Saudi startup ecosystem takes a giant LEAP

Several new venture capital funds were set to launch, it was announced during LEAP 2024, Kingdom’s highly attended startup and technology event. (Supplied)
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Updated 09 March 2024
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Saudi startup ecosystem takes a giant LEAP

  • Investcorp’s $500m fund will support growth-stage ventures in Kingdom

RIYADH: Saudi Arabia’s entrepreneurship scene witnessed a transformative surge in investment activity at LEAP 2024 – the Kingdom’s highly-attended startup and technology event.

Several new venture capital funds are set to launch, it was announced at the Riyadh-based gathering, aiming to energize various sectors within Saudi Arabia and the broader Middle East and North Africa region.  

Investcorp is spearheading this initiative with a $500 million fund dedicated to supporting growth-stage ventures in Saudi Arabia, bolstered by a $35 million investment from Saudi Venture Capital.  

Concurrently, Oasis Capital is preparing to introduce a $100 million fund focusing on early-stage international ventures. 

In the gaming and esports sector, the Saudi Esports Federation, in collaboration with the Social Development Bank and the National Technology Development Program, will unveil two funds under its Gaming and Esports Sector Financing Program.  

Furthermore, Saudi venture capital firms Merak Capital and Impact46 announced $80 million and $40 million funds, respectively. 

Plug and Play Tech Center is also entering the scene with a pioneering $50 million fund aimed at nurturing software and tech ventures in Saudi Arabia and the MENA region.  

Meanwhile, Takamol Ventures announced a $53 million venture capital fund at LEAP, targeting early-stage tech companies to fuel innovation. 

Fahad Al-Hussain, partner at US-based Seedford Partners, announced during a panel session that the firm is planning to launch a $100 million to $150 million space fund targeting international and local ventures in the sector. 

Moreover, Bahrain-based investment management firm Arcapita Capital closed its $500 million Saudi Logistics Fund III. 

Lastly, Unifonic is set to launch a $15 million fund focusing on software as a service and business-to-business startups in MENA, Pakistan, and Turkiye, signifying a broadening of investment horizons across the region.

Saudi Arabia’s Salla raises $130m pre-IPO round

Saudi Arabia’s SaaS sector is receiving a significant boost as Salla secured a $130 million pre-initial public offering investment by Investcorp and saw participation from Sanabil Investment and STV. 

Established in 2016 by Nawaf Hariri and Salman Butt, Salla has been at the forefront of empowering merchants by enabling them to establish their e-commerce online shops swiftly, often within hours.  

The funding was channeled through the Investcorp Saudi Pre-IPO Growth Fund LP, a strategic initiative designed to infuse equity growth capital into a diverse portfolio of companies primarily located in Saudi Arabia.  

“This investment propels us forward in our ongoing mission to open opportunities and empower individuals, SMEs, and enterprises to start and expand their businesses both within and beyond Saudi Arabia. We are committed to delivering innovative, customer-centric solutions that simplify and enhance the e-commerce experience for our merchants,” Hariri said.

UAE’s HRtech RemotePass closes $5.5m in a series A round

UAE-based HRtech startup RemotePass has successfully closed a $5.5 million series A funding round, with 212 VC leading the investment.  

The round also saw contributions from an array of prominent investors including Endeavor Catalyst, Khwarizmi Ventures, and Oraseya Capital, as well as Flyer One Ventures, Access Bridge Ventures, A15, and the Swiss Founders Fund. 

Founded in 2020 by Kamal Reggad and Karim Nadi, RemotePass specializes in offering businesses the ability to seamlessly onboard, manage, and compensate their workforce, particularly in regions where they may not have a local legal entity.  

Following its undisclosed pre-series A round in 2021, led by BECO Capital and supported by Wamda, Khawarizmi VC, and Flat6Labs, as well as Wealth Well, and a syndicate of Saudi investors, RemotePass is setting its sights on the Kingdom’s market.  

Saudi-based proptech Buildnow closes $9.4m seed funding

Saudi Arabia’s Buildnow secured $9.4 million in seed funding, comprising both equity, amounting to $6.5 million, and debt, totaling $2.9 million.  

Raed Ventures and Khwarizmi Ventures took the lead in this funding round, which also saw significant participation from international venture capitalists and influential local angel investors, including Abdulla Elyas, the co-founder of Careem. 

SPEEDREAD

• Oasis Capital is preparing to introduce a $100 million fund focusing on early-stage international ventures.

• In the gaming and esports sector, the Saudi Esports Federation will unveil two funds under its Gaming and Esports Sector Financing Program.

