Saudi Arabia-based foodtech startup Nabt has secured $1.5 million in a Seed funding round led by Merak Capital ..Read More

Saudi Arabia-based foodtech startup Nabt has secured $1.5 million in a Seed funding round led by Merak Capital, along with contributions from other angel investors. Founded in 2022 by Abdullah Alotaibi, Nabt operates a B2B marketplace that links farmers directly with businesses. This capital will help Nabt advance product development and broaden its market presence. Nabt is also part of the Sunbolah FoodTech Accelerator, a program by the Ministry of Environment, Water, and Agriculture aimed at nurturing innovative companies in the agricultural sector.
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• Foodtech

Saudi Arabia-based Web3 provider, Tharawat Green Exchange (TGE) raised $0.45M in pre-Seed funding from Adavers ..Read More

Saudi Arabia-based Web3 provider, Tharawat Green Exchange (TGE) raised $0.45M in pre-Seed funding from Adaverse, a Saudi-focused Web3 and blockchain fund. The capital will be allocated towards enhancing TGE’s infrastructure and blockchain capabilities, bolstering sales and marketing initiatives, and obtaining Vera certification for its carbon credits, aligning with its mission to drive environmental sustainability under Saudi Vision 2030.
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• Sustainability

Mobility startup invygo, based in Saudi Arabia, has secured an $8 million Series A extension led by STV's NICE ..Read More

Mobility startup invygo, based in Saudi Arabia, has secured an $8 million Series A extension led by STV's NICE Fund, with participation from investors such as Al Rajhi Partners and Arab Bank Ventures. Founded in 2019 by Eslam Hussein and Pulkit Ganjoo, invygo operates in Saudi Arabia, UAE, and Qatar, offering an app-based service for choosing, driving, and swapping cars. With over $22 million in total funding, the company is on course to achieve profitability by the end of FY 2024.
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• Transport

Saudi Arabia-based fintech, Mala has raised $7 million in a pre-Seed round led by VentureSouq and Shorooq Part ..Read More

Saudi Arabia-based fintech, Mala has raised $7 million in a pre-Seed round led by VentureSouq and Shorooq Partners, with participation from M Capital, BECO Capital, and Silicon Valley’s D Global Ventures. Founded by Musaab Hakami in 2024, Mala offers SMEs a B2B procure-now-pay-later (PNPL) platform that provides flexible credit terms while ensuring immediate payments to suppliers. This funding will support Mala’s official launch in Saudi Arabia in Q4 2024.
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• Fintech

Saudi Venture Capital (SVC) has invested $15 million in Vision Ventures' Saqr Fund II, a venture capital fund ..Read More

Saudi Venture Capital (SVC) has invested $15 million in Vision Ventures' Saqr Fund II, a venture capital fund targeting $90 million to back early-stage firms from pre-Seed to pre-Series B across Saudi Arabia and the MENA region. Founded in 2016 by Haitham BuAisha and Kais Al-Essa, Vision Ventures is a sector-agnostic VC firm focused on early-stage tech startups in the region.
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• Venture Capital

JARAS Hospitality has raised $0.67M in pre-Seed funding to fuel its growth in the hospitality management secto ..Read More

JARAS Hospitality has raised $0.67M in pre-Seed funding to fuel its growth in the hospitality management sector. The funds will be utilized to enhance its integrated platform for hotel bookings, unit management, and pricing optimization, ensuring alignment with market needs. This investment also aims to support ARAS in expanding its customer base and accelerating its growth trajectory.
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• Hospitality

Saudi Arabia's mobility startup SHIFT has raised $82.8 million in funding from Merak Capital. This investment ..Read More

Saudi Arabia's mobility startup SHIFT has raised $82.8 million in funding from Merak Capital. This investment aims to accelerate SHIFT's growth and enhance its innovative intelligent solutions, positioning the company to further develop its tech-focused mobility services across the Kingdom.
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• Transport

Saudi Arabia-based proptech HissaTech has secured funding in a pre-Seed round led by unnamed angel investors. ..Read More

Saudi Arabia-based proptech HissaTech has secured funding in a pre-Seed round led by unnamed angel investors. Founded in 2024, HissaTech offers a platform that enables individuals to co-own properties, providing rental income and potential capital gains while reducing barriers for smaller investors. The investment will be used to expand its customer base, enhance its digital platform, and build strategic partnerships within the proptech sector.
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• Proptech