Wa’ed Ventures is the venture capital arm of Saudi Aramco Entrepreneurship Center (Wa’ed), established by Saudi Aramco with the vision of igniting the spirit of entrepreneurship in the Kingdom of Saudi Arabia. Wa’ed has deployed a suite of programs over the years to assist entrepreneurs in establishing, enhancing, or expanding their ventures. These programs comprise development and financial support including business incubation, coaching and training to guide and nurture entrepreneurs along different business stages, seed funding, non-collateral loans, venture capital (equity/debt) investment, and business development. These programs support the development of small- and medium-sized enterprises (SMEs) capable of localizing industries and diversifying the Kingdom’s economy. Wa’ed also collaborates and engages with key players in order to create an effective entrepreneurship ecosystem. Wa’ed aspires to provide leadership in promoting entrepreneurship to support economic growth, diversification, and social development in Saudi Arabia, in alignment with the Kingdom’s strategic thrust into moving towards a knowledge-based economy. The organization aims to turn innovative ideas into successful projects, create and support sustainable SMEs, and develop entrepreneurs into successful business owners. Wa’ed Ventures aims to fuel the growth of high potential companies, thereby promoting economic development in Saudi Arabia with job creation for Saudi nationals, technological improvement, knowledge transfer, economic diversification, and economic growth within the Kingdom. The firm focuses on seed, early, and growth-stage businesses across a diverse range of sectors including information and communication technology (ICT), energy, manufacturing, healthcare, and services – from mobile application platforms and technologies to industrial equipment manufacturing to advanced software solutions.
Ori Industries 1 Limited, founded in 2018 and based in London, United Kingdom, develops a multi-access edge-computing platform that enables developers to deploy applications and services across various mobile operators. The company focuses on creating an AI infrastructure that allows teams to efficiently access and utilize resources necessary for training and scaling AI models. By combining powerful GPU computing with a flexible software layer, Ori Industries facilitates seamless exploration, development, and scaling of AI innovations. The company's mission is to transform the integration of software and hardware, thereby advancing the potential of artificial intelligence technology.
Terra Drone
Series C in 2023
Terra Drone is a drone and software manufacturer, based in Tokyo. By using drone, Terra Drone also delivers civil engineering surveying services for construction companies and analyzes data. With a wide range of usecase of drone, Terra Drone also helps companies to carry out inspection of complex job sites, such as those in construction, oil and gas extraction, agriculture.
PASQAL
Series B in 2023
PASQAL is developing a full-stack quantum computer that will be used to simulate complex phenomena for scientific discovery and to address general problems such as optimization, drug discovery, and machine learning. The company's quantum processing units are made up of hundreds of atomic qubits in 2D and 3D arrays, and their programming environment, to address our customers' needs in quantum computing and simulation.
Manafa
Series A in 2022
MANAFA is an online marketplace for investing equity into innovative, early-stage companies. It provides sophisticated investors free access to direct investment opportunities, diligence tools and industry data insights for an asset class that was previously very difficult to access. For entrepreneurs, MANAFA offers an efficient way to access a network of sophisticated investors as well as leading partners.
ELEVATUS
Series A in 2022
Hire at enterprise scale without enterprise complexity. Since 2019, Elevatus has been rigorously implementing the latest in AI technology and modern science to design award-winning recruiting solutions that are revolutionizing the future of HR. Through these solutions, hundreds of companies from all over the world have been able to hire and assess over 1 million candidates to date. Elevatus helps enterprises, industry giants, startups, and brands from all around the globe centralize their core HR processes under one unified umbrella – to create a faster and more cost-efficient hiring experience. Today, Elevatus is a multi-award-winning software company headquartered in Saudi Arabia; with a growing client base, first-class awards, and legions of talented people in our team.
