The 19 Top Funded Startups in Saudi Arabia!

: September 02, 2019

The 19 Top Funded Startups in The Kingdom of Saudi Arabia!

 

 

Saudi Arabia, isn't really known for it's startups, well not yet! But they are pushing hard towards achieving their goal for "Saudi Vision 2030". And with the recent numbers, it is evident that the country's economy will not be dependant on oil for much longer. 

 

The startup tech-scene for Saudi Arabia is growing by the day, and its ecosystem are producing some exciting startups utilizing technology such as: IoT, SaaS, AgTech, AI, Robotics, HealthTech etc. 

 

Eventhough we haven't yet seen any massive round of funding raised by any startup from the country, which will change pretty soon. I mean there are some early stage startups with huge potential and we might even see some of them turing into a "unicorn". 

 

Here Are The List of 19 Top Funded Startup in Saudi Arabia:

 

 

1. Geidea:

A financial technology company that provides its customers, both in the private and public sectors the latest and best electronic payment solutions. Geidea offers POS software solutions along with their own hardware and those offered by Verifone. Types of POS hardware offered includes portable, countertops, pinpads and self-service machines.

 

Total Funding: $267M (in a deal of acquiring 51% stake of the company)

Investor: Gulf Capital

 

2. NuYu:

A fitness chain only for women in Saudi Arabia that offers physical fitness, emotional wellbeing, and psychological wellbeing programs for women. NuYu is the first and only fitness concept in the Kingdom designed exclusively for women. They are unique in their approach, focusing not just on the physical aspects of fitness but also on the psychological and emotional benefits that accompany an active lifestyle.

 

Total Funding: $67M

Investor: Arcapita, a Bahrain investment management firm.

 

 

3. PayTabs: 

An innovative new economy centric payment solution built to provide buyers and sellers an advance technology to pay and get paid. PayTabs Services offers a hassle-free online payment solution with the will to empower the business of e-commerce especially on the Small and Medium enterprises to allow them to accept credit and debit payments at reasonable rates to grow their business with stronger cash flows while still providing us a significant profit opportunity.

 

Total Funding: $25M

Investors: Saudi Aramco Entrepreneurship Ventures

 

4. Unifonic:

A cloud communications platform that builds powerful messaging and voice capabilities into your systems without the need for hardware or network operators. Unifonic's products include SMS,Voice Intelligence, & Verification. The company has over 5,000 happy customers. Some of their customers include Ubeer, Careem, REDTAG, allnima bank, Easy Taxi etc.

 

Total Funding: $21M

Investors: STV, Endeavor Catalyst, Raed Ventures, & Riyad TAQNIA Fund (RTF)

 

5. Nana Direct:

An on-demand grocery delivery platform facilitating doorstep deliveries of groceries and other home essentials in Saudi Arabia. Nana Direct provides you with a full and varied list of groceries and home essentials neatly classified to shop with your fingertips.

 

Total Funding: $11M

Investors: Middle East Venture Partners (MEVP), Impact46, Wamda Capital, Saudi Venture Capital and others

 

6. UTURN: 

A leading online Entertainment network in Arabic video content. UTURN started in Saudi Arabia as a digital production company in 2010 with original YouTube shows ( Eysh Elly, 3al6ayer, Noon Alniswa, Ana W Heya, Aldor Al3asher). 

 

Total Funding: $10M

Investors: Leap Ventures & Endeavor Catalyst

 

7. Telfaz11:

A website of C3 Films, Telfaz11 is a creative media production company specializing in locally-relevant entertainment content from the Middle East. It is widely regarded for introducing a new era of innovative and impactful storytelling in the Arab world and influencing pop culture in the Kingdom through its relatable and entertaining content.

 

Total Funding: $9M

Investors: STV, BADIR, VentureSouq and Financial Horizon Group

 

8. Noon Academy:

An EdTech startup that offers a variety of fun, family orientated programs that aim to bring families together in an interactive way to build unbreakable bonds. Noon Academy’s main goal is to teach students the skills and habits they need to become the ‘Best They Can Be.’.

