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Wa’ed Ventures

Wa’ed Ventures Overview

A subsidiary of Saudi Aramco, Wa’ed Ventures is a multi-million venture capital aimed at fostering global innovation and advancing Saudi Arabia’s entrepreneurs.

Wa’ed Ventures holds a portfolio of over 75 companies and has a maximum ticket size of 20 million per deal. It provides access to Aramco’s strategic resources, partnerships and market intelligence and also supports companies expanding across markets and regions.

Wa’ed mainly focuses on tech-based startups from seed to Series C stages, targeting underserved tech domains and emerging technologies, such as the metaverse and quantum computing.

Notable investments include a $13 million funding in Luxembourg-based 5G IoT satellite operator OQ Technology, Wa’ed’s first overseas investment.

Wa’ed Ventures News

A 5G antenna in New York. Mavenir is collaborating with investment bank Evercore on discussions with Aramco Digital

Aramco unit seeks $1bn stake in US telecom software maker 

Aramco Digital, the wholly owned technology arm of Saudi Aramco, plans to invest $1 billion in Mavenir, a US-based telecom service provider, as part of its strategic push into the telecommunications sector. The Saudi investment is expected to secure a “significant minority” stake in Mavenir, valuing the US company at $3 billion, sources familiar with […]

It is hoped the investment fund from Wa'ed Ventures will incentivise local entrepreneurs

Saudi Aramco’s VC unit to invest $100m in AI startups

Wa’ed Ventures, the $500 million venture capital fund owned by Saudi Aramco, plans to invest $100 million in early-stage artificial intelligence startups. It has appointed an advisory board made up of AI leaders to source promising investment and accelerate localisation of the AI industry in the kingdom. The board includes experts with experience at Meta, […]

The new technology can help with tracking projects as contractors often have no idea how many workers are on site at one time and workers are frequently unsupervised

Saudi startup’s smart helmets upping safety on building sites

When Hassan AlBalawi first proposed a smart helmet that would track all employee movements on building sites, construction companies could not see the point.  “We were focusing on this problem of how to get technology into the construction field, measuring the drowsiness of construction workers. But it turned out the construction companies didn’t know or care,” […]

Saudi gulf startup CANGo Khalilah Camacho Ali

$200m fund for Gulf startups launched by Saudi investors

A group of Saudi family offices and investors have launched a SAR750 million ($200 million) Gulf-focused startup investment fund called Waad.  The fund brings together Saudi investor Yaser AlGhamdi, who is the new fund’s  CEO, the AlMajed family office, which owns the Al Majdiah Group, and the AlMisfer family office, which owns the Saudi Real […]

3D concrete printing

Nakheel’s 3D concrete printing project seen as catalyst

Dubai’s first licence for 3D concrete printing in a building project is a catalyst for the technology to become the norm in the construction sector by the end of the decade, experts believe. The licence was issued in December by Dubai’s planning and development department, Trakees,  the regulatory body of the Ports, Customs and Free […]

Adult, Male, Man

STC unit buys 40% stake in Devoteam Middle East

Arabian Internet and Communications Services Company – known as Solutions and a wholly-owned subsidiary of Saudi Telecom Company – has acquired a 40 percent stake in regional IT consultancy company Devoteam Middle East for AED 726.3 million ($197.74 million). The stake buyout comes in line with Solutions’ strategy to expand into new business lines and markets to enable […]

Arabian businessman working in modern office Additional funds will be used by Aramco Ventures to support startups in a variety of sectors, from tech to sustainable development

Saudi Aramco doubles funds for venture capital arm

The Saudi oil giant Aramco said on Wednesday that it had more than doubled the capital allotted to its venture capital arms to $7.5 billion as part of its investment in new energy and digital technologies.  The additional $4 billion will be given over the next four years to Aramco Ventures, where Aramco had already […]

3D home construction company Mighty Buildings raised $52 million in funding, led by Wa’ed Ventures, the fund backed by oil major Saudi Aramco

US 3D home printer to set up factories in UAE and Saudi

The UAE and Saudi are set to have 3D-printed prefabricated homes in the coming years, after a US company announced plans to set up factories in the Gulf states. The move comes after Mighty Buildings, a California-headquartered 3D home construction company, raised $52 million in funding, led by Wa’ed Ventures, the $500 million venture capital […]

Mohammed Alqasir and Abdullah Aljadhai, co-founders of Rewaa

Aramco’s VC unit leads tech startup’s $27m funding round

Technology startup Rewaa has raised SAR100 million ($26.6 million) in a Series A funding round led by Wa’ed Ventures, Saudi Aramco’s venture capital fund. Saudi Telecom Company’s Corporate Innovation Fund (CIF), launched in February to invest in early-stage tech companies across various digital sectors, also participated in the round. Other investors included Silicon Valley’s Graphene Ventures, […]

KPMG launches Saudi metaverse investment fund

KPMG has launched a co-investment fund for metaverse use-cases in Saudi Arabia, as the kingdom ramps up its commercialisation of the new technology.  The consultancy firm will work with Saudi public and private partners on expediting metaverse-based technology for practical use. “We’re optimistic about the future of metaverse and Web3 technologies in the kingdom,” said […]