OQ TECHNOLOGY
Series A in 2022
OQ TECHNOLOGY is focused on revolutionizing the satellite telecommunications sector by offering a universal plug-and-play solution for Internet-of-Things (IoT) connectivity. The company is developing a global satellite constellation specifically for IoT and machine-to-machine communications, targeting industries such as Oil & Gas, Maritime, Industry 4.0, and Transport. Their services facilitate effective management and tracking of assets in remote locations through applications like digital oilfields, offshore monitoring, and fleet management. By providing innovative, low-cost connectivity options along with high-value data analytics, OQ TECHNOLOGY enhances operational efficiency for its clients. The company's wireless technology, developed in partnership with the Luxembourg government and the European Space Agency, is designed for compatibility with existing systems, ensuring ease of installation and long battery life for devices that connect directly to data clouds.
Wahed
Series B in 2022
Wahed Invest is a financial technology company that provides an ethics-driven investment platform tailored for Muslim investors. It focuses on the Shariah-compliant investment market, offering a user-friendly digital platform that features a variety of investment products, such as managed portfolios, venture investments, and real estate options. By utilizing a fully automated system and customized financial optimization algorithms, Wahed aims to deliver portfolio management services that align with Islamic principles. This approach allows individuals who prefer not to engage with traditional banking systems to invest confidently, knowing their investments adhere to ethical standards.
Red Sea Farms
Venture Round in 2022
Red Sea Farms, based in Thuwal, Saudi Arabia, specializes in sustainable agriculture solutions tailored for arid environments. The company focuses on developing innovative technologies that enable greenhouse and hydroponic farms to cultivate high-quality produce while minimizing water and energy consumption. This approach not only enhances food production efficiency but also promotes sustainability and cost savings for farmers. In addition to its proprietary technologies, Red Sea Farms offers consultancy services, providing expert technical advice on the design and project management of saltwater-based and desert agricultural systems. Through its diverse range of products and services, the company aims to address the challenges of agriculture in water-scarce regions.
WakeCap Technologies
Venture Round in 2022
WakeCap Technologies specializes in IoT-based solutions aimed at enhancing safety and productivity within the construction industry. The company provides a platform that allows construction firms to monitor and report on various site activities in real-time, including the tracking of materials, equipment, and workforce presence. By utilizing Internet-of-Things sensors and real-time data analytics, WakeCap empowers construction companies to optimize resource allocation, improve operational efficiency, and make informed decisions based on valuable insights. This innovative approach helps streamline processes, thereby transforming workforce management and contributing to safer and more productive construction environments.
Lamaa
Seed Round in 2021
Lamaa is a financial technology company based in Riyadh, Saudi Arabia, that focuses on providing solutions for small and medium enterprises (SMEs). The company specializes in invoice financing services and offers software and online tools designed to manage banking and tax processes. By facilitating supply chain finance without the need for promissory notes, Lamaa enhances the financial inclusion of SMEs, allowing them to optimize working capital management for suppliers. This approach supports corporations in maximizing their treasury returns while streamlining their financial operations.
Qreeb
Seed Round in 2021
Qreeb is a Procurement and Facility Management platform for enterprise professionals built by procurement and facility management professionals. The Qreeb platform is a proprietary SaaS (Software as a Service). It is digitized automation that modernizes antiquated procedures.
Cura كيورا
Series A in 2021
Cura Healthcare is a Saudi leading telehealth provider that provides digital health and telemedicine software and services. The company has developed state-of-the-art technologies to empower health communications, changing the way patients and doctors interact, diagnose, prescribe, give second opinions, manage chronic diseases, and provide primary health care and well-being therapy sessions. For more information: https://cura.healthcare/en/
Fathom
Venture Round in 2021
Fathom Solutions provides an Industrial IoT platform and Ai applications that deliver valuable insight into the operations to make an informed decision and prompt execution towards achieving performance excellence in a unified single software platform. Fathom Solutions helps companies to be agile to achieve performance excellence through Fathom’s Precocity software platform and smart engineering applications. We unlock the hidden values and maximize the investment of the existing assets by digital enablement that offers; INSIGHT by connecting and unifying all organization resources data, processes, and equipment, devices, human, and customer. EMPOWER the management and workforce to have collaboration in real-time by providing comprehensive Key Performance Indicators and streamlined operations processes procedures, task assignments & instructions digitally without coding required and securely for better efficiency. FATHOM the operations and assets by diagnosing and predict, prescript through a state-of-class presentation in a different format that suits the user to make an insightful decision promptly securely and safely. By having Fathom Solutions, you will have the opportunities for : Reduce operating and maintenance costs, increase efficiency and profitability, Mitigate risk and Maintain compliances, Optimize enterprise performance, and Create Distinct Competitive advantage, and Lead more effectively.