• Saudi venture capital firms Merak Capital and Impact46 announced $80 million and $40 million funds, respectively.

• Plug and Play Tech Center is also entering the scene with a pioneering $50 million fund aimed at nurturing software and tech ventures in the region.

• Takamol Ventures announced a $53 million venture capital fund at LEAP, targeting early-stage tech companies to fuel innovation.

Launched in 2022 by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh, Buildnow introduces a build-now-pay-later model that significantly benefits the construction industry.  

The platform facilitates material procurement on credit for buyers, simultaneously ensuring upfront cash payments to SME suppliers, thus streamlining the supply chain and financial operations in the construction sector. 

The fresh influx of capital is set to catalyze Buildnow’s growth trajectory. The funds are earmarked for attracting and hiring top-tier global talent to bolster the Buildnow team, positioning the startup for expansion.

Saudi-based BRKZ secures $8m series A round

Saudi Arabia’s BRKZ has secured an $8 million series A co-led by 9900 and BECO Capital, with participation from Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures.  

Founded in 2022 by Ibrahim Manna, BRKZ is a B2B contech that provides a large selection of suppliers and materials through its platform, as well as multiple delivery and payment options. 

BRKZ will use the new funding to expand its footprint across Saudi Arabia and beyond.

Saudi fintech startup Rabeh Financial closed $800k seed round 

Saudi fintech Rabeh Financial closed a $800,000 seed investment round in collaboration with Mjalis Investment Co. and several angel investors, bringing the company’s valuation to $8 million. 

Founded in 2022 by Mohammed Al-Salmi and a group of advisors, Rabeh Financial aims to improve the experience of trading ownership and knowledge by allowing investors and entrepreneurs to discuss and assess investment ideas using AI and data analysis technology. 

With the new funds, Rabeh plans to increase its presence both inside and outside of the Kingdom.

KSA’s RasMal acquires Pentugram 

Saudi Arabia’s equity management platform RasMal has acquired UAE’s Pentugram to expand its offering into private capital investment management solutions, for an undisclosed value. 

Through the acquisition, Pentugram’s clientele will gain access to RasMal’s services, while RasMal will leverage the platform to provide investors and fund managers with solutions.

KSA’s Zetta Technologies raises $1.5m  

Saudi Arabia’s Zetta Technologies closed a $1.5 million pre-seed funding round from CoreVision. 

The company offers tech services as a subscription with a flexible payment plan, enabling large organizations and companies to benefit from their devices.


Mapping Saudi soils to grow better crops

Updated 19 December 2025
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Mapping Saudi soils to grow better crops

  • Palm trees, root crops, and coastal plants reveal the land’s story

RIYADH: Saudi Arabia’s land tells stories written beneath the feet. From fertile plains and rugged highlands to vast deserts, the Kingdom’s diverse landscapes shape what can grow, where it grows, and how agriculture can thrive.

Alongside geography and climate, soil conditions play a decisive role in agricultural success. Understanding soil types across the Kingdom helps determine which crops can flourish and what interventions may be needed to sustain them.

In an interview with Arab News, Turki Almutairi, a senior environmental specialist at the National Afforestation Center under the National Center for Vegetation Cover Development and Combating Desertification, outlined the main soil types found across Saudi Arabia.

High amount of salt makes the soil unfit for the production of most crops, even if the soil is fertile. (Supplied)

“The dominant soil in the Kingdom are sandy desert soils, alongside calcareous soils in the central region. Rocky and stony soils are present along mountainous and hilly landscapes,” he said.

“Alluvial soils are common in wadies (valleys), while saline and sodic soils are located in depressions (Sabkhas) and along coastlines. Pockets of clayed soils can be also found around few sites along the Kingdom.”

The Kingdom’s vast territory gives rise to unique soil characteristics in each region, enabling different crops to grow depending on local conditions.

“Soil is the growing medium for plants. The role of soil includes structural stabilization, providing nutrients and a communication medium for plants,” Basil Nasir, soil lead at engineering consultancy William Sale Partnership, told Arab News.

Basil Nasir, soil lead at the engineering consultant company, William Sale Partnership (WSP). (Supplied)

According to Nasir, assessing soil use is essential before determining whether it is fertile or infertile, as different soils support different plant types.

“The soil used for trees differs from the soil used for ornamental plants and from the soil used for aquatic plants. It varies according to the specific needs of each plant, and based on this, we determine what the soil requires and assess its fertility,” he said.

