Red Sea Global partners with Bunat VC to launch an AI-focused venture fund backing Saudi startups and scaling AI innovation
Saudi startup
Latest in Saudi startup
PIF
PIF launches Tasama to boost Saudi entrepreneurship and tech ecosystem
New PIF-owned entity Tasama aims to transform Saudi Arabia’s business services sector, support startups, attract global firms, and accelerate economic diversification
Saudi businesses
Saudi entrepreneurs: 42% of adults plan to launch a business despite a fear of failure
Saudi Arabia’s entrepreneurial drive is at an eight-year high according toa new report
entrepreneurship
VC firm MSA Novo signs pact with KAUST to foster tech startups in Saudi Arabia
The partnership is aimed at bolstering the Saudi startup ecosystem
Saudi Arabia
Saudi Venture Capital Company raises investment capital to $1.6bn
The fund promotes the startup ecosystem in the country with its pre-seed to pre-IPO investments in funds and co-investment in startups
Saudi Arabia
Saudi Arabia’s venture capital soars 72% in 2022 to $987mn
Saudi Arabia achieved the highest growth rate of venture capital in 2022 compared to other countries in the MENA, said the report by MAGNiTT
accelerator programme
Fintech Saudi’s second accelerator programme sees participation of 12 startups
The three winning startups at this year’s programme were awarded a financial grant of SAR 50,000 each by Saudi Aramco Entrepreneurship Center
Buy now Pay later
Saudi-based BNPL startup Tamara expands operations to UAE
The buy-now-pay-later company said it already has Namshi, SHEIN and Swarovski on board and hopes to sign up hundreds more merchants in the coming months
Amazon
Saudi Arabia taps Amazon to launch 30 new local logistics startups
Saudi Arabia is tapping Amazon to help launch dozens of new local startups in its growing logistics sector
AB Ventures
Saudi Arabia’s HyperPay raises $36.8mn in new investment round led by Mastercard
New funding will support the payment services provider’s regional expansion to Egypt, Qatar and Oman