Mohtwize
Seed Round in 2021
Mohtwize is a podcast tech developer that creates a sustainable business model for podcasts.
Joi Gifts
Series A in 2021
Joi Gifts is an online retail platform specializing in a diverse range of gift items suitable for various occasions, including Christmas, birthdays, anniversaries, and corporate events. Founded in 2015 and based in the United Arab Emirates, the company offers an extensive selection of products such as flowers, cakes, gourmet gift baskets, balloons, personalized items, and experience gifts like amusement park visits and salon services. Known for its commitment to quality and customer satisfaction, Joi Gifts provides same-day delivery in major metropolitan areas, ensuring a seamless and memorable gift-giving experience.
ir4lab
Seed Round in 2021
ir4lab is a blockchain technology start-up that focuses on providing innovative solutions to help corporations identify fraudulent resumes and professional qualifications. The company specializes in various advanced technologies, including blockchain, the Internet of Things, and artificial intelligence. In addition to its core offerings, ir4lab provides consulting services, system integration, and digital transformation support, aimed at enhancing business efficiency and fostering local content development. Through its expertise, ir4lab assists clients in accelerating business creation and implementing effective technological strategies.
Red Sea Farms
Series A in 2021
Red Sea Farms, based in Thuwal, Saudi Arabia, specializes in sustainable agriculture solutions tailored for arid environments. The company focuses on developing innovative technologies that enable greenhouse and hydroponic farms to cultivate high-quality produce while minimizing water and energy consumption. This approach not only enhances food production efficiency but also promotes sustainability and cost savings for farmers. In addition to its proprietary technologies, Red Sea Farms offers consultancy services, providing expert technical advice on the design and project management of saltwater-based and desert agricultural systems. Through its diverse range of products and services, the company aims to address the challenges of agriculture in water-scarce regions.
FalconViz
Venture Round in 2021
FalconViz LLC, founded in 2015 and based in Thuwal, Saudi Arabia, specializes in 3D surveying and mapping services using advanced aerial and terrestrial scanning technologies. The company employs autonomous multirotor copters to conduct 3D aerial scanning, offering real-time processing of image, orientation, and positioning data. FalconViz produces interactive 3D models, which serve various sectors including urban planning, industrial engineering, construction, cultural heritage reconstruction, and emergency response. Additionally, the company supports commercial projects such as advertisement and motion picture asset generation. By leveraging patented technologies developed at KAUST, FalconViz contributes to digital transformation in Saudi Arabia, providing clients with accurate, timely data to enhance decision-making and strategic planning.
Postage
Seed Round in 2021
Postage offers delivery services for various goods ranging from clothing to books offered by 50 local and international e-commerce players. It claims to be the first last-mile operator to offer guaranteed same-day delivery between Riyadh and Dammam, as well as offering a two-hour delivery service across Riyadh.
Hazen.ai
Seed Round in 2021
Hazen.ai is a company based in Mecca, Saudi Arabia, that specializes in developing artificial intelligence-driven traffic enforcement software. Founded in 2017, Hazen.ai creates advanced traffic camera systems that utilize computer vision and deep learning algorithms to monitor and analyze traffic violations. Their products, including a traffic violations monitor and a traffic spot and turn counter, are designed to identify dangerous driving behaviors by processing video footage. By providing enforcement organizations with accurate data and analytics, Hazen.ai aims to enhance road safety and assist in the efficient management of traffic violations.
GetMuv
Convertible Note in 2021
1Pass, unique product by GetMuv focusing on Corporate Wellness. Verified employees can access any gym with a single membership and pays on monthly basis.
Ynmo
Seed Round in 2021
Ynmo is a pioneering digital solution focused on enhancing care and educational services for individuals with special needs. It provides a bilingual platform that allows service providers, such as schools, centers, and clinics, to create and monitor personalized treatment plans. The platform includes a mobile app that offers families the ability to screen their children for various developmental concerns, including Autism and language delays, using established screening tools. Additionally, Ynmo's platform features a comprehensive assessment system and access to thousands of customizable goals, all presented with clear instructions. This enables the continuous tracking of individual performance, promoting effective learning and growth for disabled individuals.
