The Tourism Development Fund (TDF) in Saudi Arabia celebrated the first cohort of the "TDF Grow Accelerator" program, highlighting the achievements of 15 startups in the tourism sector at a demo day held in Riyadh. The graduates included 11 local startups and 4 regional and international projects, all of which completed over 20 training and […]
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Mithu secures $500,000 pre-Seed from Adaverse
Funding and Purpose: Saudi Arabia-based loyalty platform aggregator Mithu has successfully raised a $500,000 pre-seed funding round from Adaverse to develop a gamified app that consolidates various loyalty programs for customers in the food and beverage industry. Market Potential: With only 2.5% of restaurants in Saudi Arabia currently providing loyalty programs, Mithu aims to tap […]
Saudi foodtech Yalla Plus closes $2.7 million Seed round
Funding Acquisition: Yalla Plus, a foodtech startup based in Saudi Arabia, secured $2.7 million in a Seed investment round led by Merak Capital, with involvement from Khwarizmi Ventures, Isometry Capital, and various angel investors. Service Offering: Founded in 2022 by Abdullah Alrabeh and Bader Alnasser, Yalla Plus provides a comprehensive integrated POS system that encompasses […]
Resal garners $9 million investment to accelerate growth within the Kingdom
Funding Achievement: Saudi Arabia-based e-gifting platform Resal has successfully closed a $9 million Series A funding round, supported by various investment entities including Derayah Ventures Fund and multiple angel investors. Business Expansion Goals: Resal plans to utilize the investment to accelerate business growth in Saudi Arabia by targeting new sectors, launching technological products for alternative […]
Asas closes $320,000 pre-Seed to propel Resquad AI platform development
Asas Specialised Information Technology, based in Saudi Arabia, has successfully raised $320,000 in pre-seed funding for its flagship product, Resquad AI, led by prominent angel investors. Resquad AI, launched in 2024 by CEO Abdullah Abdulaziz Al-Jafaari, offers a platform for software development companies to flexibly share developers with each other and external clients, addressing the […]
Saudi Arabia’s Athir raises new investment round
Athir, a Saudi Arabia-based healthtech company, has successfully raised its first investment funding round, with backing from Wa’ed Ventures, SHARE Investment Co., and RZM Investment, although the amount raised remains undisclosed. Established in 2017 by Jawad Chaudhry, Ahmad AlJehani, and Abdoulmohsen Alyoubi, Athir focuses on digital transformation in healthcare, offering a comprehensive system that includes […]
TWLM secures $270,000 investment to strengthen position in Saudi Arabia
TWLM, a Saudi Arabia-based food pick-up app, has raised $270,000 in investment, primarily from B Group and other angel investors. Founded in 2023 by Ahmed Al-Dakhil, Abdulaziz Al-Rashoud, Abdullah Al-Dakhil, and Walid Al-Qarni, TWLM offers pick-up services from various restaurants and stores. The investment will help TWLM expand its operations, aiming to increase its network […]
Saudi Arabia’s Blend closes $1.3 million pre-Seed round
Blend, a Saudi Arabia-based SaaS provider founded in 2023 by Omar bin Sultan Al-Lihyan, has raised SAR 5 million (approximately $1.3 million) in a pre-Seed investment round from undisclosed angel investors to develop tech solutions for the restaurant and food service sectors. The platform integrates multiple food delivery services into a single interface, allowing restaurant […]
Saudi deeptech Intelmatix scores $20 million Series A
Intelmatix, a Saudi Arabia-based deeptech AI company founded by MIT graduates, has successfully secured $20 million in a Series A funding round led by Shorooq Partners, with participation from various investors including Saudi Venture Capital Company (SVC) and Saudi Technology Ventures (STV). The company’s flagship product, the Enterprise Decision Intelligence Platform (EDIX), aims to make […]