Saudi Aramco Entrepreneurship Ventures

Saudi Aramco Entrepreneurship Ventures, through its venture capital arm Wa’ed Ventures, aims to ignite the spirit of entrepreneurship in Saudi Arabia by providing development and financial support to entrepreneurs. By offering business incubation, coaching, training, seed funding, non-collateral loans, and venture capital investment, the organization supports the growth of small- and medium-sized enterprises to diversify the Kingdom’s economy. Wa’ed Ventures collaborates with key players to create an effective entrepreneurship ecosystem, promoting economic growth, job creation, and technological advancement in sectors such as ICT, energy, manufacturing, healthcare, and services. With a focus on seed, early, and growth stage businesses, the organization typically invests $3-5 million over 2-3 rounds of financing, seeking minority shareholding in high potential companies to fuel economic development in Saudi Arabia.

Khalil A. Al-Shafei

CEO and Managing Director

Wassim Basrawi

Managing Director

Trey Goede

Investment Manager

Past deals in Saudi Arabia

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.

Red Sea Farms

Venture Round in 2022
Red Sea Farms is a company based in Thuwal, Saudi Arabia, specializing in sustainable agriculture solutions tailored for saltwater and desert environments. It focuses on developing innovative technologies that enhance produce cultivation while conserving water and energy. The company offers a range of products and services, including technical consultancy, design, and project management for greenhouse and hydroponic farming systems. With its patent-pending technology, Red Sea Farms aims to enable farms to produce higher quality food more efficiently, ultimately increasing profitability in an environmentally sustainable manner.

Lamaa

Seed Round in 2021
Lamaa is a financial technology company based in Riyadh, Kingdom of Saudi Arabia, specializing in providing innovative solutions for small and medium enterprises (SMEs). The company offers a range of software and online tools designed to streamline banking and tax processes, thereby enhancing operational efficiency. Additionally, Lamaa provides invoice financing services, facilitating supply chain finance without the need for promissory notes. This approach aims to improve SMEs' access to financial resources, promoting their inclusion in the broader financial ecosystem. By enabling more effective working capital management for suppliers, Lamaa helps businesses maximize their treasury returns.

Cura كيورا

Series A in 2021
Cura is a telemedicine company that connects patients with licensed doctors through its platform, allowing users in Saudi Arabia to access teleconsultations across approximately 200 medical specialties. Since its launch in 2016, Cura has enhanced its services to enable users to receive diagnoses based on international standards and obtain e-prescriptions for themselves or their family members. The platform facilitates consultations through various media, including pictures, videos, and audio recordings, ensuring that patients can follow up on their healthcare needs without the constraints of time or distance. Users can also pay for services using their health insurance, further streamlining the process of accessing medical care.

Red Sea Farms

Series A in 2021
Red Sea Farms is a company based in Thuwal, Saudi Arabia, specializing in sustainable agriculture solutions tailored for saltwater and desert environments. It focuses on developing innovative technologies that enhance produce cultivation while conserving water and energy. The company offers a range of products and services, including technical consultancy, design, and project management for greenhouse and hydroponic farming systems. With its patent-pending technology, Red Sea Farms aims to enable farms to produce higher quality food more efficiently, ultimately increasing profitability in an environmentally sustainable manner.

FalconViz

Venture Round in 2021
FalconViz LLC is a Saudi Arabian company founded in 2015, specializing in 3D surveying and mapping services. Utilizing advanced technologies developed at KAUST, FalconViz offers a range of services that include aerial scanning with autonomous drones, real-time data processing, and the generation of interactive 3D models. Their solutions cater to various sectors, including urban and rural planning, industrial engineering, construction, structural inspections, cultural heritage reconstruction, and emergency response planning. The company is recognized for its ability to fill technological gaps in digital transformation, providing clients with accurate and reliable data for strategic decision-making. FalconViz’s team comprises specialized geo-engineers and spatial computing experts, who leverage a fleet of aerial drones and terrestrial scanning systems to deliver comprehensive digital asset solutions.

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 specializing in artificial intelligence-based traffic enforcement solutions, founded in 2017 and headquartered in Mecca, Saudi Arabia. It develops advanced traffic camera systems that utilize computer vision and deep learning to monitor and analyze traffic violations, including dangerous driving behavior. Hazen.ai's products, such as traffic violation monitors and vehicle motion tracking software, are designed to assist enforcement organizations in efficiently identifying and addressing various moving violations. By leveraging cutting-edge video analysis technology, the company's systems aim to enhance road safety and ultimately save lives.

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 helping enterprises deploy AI at scale through its online software platform. Among its offerings are UnitX Sentient, which accelerates AI initiatives, UnitX Maestro, which facilitates digital transformation through on-premise and edge-to-cloud integration, and UnitX RapidSim, which provides on-demand supercomputing for virtual prototyping. Additionally, UnitX automates safety and security monitoring at industrial sites using its patent-pending AI platform, Vizard. This platform leverages sensor data and video analytics to deliver real-time insights for health, safety, and environmental (HSE) managers, detecting hazards and monitoring restricted zones. UnitX serves multiple industries including finance, healthcare, and manufacturing, and is recognized for its commitment to responsible AI practices, holding ISO certification and endorsements from SDAIA and NVIDIA.

