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Saudi Arabia 🇸🇦

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STV&#8217;s NICE Fund I offers $100 million to tech startups without taking equity. 
Backed by SAB Invest, NTDP, and others, the fund uses a Sharia-compliant finance model. 
Companies repay based on revenue milestones, aligning with Islamic finance principles. 
The Saudi government aims to boost innovation through strategic public-private partnerships. 
The fund targets high-potential sectors like fintech and logistics until late 2025.

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Seed round led by Waad Investment, with participation from 500 Sanabil, Omantel, OQAL, and SEED Holding.
Nqoodlet offers smart expense cards, automated finance tools, and a service hub for SMEs.
Over 600 small and medium-sized businesses in the region currently use the platform.
New funding will support infrastructure expansion and the launch of open banking and tax automation tools.

BNY Mellon obtained a regional headquarters licence to expand operations in Saudi Arabia. 
The new RHQ in Riyadh will centralise strategic guidance and administrative coordination. 
Saudi Arabia&#8217;s Vision 2030 aligns with BNY Mellon&#8217;s growth and regional partnership aspirations. 
International companies, including Goldman Sachs, are attracted by incentives and mandatory headquarters rules. 
Riyadh is emerging as a major financial hub, drawing significant global investment interest.

Saudi-based startup Tooba secured $8 million in pre-seed funding, led by Alwaalan Company. 
The funds will develop an AI-based healthcare platform streamlining employer-based services. 
Tooba aims to enhance efficiency, reduce costs, and improve patient and provider experiences. 
Founded by Faiz Al Anzi, Tooba seeks to make healthcare accessible and affordable for employers. 
Tooba&#8217;s innovative approach could impact healthcare delivery across the region in future years.

MedIQ has secured $6 million in Series-A funding, attracting Gulf region interest. 
The Pakistani startup connects patients, insurers, and healthcare providers efficiently using AI technology. 
With roughly 10 million users, MedIQ aims to expand in Saudi Arabia and other Gulf nations. 
Healthcare platforms like MedIQ are booming, driven by rising demand for digital solutions. 
Previous seed round successes highlight investor confidence in MedIQ&#8217;s growth potential.

Nice One Beauty reported a solid 10,2% jump in net profits for Q1 2025. 
Profits surged 311% quarter-on-quarter due to stronger revenues and reduced sales expenses. 
Sales increased by around 30% thanks to effective marketing and a broader product range. 
Revenues edged up by 5,8%, bolstered by more orders and new customer acquisition. 
Operational cost rises pose challenges alongside profit growth following business expansions.

Saudi start-up Erad secured $16 million in a pre-Series A funding round. 
Investors include Y Combinator, Nuwa Capital, and Khwarizmi Ventures, showing strong interest. 
Erad offers swift alternative financing solutions for SMEs, promising quick approvals within 48 hours. 
The company plans to expand regionally with its new funding boost. 
Participation in Y Combinator’s accelerator highlights Erad&#8217;s innovative approach to SME financing.

Meran and Welnes merge to create a unique health and sports app for Saudis. 
Meran will bring AI-driven meal plans, while Welnes contributes community-focused fitness connections. 
The partnership aligns with Vision 2030 and aims to address diverse health needs in Saudi Arabia. 
Key Saudi investor from Droob Ventures facilitated the merger, with headquarters in Riyadh. 
The combined firm aims to improve Saudi quality of life through accessible, interactive health solutions.

iMENA Group has raised $135 million, moving closer to its goal of going public. 
The company restructured into iMENA Holding, a closed joint-stock Saudi company. 
Investment will enhance flagship businesses like OpenSooq, SellAnyCar, and Jeeny. 
iMENA aims for an IPO on the Saudi Tadawul, strengthening its Middle East presence. 
A new board of directors will guide the next growth phase amid market challenges.

Techrar, a Saudi startup, raised $1,6 million led by Wa&#8217;ed Ventures. 
Founded in 2022, Techrar provides a platform for managing billing and subscriptions seamlessly. 
Funding will enhance product development, team growth, and market expansion. 
Industry confidence in Techrar is evident with significant investment support. 
Transforming funding into growth will be crucial as Techrar scales strategically.

