Logexa, a logistics platform, raised $2 million with backing from Nour Nouf Ventures and angel investors. The company will optimise warehousing and transport infrastructure in Saudi Arabia. The funding will help expand operations and launch a shared logistics market.
Saudi Arabia has seen a notable increase in its activity in AI, logistics, fintech, and HR tech, driven by a rise in venture deals, strategic partnerships, and funding. This wave of investments will help them move beyond oil by focusing on technology and innovation.
Jahez, Saudi Arabia’s food delivery giant, has partnered with e-commerce platform Noon, aiming to increase delivery speed and convenience. Both companies will benefit as it will attract more users, encourage repeat business, and increase loyalty, ultimately making it the region’s largest digital commerce platform.
Generative AI startup rmz.ai got $100,000 in pre-seed funding. It will help content creators utilize AI tools to manage audio, images, and video through a single interface. The investment will help develop AI assistants to streamline content creation and improve quality.
Logexa, a logistics platform, raised $2 million with backing from Nour Nouf Ventures and angel investors. The company will optimise warehousing and transport infrastructure in Saudi Arabia. The funding will help expand operations and launch a shared logistics market.
The Public Investment Fund (PIF) and Aramco signed a non-binding agreement to combine AI assets under Humain, a PIF-owned entity. The partnership will be moving AI-related assets, skilled employees, and expertise from Aramco to Humain. This transfer will help Humain expand internationally.
Humain is focusing on building end-to-end AI infrastructure, from building data centers and cloud infrastructure to advanced models, such as Arabic-language ALLAM, and AI solutions.
Fintech company Tabby completed secondary share sales. This deal is attracting notable investors like HSG and Boyu Capital, resulting in the company being valued at $4.5 billion.
BRKZ, yet another startup in the Construction technology industry in Saudi Arabia, has received up to $30 million in funding to help the company expand. It offers a platform for contractors and factories to source building materials. The funds will help to develop cloud-based manufacturing models and build a global network of suppliers.
Insurtech firm Najeeb.ai, an insurance technology startup, raised pre-seed investment from angel investors. The company uses AI to make insurance services more transparent and efficient. The funding will help the company develop AI-powered insurance products and strengthen its relationships with insurers and healthcare providers.
HR tech platform Squadio secured $3 million. The Saudi Arabia-based company connects companies with global, remote-first tech talent. The new investment will enhance its AI-powered system and expand its operations across the MENA region, Africa, and Silicon Valley.
MidLyr, a US-based financial technology startup, raised $2.5 million in pre-seed funding. The company helps banks simplify complex regulatory documents, making it easier for them to manage risk, ensure compliance, and conduct marketing activities. The funds will be used to develop the product and scale hiring in both the US and the Middle East.
HALA Capital has expanded from venture capital to include private equity and credit. The company’s goal is to drive innovation, scale enterprises, make a long-term impact in Saudi Arabia, and build a strong investment ecosystem.
Velents.ai, an HR technology startup, raised $1.5 million from angel investors, including former Google and BCG executives. The company launched Agent.sa, the first fully Arabic-speaking AI, which will be useful for companies in the Middle East.
KarmSolar, an Egyptian renewable energy company, has expanded internationally by launching KarmCyprus. They were building a megawatt solar PV plant in southern Cyprus, using €5 million in funds they got from Eurobank. For the project, the company uses an integrated approach to clean energy, from power generation, distribution, storage, and electric mobility. through the project, they want to position themselves as a key player in the Mediterranean region’s renewable energy sector.