Averos
Venture Round in 2020
Averos specializes in advanced tracking and sensing technology, offering solutions that enhance real-time situational awareness for businesses and their customers. Its products, including Real-Time Location Systems, Visitor Tracking and Management Systems, and Indoor Positioning and Navigation Systems, are designed to improve operational efficiency and market positioning across various sectors, such as logistics, travel, retail, and security. Averos provides both standard and customized solutions tailored to meet the specific needs of its clients, facilitating seamless integration with existing enterprise systems. Through its innovative technology, Averos enables organizations to effectively monitor their environments, staff, and valuable assets.
Wahed
Venture Round in 2020
Wahed Invest is a financial technology company that provides an ethics-driven investment platform tailored for Muslim investors. It focuses on the Shariah-compliant investment market, offering a user-friendly digital platform that features a variety of investment products, such as managed portfolios, venture investments, and real estate options. By utilizing a fully automated system and customized financial optimization algorithms, Wahed aims to deliver portfolio management services that align with Islamic principles. This approach allows individuals who prefer not to engage with traditional banking systems to invest confidently, knowing their investments adhere to ethical standards.
Grintafy
Seed Round in 2020
Grintafy Technologies operates a talent discovery platform specifically designed for amateur footballers. The platform aggregates a wide range of sports-related information, providing users with access to player ratings, clubs, scouts, and service providers. It enables users to track their performance metrics, such as goals, assists, and wins, while also offering the ability to browse and book available playing fields. By centralizing this information, Grintafy aims to enhance the experience of amateur players and connect them with opportunities in the football community.
UnitX
Seed Round in 2019
UnitX Technologies is an artificial intelligence and supercomputing company based in Thuwal, Saudi Arabia, founded in 2018. The company specializes in deploying AI at scale for various industries, including finance, government, retail, healthcare, and manufacturing. It offers a range of products and services through its online software platform, such as UnitX Sentient for accelerating AI initiatives, UnitX Maestro for digital transformation with cloud integration, and UnitX RapidSim for on-demand supercomputing aimed at virtual prototyping. Additionally, UnitX automates safety and security monitoring at industrial sites using its patent-pending AI platform, Vizard, which analyzes sensor data and video analytics to provide real-time insights for health, safety, and environmental (HSE) managers. This platform enhances worker safety by detecting hazards and monitoring restricted zones, thereby reducing incident risks and operational costs. UnitX is recognized for its commitment to responsible AI and ethics and holds ISO certification.
Sadeem
Series A in 2019
Sadeem is the world’s first multi-patented flood and traffic information system with active networks to save lives and money in realtime. They offer a novel early detection and monitoring flood system for urban areas and drainage systems. Their holistic solution consists in a combination of sensors network, mobile applications and visualization tools to face floods in a better way and mitigate its effects.
Hazen.ai
Seed Round in 2019
Hazen.ai is a company based in Mecca, Saudi Arabia, that specializes in developing artificial intelligence-driven traffic enforcement software. Founded in 2017, Hazen.ai creates advanced traffic camera systems that utilize computer vision and deep learning algorithms to monitor and analyze traffic violations. Their products, including a traffic violations monitor and a traffic spot and turn counter, are designed to identify dangerous driving behaviors by processing video footage. By providing enforcement organizations with accurate data and analytics, Hazen.ai aims to enhance road safety and assist in the efficient management of traffic violations.
Averos
Seed Round in 2019
Averos specializes in advanced tracking and sensing technology, offering solutions that enhance real-time situational awareness for businesses and their customers. Its products, including Real-Time Location Systems, Visitor Tracking and Management Systems, and Indoor Positioning and Navigation Systems, are designed to improve operational efficiency and market positioning across various sectors, such as logistics, travel, retail, and security. Averos provides both standard and customized solutions tailored to meet the specific needs of its clients, facilitating seamless integration with existing enterprise systems. Through its innovative technology, Averos enables organizations to effectively monitor their environments, staff, and valuable assets.
