Company Insights Wa’ed Ventures Banking & Finance 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 Telecoms 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 […] November 25, 2024 Artificial Intelligence 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, […] October 29, 2024 Construction 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,” […] October 11, 2024 Banking & Finance $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 […] August 28, 2024 Construction 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 […] February 21, 2024 Tech 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 […] February 5, 2024 Finance 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 […] January 17, 2024 Construction 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 […] September 13, 2023 Tech 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, […] August 29, 2023 Tech 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 […] February 13, 2023 Posts navigation 1 2 Next
Telecoms 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 […] November 25, 2024
Artificial Intelligence 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, […] October 29, 2024
Construction 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,” […] October 11, 2024
Banking & Finance $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 […] August 28, 2024
Construction 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 […] February 21, 2024
Tech 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 […] February 5, 2024
Finance 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 […] January 17, 2024
Construction 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 […] September 13, 2023
Tech 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, […] August 29, 2023
Tech 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 […] February 13, 2023