Nasir explained that soil characteristics are shaped by both physical and chemical components. In addition to water and air, mineral particles such as sand, silt and clay are key indicators of soil health. Organic matter, derived from plant and animal remains, forms the fourth major component.

The balance between these elements determines soil behavior. One important physical trait is water-holding capacity, which influences what types of plants a soil can support.

 

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“If the soil is like dunes, adding water will cause it to run off, but if the soil is clay, its ability to retain water will be very high. If you add water and return the next day, you will find that the water is still there,” said Nasir.

Chemical properties, such as whether soil is alkaline or acidic, are equally important. Understanding both physical and chemical traits allows for proper assessment and treatment when needed.

“What determines whether a plant is suitable for a particular environment is primarily the plant's nature. For example, some plants have fibrous roots and therefore do not require well-draining soil,” Nasir added.

“A palm tree, for example, does not care whether it was planted in one soil or the other because its roots are fibrous. Therefore, palm trees are strong plants and are suitable to grow in both dry and wetlands, while preferring sandy areas.”

Soil Salinity can be treated through Soil leaching which means washing the soil with certain amount of water to reduce the salt in it. (Supplied)

Crops such as potatoes, onions, carrots and beetroots — where the edible part grows underground — typically thrive in sandy soils. As a result, plantations of these crops are commonly found in northern regions such as Hail and in Wadi Ad-Dawasir.

In the eastern region, including Al-Ahsa, wetlands are more common due to climatic conditions. Growing plants in such environments often requires human intervention.

“Plants that are coastal or could be found in lagoons or lakes must have some sort of soil around them, like lotus flowers and mangrove trees.”

“An important parameter to keep in mind is that there is no air in its soil, and they are adapted to this condition. However, the lack of air, along with the presence of organic matter, will create a situation where anaerobic bacteria react with the soil, potentially causing diseases we can easily avoid,” said Nasir.

He emphasized that removing organic matter from such soils is essential to ensure plant survival in aquatic environments.

Mountainous and rocky regions in Saudi Arabia are generally volcanic, resulting in low water-holding capacity and challenging growing conditions. However, volcanic ash contributes to high fertility, allowing certain crops to flourish.

As a result, western regions support tree crops such as coffee, mangoes, some banana varieties and pomegranates.

There are various types of soils such as clay, sandy, silty and loamy. Each type provides excellent conditions for specific plants. (Supplied)

As development accelerates across the Kingdom, soil improvement efforts are expanding under the National Greening Program.

“Soil is considered fundamental for the National Greening Program’s objectives. Understanding the soil variability along the Kingdom is a precondition for fostering sustainable soil management,” Almutairi told Arab News.

Adding, “In this line, the NGP is working towards the establishment of the Saudi Soil Information System (TURBA-KSA), which consists of mapping soils and its functional properties in the Kingdom using state-of-the-art technology.”

He also noted the creation of the “Land Rehabilitation Watch” to report, verify and monitor land rehabilitation nationwide.

“This milestone allows the Kingdom to understand how soil and land health are progressing against national and international targets of land degradation neutrality. Documenting good soil and land management practices is also important, so that those successful practices could be scaled up along the Kingdom, which is a priority task for NGP,” he said.

Raising public awareness is another key pillar of the program.

“Assessing different emerging technologies and soil amendments is a daily activity of NGP, as it then provides technical support to partners on the selection and application of these technologies.”

DID YOU KNOW?

• Saudi Arabia cultivates around 1 million hectares, mainly in Riyadh, Qassim, Hail, and Jouf.

• Farming follows the seasons: winter brings onions, garlic, and carrots, while summer yields watermelon, tomatoes, and cucumbers.

• The Kingdom is a top date producer, with over 31 million palm trees generating nearly 1.54 million tons, especially in Riyadh and Qassim.

Almutairi stressed that soil is often overlooked because it lies unseen beneath the surface, despite its critical role.

Yet soil produces 95 percent of food, stores water, holds more carbon than vegetation and the atmosphere, suppresses contaminants, regulates water, carbon and nutrient cycles, and hosts microorganisms linked to the human microbiome.

He emphasized the need to engage the general public, particularly urban communities disconnected from nature. Education helps people understand where food comes from and how contact with soil — such as walking barefoot — can support well-being. Healthy soils also contribute to cleaner water and air, he added.

Almutairi also called for stronger advocacy among decision-makers, noting that investment in healthy soils supports climate action, food security and sustainable development.

He concluded that key strategies include officially observing UN World Soil Day on Dec. 5, integrating soil education into curricula, launching annual social media campaigns, using art to raise awareness, and organizing public events that connect soils to everyday life.