscriptions, memberships, and recurring billing, has closed an investment round worth $1.6 million, led by Aramco's VC arm (Wa'ed Ventures). Founded in 2022 by Safwan Saigh, Fawzan Alkhlawi, and Rania Shaker, the company specialises in managing subscriptions, memberships, and recurring bills. This investment will be directed towards supporting Techrar's ambitious plans in three main areas: team growth, product development, and acquiring new customers. Press release: Techrar, the largest Saudi platform for managing subscriptions, memberships, and recurring billing, has announced securing a $1.6 million investment round led by Aramco's VC arm (Wa'ed Ventures). This move aligns with Techrar's vision to enhance sustainable growth by providing businesses with smart, scalable solutions that improve operations, maximise recurring revenues, and enhance customer experiences. The investment will be directed toward supporting Techrar's ambitious plans in three key areas: Team Growth: Attracting unique talent and developing capabilities to ensure continuous high-level service delivery and the adoption of the latest technologies. Product Development: Investing in innovation, automation, and artificial intelligence, enhancing systems and technologies, and supporting partnerships with major systems in complementary sectors to provide an integrated subscription experience. Expansion and Customer Acquisition: Strengthening marketing and sales strategies, entering new markets, and expanding the customer base amidst the rapid growth of e-commerce. Commenting on the development, Techrar's founders stated, 'The world of commerce has undergone a profound transformation. It's no longer just about selling products; it's about providing an exceptional experience from the moment the customer places an order to the completion of the associated services. This philosophy is part of our strategy to build a unified infrastructure that makes subscription management easy for any company, regardless of its size.' Techrar extends its heartfelt thanks to its creative team, investors, customers, partners, and everyone who has contributed to its success, including family, friends, and government entities, whose constant support has been a source of inspiration. In conclusion, the statement read: 'We thank God for the achievements we've accomplished. With His grace and blessings, we've overcome many challenges and seized opportunities. With these great privileges come greater responsibilities, and we are committed to building the largest subscription management platform based in Saudi Arabia.'
Zawya
24-04-2025
- Business
- Zawya
TruBuild raises $1mln seed round to de-risk construction projects and prevent cost overruns
Waʼed Ventures and Dar Ventures participated in the round. The funding will accelerate TruBuildʼs expansion across Saudi Arabia and into global markets. Riyadh, Saudi Arabia: TruBuild, the AI-powered construction technology startup focused on preventing delays and unexpected costs in project delivery, has successfully closed a $1 million seed round. The round included participation from Waʼed Ventures, the $500 million venture capital arm of Saudi Aramco, Dar Ventures, the venture arm of Dar, as well as Plug & Play Ventures, OQAL, Taz Investment, and strategic angel investors including Simon Moon, former CEO of Atkins Middle East. TruBuild received an early investment from Antler MENAP as part of the cohort in Riyadh 2023. 'We fully believe in TruBuildʼs mission to eliminate costly project changes and variations, in line with our mission to invest in impactful businesses in the construction sector.ˮ Anas Algahtani said, Wa'ed Ventures. 'TruBuild is combining the best of British construction expertise with cutting edge Saudi AI R&D to support therealisation of the Saudi Vision 2030 and beyondˮ Matt Jones said, Saudi British Joint Business Council. Addressing One of Constructionʼs Most Expensive Challenges Every year, project changes and cost overruns lead to more than $1.6 trillion in unplanned expenses worldwide, equivalent to 15% of total project costs. TruBuildʼs AI platform works quietly in the background, analysing project data to spot risks early and provide real-time insights. It integrates directly with tools teams already use, helping project owners, consultants and contractors stay aligned, make decisions faster, and reduce back-and-forth. 'Weʼre not here to disrupt for the sake of it,ˮ said Bisrat Degefa, CEO of TruBuild. 'Weʼre here to make everyday decisions easier through objective data, and to help project teams avoid the kinds of issues theyʼve faced for years.ˮ 'With the backing of thoughtful investors and strategic partners, weʼre focused on solving real pain points for teams in the field and weʼre proud to contribute to a more predictable and transparent construction process, creating the next paradigm shift in construction technology.ˮ TruBuild is working with major organisations in Saudi Arabia, including Osool Real Estate approach is an integral part of digital strategy, allowing Osool to procure and develop projects more efficiently. Next Steps for TruBuild The seed funding will be used to enhance TruBuildʼs AI platform, grow its engineering and commercial teams, and scale its impact across Saudi Arabia and abroad. About TruBuild TruBuildʼs mission and founding team have the potential to disrupt the construction industry and redefine the status quo TruBuild is a construction technology company using artificial intelligence to reduce inefficiencies, improve collaboration, and prevent project variations. The platform helps teams: ✔ Speed up tender evaluations, contract awards, and change management by up to 80% ✔ Minimise unexpected changes and scope creep ✔ Deliver projects with greater accuracy, fewer delays, and improved cost control TruBuild is founded by professionals with decades of hands-on experience in construction and technology: Bisrat Degefa , CEO Former Global Director of Atkins and Gleeds, with more than 15 years of experience leading delivery on complex, multi-billion-dollar projects totaling over $34 billion. brings over 15 years of experience in the construction industry, having held leadership roles across major regions, including the UK, US, LATAM, and MENA. He has been integral to the delivery of multi-billion dollar projects worldwide. As CEO and Co-Founder of TruBuild, Bisrat leverages his deep industry experience to accelerate project delivery by empowering teams with AI-driven automation for project planning and execution. Prior to TruBuild, Bisrat served as Global Director at AtkinsRealis, a global engineering consultancy, and as Director Head of Construction Digital Solutions at Gleeds, where he honed his expertise in digital transformation within the construction sector. Dr. Sari Sabban, CTO A two-time Fulbright Scholar, AI developer, and patent holder with almost two decades of experience in ML development and R&D. Dr. Sari Sabban is the Co-founder & CTO of TruBuild, bringing 15 years of research experience to the role. He received two Fulbright scholarships to Duke University for AI research. As a former assistant professor, he specialized in machine learning, computational structural biology, and biomolecular simulations. His achievements include a patent for a computationally designed anti-allergy vaccine, delivering a TEDx talk on AI in biology. At TruBuild, he oversees the company's technological and scientific advancements, applying his expertise in AI and computational methodologies to transform the construction industry For media enquiries, partnerships, or investment opportunities : hello@
