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.
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.
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.
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.
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/
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.
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.
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.
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.
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.
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