Ukraine keen to cooperate with KSA in digitalization push: vice minister

Oleksandr Bornyakov, Ukraine’s vice minister of digital transformation, further noted that Saudi Arabia’s business-friendly environment for foreign investments is one of the main reasons behind his current tour of the Kingdom. (SPA)
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Updated 12 May 2024
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Ukraine keen to cooperate with KSA in digitalization push: vice minister

  • European nation’s growing prowess in technology could help Saudi Arabia in its digital transformation journey

RIYADH: Saudi Arabia’s technological landscape is set to get a boost as Ukraine has expressed its eagerness to cooperate with the Kingdom in multiple sectors including agri-tech, fintech, and cybersecurity. 

Speaking to Arab News during his visit to the Saudi capital, Oleksandr Bornyakov, Ukraine’s vice minister of digital transformation, said the European nation’s growing prowess in technology could help Saudi Arabia in its digital transformation journey. 

During his visit to the Kingdom, the vice minister held meetings with the officials of the Kingdom’s information and investment ministries and the General Authority of Small and Medium Enterprises also known as Monsha’at.

“My visit is kind of like exploring — breaking the ice. Since we are the policymaking body in Ukraine, we know everybody in Ukraine from the tech sector. We want to hear from the local government
about what kind of problems they face, and what kind of things they need, and then, decide what’s the best fit for fulfilling those. I think there’s an interest in bringing this expertise to Saudi Arabia,” said the vice minister. 

He added: “From an educational perspective we build a framework of how we teach people from school to university. So they become very talented engineers. We have expertise in almost every sector like healthcare, automotive, energy, and finance. And when countries like Saudi Arabia, trying to digitize any of these fields, I think we could be helpful.” 

He said that his visit to Riyadh seeks to establish a relationship on the government level, which will in turn help them to cooperate with private sector entities including startups in the future. 

During his visit to the Kingdom, the Ukrainian vice minister also presented several digital products to Saudi officials that can be used on the government-to-government level. 

The world is changing fast, and I can’t imagine my life without many digital things that I have become used to. So I think any country that wants to follow up on this and, be on the edge of the technology has to change and invest a lot in this.

Oleksandr Bornyakov, Ukraine’s vice minister of digital transformation

He said that Saudi Arabia is quickly developing, and there is enormous potential for technological firms in the Kingdom. 

Bornyakov added that Saudi Arabia should build an entrepreneurship culture in the Kingdom so that local talents in the country can leapfrog in the technological sector with innovations and products. 

“The world is changing fast, and I can’t imagine my life without many digital things that I have become used to. So I think any country that wants to follow up on this and, be on the edge of the technology has to change and invest a lot in this. Because, in the West, many great things happen. Even Google, it came from students,” the official said. 

He added: “I think, Gulf countries and Saudi Arabia in particular also want to have this, this entrepreneurship culture. And, we know how to teach people how to do that, and, be part of this. I think that’s why we have this mutual interest. And I feel that Saudi Arabia is open to that experience.” Bornyakov further noted that Saudi Arabia’s business-friendly environment for foreign investments is one of the main reasons behind his current tour of the Kingdom. 

“Here, there is an investment environment. You can easily come to create a business in one or two days, then open a bank account, and then you are good to go. So this is one of the reasons that we decided to do this tour and, figure out who’s doing what,” he added. 

The vice minister also lauded Saudi Arabia’s efforts to diversify its economy away from oil aligned with the goals outlined in Vision 2030. 

“I think diversifying is a good idea. It’s actually what’s happening in Ukraine. When I started in 2019, the contribution of the IT sector to the gross domestic product was 2.5-2.6 percent, and now it is close to 5 percent. As of today, 41 percent of all Ukrainian export services are IT. 

“I think it is also something interesting here. The energy sector might be strong, for how many years, we do not know,” he said. 

According to Bornyakov, Ukraine is also steadily reducing its dependence on grains and heavy machinery, and technological products from the IT sector are becoming major contributors to the nation’s economy. 

“Historically, Ukraine was what? Grain and heavy machinery. Unfortunately, due to war, we lost a lot of factories and heavy machinery. And because we thought about IT, even though, less than a decade ago, but still, the sector was evolving very fast. We now have a source of export revenue, which is almost $8 billion every year, and just maybe five years ago, it was $3 billion or $4 billion,” he added. 

HIGHLIGHT

Oleksandr Bornyakov’s visit to Riyadh seeks to establish a relationship on the government level, which will in turn help them to cooperate with private sector entities including startups in the future.

Bornyakov also talked about the success of Ukraine’s Diaa application which allows Ukrainians to use digital documents on their smartphones instead of physical ones for identification and sharing purposes, along with accessing over 130 government services.  

According to the vice minister, there are 20 million active Diaa users in Ukraine, and he claimed that no other government app in the world can boast about such a huge user database.  He also added that such applications have huge potential in the Gulf Cooperation Council region, which will reduce the hassles of paper passports and other government documents, as it allows people to carry everything on a smartphone. 

“We want to implement the vision of President Zelensky to build a country in smartphone. Then we created a government super app called Diaa. We started by putting all the papers of a citizen like driver’s license, car titles, insurance, diplomas, birth certificates, tax IDs, and passport, everything on the phone, so you don’t carry paper. So, we were the first country in the world to introduce digital passports,” said Bornyakov. 

He added: “There is a huge demand for such apps since Gulf countries have a union, GCC. And if you travel, and if you want to identify yourself, you will have to use different passports and different procedures. We have a solution to solve all of these problems.” 

According to the vice minister, Ukraine has opened a source code for these applications, which makes countries use these codes to develop applications as per their requirements. 

