Aramco and STC units back US tech startup Graphiant

US network connectivity startup Graphiant has secured funding from the venture capital units of Saudi Aramco and Saudi Telecom Company (STC), as it plans to open a regional headquarters in Riyadh.

Aramco’s Wa’ed Ventures and STC Tali Ventures have invested a combined $19 million, bringing total series B funding to $102 million, Graphiant said in a statement.

The announcement comes after US President Donald Trump’s visit to Saudi Arabia, the UAE and Qatar last week, where trillions of dollars worth of deals were signed.

Saudi Arabia is scaling up digital infrastructure at “historic” speeds, Graphiant said, adding that its regional HQ in the Saudi capital will localise talent, technology transfer and ecosystem growth.

The global market for network-as-a-service is projected to top $92 billion by 2030, according to Graphiant.

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Wa’ed Ventures, the $500 million venture capital arm of Aramco, has deployed $270 million across more than 75 startups so far, according to its Linkedin profile.

Tali Ventures invests in early to growth-stage startup, with focus on AI, fintech, proptech and information technology companies.