GetMuv
Seed Round in 2019
1Pass, unique product by GetMuv focusing on Corporate Wellness. Verified employees can access any gym with a single membership and pays on monthly basis.
Shiftah
Seed Round in 2017
Shiftah is a mobile application and online platform that facilitates outdoor advertising by connecting companies with car owners willing to wrap their vehicles in advertisements. This innovative solution allows car owners to earn additional income effortlessly, as they simply drive their cars as usual with the ads displayed. For businesses, Shiftah offers an affordable means of gaining significant exposure and impressions for their brands. The platform also enables advertisers to monitor and track their campaigns in real-time, making it easier to assess the effectiveness of their advertising efforts. By leveraging a network of crowdsourced car owners, Shiftah creates a win-win situation, benefiting both advertisers and participants.
Golden Scent
Series A in 2017
Golden Scent is an online destination for genuine fragrances and beauty products.
Sihatech
Series A in 2017
Sihatech is the solution to the problem of lack of transparency and accountability in healthcare. They have developed a responsive website and two native applications on iOS and Android. Today, a small hospital or clinic can use Sihatech for all their Hospital Information System (HIS) needs and save all the hassle and trouble of working with a third party IT developer and paying thousands of riyals in server and development costs. Sihatech is a pure cloud player. They are focusing on the marketing and appointment booking aspects of the website and apps, but this is just the simple hook to get the doctors on board. Once they experience the robustness of their back end system and their innovative ideas, they will become loyal users. They are already being referred by their existing customers. They are now in the process of building a payment gateway that will allow their users to apply for micro-loans to finance certain medical procedures that are not typically covered by insurance and it will also allow small hospitals and clinics to manage their revenue cycle with insurance companies and their medical supply payments to their vendors (pharmacies, laboratories and equipment/consumables suppliers). Sihatech’s vision is to become the MENA regions premium provider of technology solutions to the healthcare space to improve the access, accountability and quality in healthcare. Sihatech’s mission is to allow the hospitals, polyclinics and doctor practices to outsource all business and technology processes to be able to focus on treating the patient
Bio Organic Standard Company
Series A in 2017
Bio Organic Standard Company
WalaPlus
Seed Round in 2017
Goal To be the leading provider of happiness and loyalty programs, fostering a culture of joy and satisfaction among employees Vision To create a workplace where every employee and customer thrives in an environment of shared happiness and loyalty Products WalaOffer WalaBravo WalaHub WalaPioneer WalaActive Walaone
Smart Controls
Series A in 2017
Smart Controls is an innovation driven company giving turnkey solutions for Process Automation, SCADA and IT Integration to almost all Industry verticals like Rubber and Tyre, Automobile, Textile, Power, Metals, Food, Airport Baggage Handling etc. PLC, Drives and SCADA to a complex plant wide MIS system with SAP integration, Smart Controls has an offering for any industry vertical.
Arabian Calibration Company
Series A in 2017
Arabian Calibration Company provides specialized calibration services for liquid and flow meters, offering both fixed and mobile solutions. The company operates an independent calibration facility that adheres to operational requirements, ensuring clients receive precise flow measurement, verification, and calibration services. Their offerings include meter verification, measurement consultancy, and custom skid design and fabrication, all aimed at delivering accurate engineering metrics for meter calibrations. This focus on comprehensive calibration solutions enables clients to maintain high standards in their measurement practices.
Arabian Robotics
Seed Round in 2017
Arabian Robotics specializes in the design and development of robotic inspection and non-destructive testing solutions for various industrial applications, particularly within the oil, gas, and petrochemical sectors. The company offers a range of services, including ultrasonic thickness testing, pipe inspection, tank inspection, and vessel inspection. By collaborating with key international partners, Arabian Robotics continuously enhances its technologies to deliver reliable and cost-effective inspection services. This focus on innovation enables the company to meet the diverse needs of its clients while ensuring high standards in industrial safety and efficiency.