TDF signed a financing agreement with Dar Al Arkan and Smart Destination.
The project is a luxury mountain resort in Abha’s Al Soudah area.
It will include a hotel, serviced apartments, restaurants, and retail outlets.
The development aligns with the “Saudi Summer” and “Spirit of Saudi” campaigns.
TDF aims to attract private investment to Asir’s tourism sector.

Rapid delivery services like q-commerce are gaining traction beyond a mere novelty. 
Egyptian startup, Rabbit, secures investment to expand its 20-minute delivery service into Saudi Arabia. 
The funding will support Rabbit’s entry into Riyadh and Jeddah with strategic micro-fulfilment centres. 
CEO Yousry highlights Saudi Arabia&#8217;s appetite for quick, reliable delivery as driving their expansion. 
This move aligns with a regional trend of Egyptian startups pursuing growth throughout MENA.

Uniqus Consultech has raised USD 20 million in Series C funding led by Nexus Venture Partners. 
The funds will accelerate the company&#8217;s growth and expansion into the Middle East, introducing new services. 
Uniqus plans to develop AI-driven consulting solutions, leveraging GenAI models to enhance client outcomes. 
The investment highlights the Middle East&#8217;s growing focus on technological innovation and digital transformation. 
Technology and AI are crucial for firms in the region to remain competitive in a dynamic business environment.

The fintech sector secured over $1 billion in funding during Q1 2025 in the MENA region.
Total startup investments reached $1,5 billion, according to a report by Wamda.
Sectors like insurtech and e-commerce attracted less funding, while interest in SaaS declined for the second consecutive month.
Investors are favoring practical tech solutions that directly impact consumers’ daily lives.
The data indicates a clear shift in investment trends, with increased competition expected in fintech and proptech sectors.

ViAct secured $7,3 million in Series A funding led by Venturewave Capital. 
Funding will enhance AI models for predicting risks in high-safety sectors like construction. 
Expansion plans include entering Saudi Arabia&#8217;s growing tech-savvy construction market. 
Additional recruitment in AI, engineering, and sustainability will support this growth. 
The investment will upgrade technology for better workplace safety and sustainability initiatives.

Kilow, a Saudi health tech startup, has launched an Arabic-language app for weight loss. 
Founded by Fahed Al Essa, the app focuses on health tracking, coaching, and medical support. 
Kilow&#8217;s platform is tailored to Saudi cultural habits, offering practical and sensible solutions. 
The service includes initial free medical consultations and personalised monthly plans. 
Future plans include AI-driven features and regional expansion beyond Saudi Arabia.

BKN301 secured $23,8 million to accelerate global expansion, especially into the UAE and Saudi Arabia. 
Investors like CDP Venture Capital SGR and Azimut Libera Impresa SGR participated in the funding. 
CEO Stefano Mucchioli sees this as investor confidence in their scalable business model. 
The fintech aims for a 36% CAGR in EBITDA by 2028, focusing on digital payment solutions. 
BKN301&#8217;s &#8220;BaaS Orchestrator&#8221; offers services like payment processing and AI-driven open banking.

Sadeq, specialising in digital signatures, raised 5,5 million Saudi Riyals. 
The funding was led by Fund X by Unifonic, with strategic investment from Unifonic. 
Co-founder Salem Al-Badawi noted it will enhance their technical infrastructure and scale the platform. 
Sadeq is set to incorporate advanced technologies, ensuring it remains ahead in digital authentication. 
The investment indicates confidence in Sadeq’s vision and the attractiveness of digital solutions in Saudi Arabia.

Dr Khulood Almani is transforming Saudi Arabia&#8217;s tech landscape with AI innovation and sustainability. 
As CEO of HKB Tech, she&#8217;s advancing digital transformation and supporting tech startups. 
HKB Tech&#8217;s Saudi AI Centre of Excellence promotes cutting-edge research with partners like Google and NVIDIA. 
Dr Almani advocates for ethical AI standards, privacy, and transparent governance in the tech sector. 
Saudi Arabia is investing $100 billion in AI, boosting the economy and creating new job opportunities.

NEOM Investment Fund is investing in Liberation Labs, a US biotech firm. 
Liberation Labs specialises in precision fermentation to produce alternative proteins without animals. 
The investment supports NEOM&#8217;s aim to be a hub for large-scale specialist food production. 
This aligns with Vision 2030, as Saudi Arabia diversifies beyond oil. 
NEOM’s moves could position it as a global leader in sustainable food innovation.