 

Total Funding: $8.6M

Investors: Raed Ventures, STV, SVC, & Abdulla Elyas

 

9. Foodics:

A cloud-based restaurant management system. Its smart POS system to help you manage food orders, ingredient inventories & timesheets for restaurants, cafés & QSRs. Foodics offers a cloud-based all-in-one restaurant management system on an iPad in English and Arabic. With multiple add-on iOS apps and building on more.

 

Total Funding: $8M

Investors: Raed Ventures, Faith Capital, 500 Startups, & Riyad TAQNIA Fund (RTF) etc

 

10. Syarah:

An online marketplace for selling and buying cars in Saudi Arabia. Syarah specializes in promoting B2C and C2C cars for sale online, helping businesses and individuals sell their cars with ease and as fast as possible.

 

Total Funding: $2M

Investors: BECO Capital, Raed Ventures, Vision Ventures & 500 Falcons

 

11. Zid: 

An e-commerce in a box - solution that any retailer can use to start their eRetail. Zid's goal is to facilitate e-commerce in all its aspects Z team is very interested in helping you succeed and increase your.

 

Total Funding: $2M

Investors: MSA Capital, Elm Street Ventures, & Arzan Venture Capital

 

12. B8ak:

An online home-service marketplace app that allow users to order quality home maintenance services conveniently with only few clicks in their mobile app. B8ak aims at homeowners and landlords in Saudi Arabia, and Bahrain and provides access to handymen and service providers.

 

Total Funding: $2M

Investors: Riyad TAQNIA Fund (RTF) & Dar wa Emaar Development and Investment Company

 

13. DokkanAfkar: 

An e-commerce websites in Saudi Arabia for creative products, announced the launch of its ‘Designer Program’ in the GCC states. DokkanAfkar was created to enable customers to buy cool unique products with ideas that are fun, unusual and unique.

 

Total Funding: $2M

Investors: Mobily Ventures and Riyad TAQNIA Fund

 

14. GetMuv:

An interactive mobile and web application aiming to spread physical education awareness and facilitates the practice of sports in a more entertaining. GetMuv is the most popular sports application in the Kingdom.

 

Total Funding: $1.5M

Investor: Saudi Aramco Entrepreneurship Ventures

 

15. FalconViz:

An innovative data collection, processing, and visualization company with a focus on drone-based services. FalconViz builds drone hardware & software with its disruptive technology and offers end-to-end solutions regarding 3D surveying and mapping by Unmanned Aerial Systems (UAS) with autonomous integration of drones, planes, copters and 3D software solutions.

 

Total Funding: $1.3M

Investors: KAUST Innovation Fund & Saudi Aramco Entrepreneurship Ventures

 

16. Sihatech: 

A health application technology company that empowers patients to find the best doctor according to their needs. Sihatech’s vision is to become the MENA regions premium provider of technology solutions to the healthcare space to improve the access, accountability and quality in healthcare.

 

Total Funding: $1.3M

Investors: Saudi Aramco Entrepreneurship Ventures & Waseel Application Service Provider

 

17. NOMADD:

A device that was specifically designed to provide the best cleaning solution for all desert solar array applications. NOMADD is a local solution, designed to suit local conditions, to solve a local problem. It is the answer for the MENA Desert Solar Challenge.

 

Total Funding: $1.3M

Investors: KAUST Innovation Fund, DSM Venturing, & CEPCO

 

18. Lucidya: 

An award winning AI-powered social media monitoring platform that empowers businesses tomake smarter strategic decisions via innovative big data and machine learning technologies. Lucidya is arabic focused social media listening tool that empowers businesses to understand their customers by revealing key consumers insights in real time.

 

Total Funding: $1.1M

Investor: Abunayyan Holding, an energy solution provider in Riyadh

 

19. Morni:

A mobile application that provides road-side assistance for vehicle breakdowns in Saudi Arabia and the Gulf Countries. Morni has a network of more than 6000 providers serving customers in the UAE, Kuwait, Bahrain, Oman, and Qatar. The Morni app has been downloaded more than 500,000 times on Android and Apple.

 

Total Funding: $1.1M

Investors: Raed Ventures and 500 Startups

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You can find a list of some Exciting Startups in Saudi Arabia.

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