Saudi startup joins in national efforts promote green building

Saudis are increasingly becoming aware of using sustainable solutions to conserve energy and preserve the environment in line with the government’s efforts. (GettyImages)
Short Url
Updated 25 October 2021
Follow

Saudi startup joins in national efforts promote green building

  • Large number of people in the Kingdom are moving toward sustainable solutions

LONDON: As global leaders converge at the Middle East Green Initiative Summit on Oct. 25, the focus will be on new ideas and proposals to replace the wasteful and polluting ways in favor of environmentally-friendly methods. 

Meanwhile, there are set to be profound changes at the grass-roots level, in terms of sustainable living environments. A number of “green” startups have emerged in the Kingdom in recent years, offering products and services that aim to reduce carbon emissions while improving the quality of life for ordinary citizens.

One such company is Riyadh-based EIA Energy. Founded in 2020 with support from Monsha’at, the General Authority for Small and Medium Enterprises, EIA Energy is a 12-employee firm with a turnover of SR1.2 million and projected growth up to SR7.5 million by Q4 2022.

“EIA Energy was founded as an energy services company (ESCO) and has developed into a provider of end-to-end energy management services and solutions to reduce energy consumption and increase energy efficiency in client facilities,” CEO Abdullah Al-Othman told Arab News. 

As a certified ESCO, EIA Energy provides three kinds of service: First, energy consulting and energy monitoring in order to reduce costs; second is the obtaining of “green certification” for facility owners and managers; and third is guidance regarding green building techniques in terms of architecture, efficient water use, landscaping and eco-friendly transport solutions. 

EIA Energy describes its energy efficiency strategy as the “SMARRT Approach” – an acronym for Surveying, Monitoring, Analyzing, Reducing, Reviewing and Targeting.  

There will be a growing demand for this kind of consultancy in Saudi Arabia as builders and developers conform to new green regulations while satisfying the demand of modern families for a healthier and better way of life. 

“This is a good time for ESCOs right now,” says Al-Othman, “because we’re catching the beginning of the whole transformation that’s taking place, the cultural shift. There are a lot of government initiatives – Vision 2030, SGI, Green Riyadh — which stimulate the entire market and create a lot of opportunities.”

In the 1960s and 70s Riyadh and other cities in the Kingdom became the so-called “supergrids” of intersecting highways, filled in with buildings and concrete surfacing with only a small allowance for green spaces. Concrete absorbs and radiates heat in the summer months, while preventing ground absorption of rainwater during the winter — causing severe and sometimes fatal flooding. 

“We say no to concrete,” says EIA Energy GM Hamza Khan. “We prefer gravel because there has to be porous ground that allows rainwater to go back into the earth and replenish the groundwater sources.”

Builders, developers and facility operators have no choice but to move from words to action. “We are getting a lot of inquiries from apartment and compound owners, supermarkets, retail outlets and restaurants,” says Khan. “They all want to reduce their costs and their emissions – to offer something more sustainable and to stand apart from the competition.” 

Much of EIA Energy’s efforts are dedicated to enabling LEED (Leadership in Energy and Environmental Design) Certification from the US Green Building Council. This certification promotes a higher quality of life for building occupants in terms of energy and water efficiency and improvement of the living environment. It follows the principle of the triple bottom line of the 3Ps: People, planet and profit. This certification can be applied to any built-up area: residential facilities, office buildings, educational institutions and hospitals.

EIA Energy relies on hardware and software supplied by its UK partner Best Energy. “But it is clear that the technologies we bring to Saudi Arabia should be manufactured or at least assembled here,” says Al-Othman. “And that would solve a major issue that we are facing now with the destruction of the global supply chain due to COVID-19 and other factors.” The company also has ambitions to develop its own proprietary solutions as it grows and expands. 

“Saudi Arabia is going green and is moving towards energy efficiency and reducing its carbon emissions,” says Al-Othman. “Green tech startups and ESCOs have a major part in this. We are benefiting from new government initiatives, and we just want to keep improving and introducing more services — in line with Vision 2030, which says that SMEs should play a key role in the future Saudi economy.”


MENA startups land fresh capital, deals, and momentum 

Updated 01 February 2026
Follow

MENA startups land fresh capital, deals, and momentum 

  • Mega-rounds and strategic deals signaling investors’ continued appetite

RIYADH: Capital kept moving across the Middle East and North Africa as January came to an end, with mega-rounds, record local fundraises, and strategic deals signaling investors’ continued appetite for scalable platforms, from property and wealth tech to insurance tech, mobility, and Arabic-first artificial intelligence. 

Saudi Arabia-based wealthtech Vennre raised $9.6 million in a pre-series A round structured through a mix of equity and debt. 

The round was co-led by Vision Ventures and anb seed Fund, with participation from Sanabil 500, Ace & Co, Plus VC, and a group of strategic individual investors. 

Founded in 2021 by Ziad Mabsout, Anas Halabi, and Abdulrahman Al-Malik, Vennre focuses on providing high earners with Shariah-compliant access to private market investments. 

The company said the new capital will be used to expand its client base, roll out new platform features, and deepen its presence in Saudi Arabia in line with Vision 2030 and the growth of the local fintech sector. 

Vennre founders Ziad Mabsout, Anas Halabi, and Abdulrahman Al-Malik. (Supplied)

Property Finder secures $170m

UAE-based property tech Property Finder has raised $170 million in new funding led by Mubadala Investment Company, alongside another UAE sovereign wealth fund and BECO Capital. 

Under the transaction, Mubadala and the second sovereign investor will each invest $75 million, while BECO Capital will commit $20 million from its recently launched $250 million Growth Fund I. 