“Recently, we have opened source code, so you don’t have to pay us. So you can take this and we can showcase and you can use the source code to build, something that you own as this union (GCC), and use it for the sake of its people. And that is one of the things we are happy to share with the world,” he added. 


Accelerating growth boosts investor confidence

Updated 06 December 2025
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Accelerating growth boosts investor confidence

  • Startups attract fresh capital to scale AI, health tech, and infrastructure

RIYADH: Startups across the Middle East and North Africa are accelerating growth through strategic funding rounds, partnerships, and technological innovation. 

From agriculture tech and AI-led cybersecurity to digital health and home renovation, this week’s developments reflect the region’s expanding startup ecosystem and investor confidence across key verticals.  

Saudi agritech startup Nabt has raised $3.4 million in a seed extension round, bringing its total funding to $5 million.  

The round was led by SHG Group, with participation from Merak Capital and several angel investors, signaling strong investor confidence in the company’s long-term growth strategy.  

The funding announcement took place during a signing ceremony at the Sunbola program event under the Ministry of Environment, Water, and Agriculture.  

Founded to build both physical and digital infrastructure for the fresh-produce sector, Nabt connects farmers directly with commercial buyers through fulfillment centers that handle sorting, cold storage, and last-mile logistics.  

The company recently launched the Nabt Online Auction to support large-scale produce trading across the Kingdom, and Nabt Intel, which provides real-time pricing and market-demand data. 

CEO Abdullah Al-Otaibi said: “In just two years, Nabt has proven that building transparent and efficient infrastructure for fresh produce is not only possible but essential.”  

The new capital will support expansion into additional Saudi cities and further develop Nabt’s infrastructure and services to boost food security and farmer profitability across the country.   

COGNNA raises $9.2m 

COGNNA, a Saudi cybersecurity company founded in 2022, has closed a $9.2 million series A round led by Impact46 and co-led by BNVT Capital, with participation from Vision Ventures and Tali Ventures.  

The company offers AI-driven security operations tailored for enterprises and SMEs through its Agentic SOC platform.  

Combining AI automation with human oversight, COGNNA’s platform helps organizations simplify compliance and proactively defend against cyber threats. 

Chief Technology Officer Ziyad Al-Sheri stated: “Through our AI-led platform, we are building an Agentic SOC that doesn’t just respond to threats — it anticipates them.”  

The funding will be used to accelerate global expansion, enhance R&D in AI automation, and scale operational teams and infrastructure to meet growing demand. 

The company plans to allocate capital across product development, marketing, hiring, and international operations.  

Funch raises $500k 

Funch, a Dubai-based AI-native lunch subscription startup, has secured $500,000 in a pre-seed round led by Angelspark, with participation from investors including Mostafa Kandil, Mahesh Murthy, and Tushar F.  

Founded in 2025 by Ahmad Joehnny and Ghada Zanaty, the platform offers flexible, credit-based lunch subscriptions for 19 Emirati dirhams per day with no delivery fees. 

Founded in 2025 by Ahmad Joehnny and Ghada Zanaty, Funch offers flexible, credit-based lunch subscriptions with no delivery fees. (Supplied)

Funch replaces traditional meal plans with a system where users can pause, skip, or cancel orders while using credits only when meals are delivered.

“Our model is built around pre-planned orders, enabling us to operate with higher efficiency, reduce waste, and cut emissions with fewer trips,” said co-founder and chief operating officer Ghada Zanaty.  

The company leverages AI to forecast demand, optimize routes, rotate menus, and streamline logistics, and will use the funding to scale across Dubai and develop its AI systems further. 

Paymob teams up with Robusta 

Egyptian fintech Paymob and software development firm Robusta Technology Group have announced a strategic partnership to accelerate digital transformation across Egypt and the wider region.  

The collaboration will integrate Paymob’s digital payments infrastructure with Robusta’s AI-driven product development and analytics capabilities.  

The joint initiative aims to deliver intelligent digital experiences for SMEs and enterprises, supporting Egypt’s Vision 2030 goals. 

Both companies plan to expand regionally and develop future offerings combining automation, analytics, and seamless payment systems to improve operational efficiency for merchants and startups.  

Reno raises $4m

UAE-based renovation technology platform Reno has raised $4 million in a mix of equity and debt funding.  

The round included investments from Sanabil 500, Hub71, and Plus VC, as well as Zero 100 VC, FlyerOne Ventures,  and Sandstorm VC. AngelSpark and Swiss Founders Fund also invested.

Founded in 2024 by Marc Michel, Amr Hosny, and Farah Karabeg, Reno offers a tech-enabled, end-to-end solution for interior design and renovation services in both residential and commercial sectors.  

Reno aims to streamline the renovation process through a unified digital platform, allowing customers to manage projects from planning through execution.  

The company plans to use the new capital to expand across the GCC region, enhance its technological infrastructure, and further develop its customer experience. 

Glenwood PE and Mubadala invest in Korean desalination firm NanoH2O

Glenwood Private Equity and Abu Dhabi’s Mubadala Investment Company, along with co-investors, have completed a co-investment in NanoH2O, a Seoul-based reverse osmosis membrane manufacturer previously operating as LG Water Solutions under LG Chem.  

All closing conditions and regulatory approvals for the investment have been fulfilled.  

NanoH2O, which became an independent entity in 2024, supplies desalination and brackish water treatment solutions to municipal and industrial clients worldwide. More than 95 percent of its revenue is generated outside South Korea. 

“We have strong conviction in NanoH2O’s technology leadership and long-term growth potential,” said Mohamed Al-Badr, head of Asia at Mubadala.  

The firm aims to support NanoH2O’s global expansion, particularly in the MENA region, amid growing concerns over water security and decarbonization.