Sadeem

Series A in 2019
Sadeem Technology is a pioneering company based in Thuwal, Saudi Arabia, specializing in innovative wireless sensing solutions for urban environments. Founded in 2016, Sadeem develops a multi-patented system that monitors critical factors such as floods, traffic, weather, and air quality. The company employs a network of solar-powered sensors that can be easily installed in urban areas and drainage systems, functioning in a plug-and-play manner. These sensors work in conjunction with mobile applications and visualization tools to provide real-time data, enhancing disaster management efforts and helping to mitigate the impacts of floods and traffic congestion. Sadeem's holistic approach aims to save lives and reduce economic losses associated with environmental challenges.

Hazen.ai

Seed Round in 2019
Hazen.ai is a company specializing in artificial intelligence-based traffic enforcement solutions, founded in 2017 and headquartered in Mecca, Saudi Arabia. It develops advanced traffic camera systems that utilize computer vision and deep learning to monitor and analyze traffic violations, including dangerous driving behavior. Hazen.ai's products, such as traffic violation monitors and vehicle motion tracking software, are designed to assist enforcement organizations in efficiently identifying and addressing various moving violations. By leveraging cutting-edge video analysis technology, the company's systems aim to enhance road safety and ultimately save lives.

FalconViz

Series A in 2016
FalconViz LLC is a Saudi Arabian company founded in 2015, specializing in 3D surveying and mapping services. Utilizing advanced technologies developed at KAUST, FalconViz offers a range of services that include aerial scanning with autonomous drones, real-time data processing, and the generation of interactive 3D models. Their solutions cater to various sectors, including urban and rural planning, industrial engineering, construction, structural inspections, cultural heritage reconstruction, and emergency response planning. The company is recognized for its ability to fill technological gaps in digital transformation, providing clients with accurate and reliable data for strategic decision-making. FalconViz’s team comprises specialized geo-engineers and spatial computing experts, who leverage a fleet of aerial drones and terrestrial scanning systems to deliver comprehensive digital asset solutions.

FalconViz

Equity Crowdfunding in 2016
FalconViz LLC is a Saudi Arabian company founded in 2015, specializing in 3D surveying and mapping services. Utilizing advanced technologies developed at KAUST, FalconViz offers a range of services that include aerial scanning with autonomous drones, real-time data processing, and the generation of interactive 3D models. Their solutions cater to various sectors, including urban and rural planning, industrial engineering, construction, structural inspections, cultural heritage reconstruction, and emergency response planning. The company is recognized for its ability to fill technological gaps in digital transformation, providing clients with accurate and reliable data for strategic decision-making. FalconViz’s team comprises specialized geo-engineers and spatial computing experts, who leverage a fleet of aerial drones and terrestrial scanning systems to deliver comprehensive digital asset solutions.

Wade7

Series A in 2015
Wade7 is an educational platform focused on transforming the learning experience for mathematics and physics. By reimagining traditional lessons as engaging stories, the company aims to capture students' interest and enhance their understanding of complex concepts. Each lesson is presented as a short animated video, typically lasting no more than three minutes, which relates mathematical and physical principles to real-world applications. This innovative approach not only makes learning enjoyable but also accessible, as students can access the content anytime and anywhere. In addition to the video lessons, Wade7 provides exercises to reinforce understanding, ensuring that students can apply what they have learned. By offering affordable educational resources, Wade7 seeks to reach a broad audience of Saudi students, making quality education more attainable.

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

Series A in 2015
SafeRoad Co. LTD. specializes in GPS tracking hardware and software solutions aimed at enhancing safe road operations in the Middle East. Founded in 2008 and based in Khobar, Saudi Arabia, the company provides a comprehensive range of services including fleet management, individual vehicle monitoring, generator monitoring, and school bus systems. Its offerings feature real-time tracking, history tracking, geo-fencing, and notification alerts. SafeRoad's innovative telematics solutions not only focus on fleet management but also on optimizing driver utilization, ensuring driver safety, and reducing operational costs and insurance expenses for various sectors such as transportation, courier delivery, and civil contracting. The company's commitment to improving road safety and driver behavior has garnered recognition and awards from notable organizations, highlighting its significant impact on the regional economy.

Geophysical Equipment Factory

Series A in 2014
Geophysical Equipment Factory Limited, located in Al-Khobar, Saudi Arabia, specializes in the manufacture of exploration and geophysical equipment tailored for the oil and petroleum industry. Established to meet the growing demand for reliable seismic technologies, the company leverages over a decade of experience in seismic data acquisition and management. The factory, which spans over 2,000 square meters in the Al Rubain Industrial Area, focuses on producing a variety of geophysical products, including cables, geophone connectors, and other essential accessories, all designed to adhere to international standards. By offering locally manufactured equipment, Geophysical Equipment Factory aims to enhance seismic processing capabilities for clients in the local and Middle Eastern markets.
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