Founded in 2007 by Michael Lahyani and Renan Bourdeau, Property Finder operates a marketplace that enables users to search for properties to buy or rent using advanced filtering tools. 

The investment follows a $525 million round in 2025 led by Permira, with significant participation from Blackstone Growth, bringing total equity raised to nearly $700 million. 

The company has also secured $250 million in debt financing from Ares Management and HSBC, making it one of the largest funding stories in MENA tech. 

Property Finder said the fresh capital will support its ambition to build the region’s leading real estate operating system, focused on transparency, trust, and data-driven decision-making. 

Yakeey sees record Moroccan series A round

Beltone Venture Capital has made a strategic equity investment in Moroccan proptech Yakeey as part of the startup’s $15 million series A round, the largest completed in Morocco to date. 

The round also includes IFC, Enza Capital, and 212 Founders. Founded to modernize Morocco’s fragmented real estate sector, Yakeey is building an end-to-end digital platform that integrates property search, valuation, brokerage, and financing. 

The company said its early scalability and growing broker network position it for regional expansion as demand rises for transparent, digitised real estate services across North Africa. 

Enakl develops technology to design and manage flexible shared transport networks for companies and public-sector actors. (SUpplied)

Enakl closes $2.3m seed round 

Startup Enakl has closed a $2.3 million seed funding round, finalized in December, following an initial $1.4 million round completed at the end of 2024. 

The round brought in new Moroccan investors Azur Innovation Fund, Witamax, and MFounders, alongside reinvestment from Catalyst Fund and Digital Africa. 

Founded in 2022 by Samir Bennani and Charles Pommarede, Enakl develops technology to design and manage flexible shared transport networks for companies and public-sector actors. 

The company said the funds will be used to strengthen commercial teams, launch the first version of its Software-as-a-Service product, and test new development models for ridepooling fleets, following its first pilot public contract with the Casablanca–Settat Region. 

Glamera Holding signs MoU to acquire Bookr Group 

Middle East–based lifestyle technology platform Glamera Holding has signed a memorandum of understanding to acquire Bookr Group, a multi-market operator active across Kuwait, Bahrain, and Saudi Arabia. 

Founded in 2022 by Mohamed Hassan Hijazi and Omar Fathy, Glamera operates a technology platform for the beauty and wellness sector and has processed transactions exceeding SR4 billion ($1.07 billion), supporting more than 4,500 service providers. 

Bookr Group runs a service-provider management platform and consumer booking application. (SUpplied)

Bookr Group runs a service-provider management platform and consumer booking application with more than 300,000 users. 

Glamera said the acquisition will strengthen its regional footprint and support its ambition to build a unified, AI-powered ecosystem for service providers and end users, with the combined platform expected to serve millions across the Middle East. 

Mantas raises $1.77m seed 

UAE-based insurance tech Mantas has emerged from stealth with a $1.77 million seed funding round to launch parametric insurance products covering cloud outages and digital downtime. 

The round includes Nuwa Capital, Suhail Ventures, and Plus VC, as well as OQAL Angel Syndicate, and a group of angel investors. 

Mantas founder Basil Mimi. (Supplied)

Founded in 2024 by Basil Mimi, Mantas combines cloud outage insurance with real-time risk monitoring, targeting digital-first businesses such as fintechs, airlines, e-commerce platforms, SaaS providers, and regulated enterprises. 

The company said the funds will support product development, risk modelling, and early customer deployments across MENA and North America. 

Juthor raises $500k pre-seed 

Saudi Arabia-based e-commerce startup Juthor has raised $500,000 in a pre-seed round led by Flat6Labs, with participation from angel investors. 

Juthor founders Lolwah Binsaedan and Irfan Khan. (Supplied)

Founded in 2025 by Lolwah Binsaedan and Irfan Khan, Juthor is building a cloud-based platform to help retailers manage sales across multiple online marketplaces through real-time stock synchronization and AI-driven customer insights. 

The company said the capital will be used to build scalable infrastructure and accelerate product development in Saudi Arabia and beyond. 

Yozo.ai secures $1.7 million pre-seed 

UAE-based e-commerce AI startup Yozo.ai has raised $1.7 million in pre-seed funding, with the round co-led by Access Bridge Ventures and Disruptech Ventures, with participation from Arzan VC, Oraseya Capital, and Plus VC, as well as Suhail Ventures, Glint Ventures, and M-Empire Angels. 

Founded in early 2025, Yozo builds an AI-native revenue engine designed to automate e-commerce growth and retention marketing. 

The company said the funding will support product development and international expansion beyond MENA. 

Abwaab operates a digital tutoring platform across Jordan, Egypt, and Pakistan. (Supplied)

Abwaab acquires Apex Education 

Jordan-based education tech platform Abwaab has acquired Egypt-based college admissions advisory Apex Education for an undisclosed amount. 

Founded in 2019, Apex Education provides personalized admissions guidance to students applying to leading global universities, while Abwaab operates a digital tutoring platform across Jordan, Egypt, and Pakistan. 

Abwaab said the acquisition strengthens its end-to-end offering, extending from tutoring through to international university admissions. 

Arabic.AI collaborates with Stanford University 

Arabic.AI has announced a collaboration with Stanford University’s Center for Research on Foundation Models to establish the first holistic benchmark for evaluating Arabic large language models. 

The initiative will extend Stanford’s HELM framework into Arabic, providing a transparent and reproducible reference for assessing model performance and risk. 

Arabic.AI said the collaboration supports its mission to advance Arabic-first AI models while contributing a public research asset for the wider AI and enterprise ecosystem.