PayTabs
Series B in 2017
PayTabs is a payment processing and fraud prevention company that aims to streamline online transactions for buyers and sellers. It offers an advanced payment gateway that integrates with merchant websites, allowing for convenient and secure payment processing. The platform supports various features, including digital invoicing, QR code payments, and social media payment links, enabling merchants to facilitate online transactions efficiently. PayTabs focuses on enhancing the overall payment experience while ensuring security against fraud, catering to the evolving needs of the digital economy.
Virtual Vision
Series A in 2016
Virtual Vision is a provider of innovative IT solutions, specializing in business technologies designed to meet the diverse needs of its clients. The company focuses on offering computational capability as a service, which includes application infrastructure, cloud services, and managed and professional IT services. By delivering a comprehensive portfolio of products and solutions, Virtual Vision aims to help businesses reduce their IT costs while ensuring access to both public and private cloud hosting services.
FalconViz
Equity Crowdfunding in 2016
FalconViz LLC, founded in 2015 and based in Thuwal, Saudi Arabia, specializes in 3D surveying and mapping services using advanced aerial and terrestrial scanning technologies. The company employs autonomous multirotor copters to conduct 3D aerial scanning, offering real-time processing of image, orientation, and positioning data. FalconViz produces interactive 3D models, which serve various sectors including urban planning, industrial engineering, construction, cultural heritage reconstruction, and emergency response. Additionally, the company supports commercial projects such as advertisement and motion picture asset generation. By leveraging patented technologies developed at KAUST, FalconViz contributes to digital transformation in Saudi Arabia, providing clients with accurate, timely data to enhance decision-making and strategic planning.
NEARMOTION
Seed Round in 2016
NEARMOTION is a technology company that focuses on indoor navigation solutions using interactive digital maps and augmented reality. Their platform allows users to navigate complex indoor environments, such as malls, airports, and corporate campuses, with accuracy and ease. By integrating augmented reality, NEARMOTION enhances the user experience by overlaying digital information onto the physical environment, guiding visitors to their intended destinations. In addition to wayfinding, their services facilitate customer engagement by providing marketing and tracking capabilities to clients. This combination of navigation and customer interaction tools helps businesses connect effectively with their audience while promoting their products and services. NEARMOTION positions itself as a leader in the indoor navigation sector, delivering intuitive experiences that bridge the digital and physical worlds.
IK Saudi
Series A in 2015
IK Saudi is Saudi JV -based Company and has a manufacturing facility at Dammam second industrial city, IK-Saudi vision to be the premier pipe & pipeline intervention solutions & technologies in Saudi and the Middle East. The company is well positioned to address the current market gap in Saudi Arabia for engineered utility scrapers and bespoke world-class solutions for pipelines in Saudi Arabia and the Middle East.(Hot tapping, Hot Bolting, Hydrostatic Testing , Sub Sea Turn around and repair solutions.
Saferoad Information Technology Co. LTD
Series A in 2015
Saferoad had led Middle East market with their innovative Telematics solutions, which go beyond managing fleets and their maintenance costs, up to optimize drivers’ utilization, ensure drivers safety, and help companies to reduce the OPEX and insurance expenses. The primary goal of Saferoad is to reduce accident number and to help the drivers in Saudi Arabia to enhance their driving behavior. The effective contribution of Saferoad technologies in regional economy let the company get many awards like IQPC, Arabian Venture Forum, Forbes, TechTour.
Geophysical Equipment Factory
Series A in 2014
Geophysical Equipment Factory Limited, located in Al-Khobar, Saudi Arabia, specializes in the manufacturing of exploration and geophysical equipment, particularly for the oil and petroleum industry. Established with a decade of expertise in seismic and data acquisition management, the company aims to provide the local and Middle Eastern markets with high-quality geophysical tools. Their product offerings include a range of seismic equipment and accessories such as cables, pickup loops, geophone connectors, dust caps, spikes, banana pins, and carrying hasps. All products are designed to meet international standards while being locally manufactured, ensuring that clients have access to professional-grade equipment for efficient seismic processing. The factory operates from a facility spanning over 2,000 square meters in the Al Rubain Industrial Area.
OrderMe
Convertible Note in 2014
OrderMe offers high end technology solutions and smart navigation solutions to the smallest independent restaurants and the largest QSR chains.
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