RIYADH: Saudi Arabia’s venture capital and startup ecosystem kicked off 2025 with fresh funding rounds as the Kingdom continues its regional dominance.
Zension Technologies raised $30 million in a series A funding round led by Wa’ed Ventures, the venture capital arm of Saudi Aramco.
The round also saw participation from Japan’s Sumitomo Corporation and regional investor Global Ventures.
Founded in 2018 by Khalid Saiduddin and Nikos Anastasiadis, Zension provides protection, extended warranty, and guaranteed buyback services for mobile devices and consumer electronics.
These services are integrated into major retailers, telecommunications companies, and original equipment manufacturers operating in the Saudi and UAE markets.
With the fresh funding, Zension aims to launch its new service, Zaam, which is set to debut in the first quarter of the year across Saudi Arabia and the UAE.
SVC backs $150m tech fund by Global Ventures
Saudi Venture Capital has announced its investment in Global Ventures III, an early-stage fund exceeding $150 million in size.
Managed by UAE-based Global Ventures, it will focus on investments in technology and tech-enabled sectors across Saudi Arabia, the Middle East and North Africa, and Sub-Saharan Africa.
Target industries include supply chain technology, agritech, enterprise software as a service, and emerging technologies such as artificial intelligence and deep tech.
“Our investment in the venture capital fund by Global Ventures is part of SVC’s Investment in Funds Program, in alignment with our strategy to catalyze venture investments by fund managers investing in Saudi-based startups, especially during their early stages,” said Nabeel Koshak, CEO and board member at SVC.
The market opportunity continues to be immense, with emerging technologies across platforms being built by exceptional founders continuing to shine through.
Noor Sweid, founder and managing partner at Global Ventures
Noor Sweid, founder and managing partner at Global Ventures, emphasized the importance of the collaboration, saying: “We are proud of our deep and continued partnership with SVC, and the investment underscores our continued deep commitment to enabling and building the Saudi Arabian VC and startup ecosystem.
“The market opportunity continues to be immense, with emerging technologies across platforms being built by exceptional founders continuing to shine through.”
SVC, a subsidiary of SME Bank under Saudi Arabia’s National Development Fund, was established in 2018 to stimulate and sustain financing for startups and SMEs across their growth stages, from pre-seed to pre-initial public offering, through investments in funds and direct investments.
Interior design platform Revie raises $2.5m seed round
Saudi Arabia-based interior design and renovation platform Revie has raised $2.5 million in a seed funding round led by Sanabil Venture Studio by Stryber.
Established in 2024 by Ibrahim Abu Khadra, Revie provides an end-to-end solution for residential and commercial renovations.
The platform connects customers with vetted service providers and offers a seamless experience from design to execution. With the new funding, the company plans to invest in its technology and build a scalable foundation to support long-term growth.
Vreal secures pre-seed investment for AR/VR innovations
Saudi augmented and virtual reality technology provider Vreal has raised an undisclosed pre-seed investment round from the numu Angels Investment Community.
Founded in 2022, Vreal offers e-commerce businesses the ability to convert their products into 3D models in as little as 30 seconds using its advanced scanning technology.
The startup is exploring opportunities to expand its applications to other industries, including interior design, real estate, tourism, and heritage preservation. Vreal aims to strengthen its position in Saudi Arabia and tap into broader markets with its innovative technology.
MilkStraw AI raises $600k pre-seed funding to expand in MENA
UAE-headquartered artificial intelligence startup MilkStraw AI has raised $600,000 in pre-seed funding. The round was led by Flat6Labs, with participation from Angel Spark, Beyond Capital, and a group of angel investors.
MilkStraw, founded by Jawad Shreim in 2024 in the US, specializes in software solutions that automate and optimize cloud infrastructure costs for businesses.
The company intends to use the funding to expand its operations across the MENA region, focusing on providing cost-saving AI tools to enterprises in the region.
Mintiply Capital partners with Fuel Venture Capital for GCC-focused SPV
UAE-based Mintiply Capital, an advisory and investment banking firm specializing in mergers and acquisitions and alternative investments, has announced an exclusive partnership with US-based venture capital firm Fuel Venture Capital.
The collaboration aims to launch a Special Purpose Vehicle targeting high-potential early-stage startups across the Gulf Cooperation Council region, with a particular focus on the UAE.
This initiative is aligned with the UAE’s strategic goal of fostering a robust startup ecosystem and driving innovation as a key pillar of economic growth.
The SPV will provide targeted funding and resources to emerging startups, supporting the development of the UAE’s entrepreneurial ecosystem and promoting sustainable economic growth.
ReNile raises $450k for agritech solutions
Egypt-based agritech startup ReNile has secured $450,000 in funding from undisclosed investors.
Founded in 2017 by Hazem El-Tawab, ReNile offers a full-stack solution for farmers that includes monitoring systems, emergency alerts, control systems, and analytics to enhance farming practices.
The company’s platform supports data-driven farming, helping users implement best-practice models to improve efficiency and yield.
MSME lending in Saudi Arabia grows by 22.6 percent in Q3 2024
Credit facilities extended to micro, small, and medium enterprises in Saudi Arabia reached SR329.23 billion ($87.8 billion) in the third quarter of 2024, marking a 22.6 percent year-on-year increase, according to data from the Saudi Central Bank.
Of the total, 94.7 percent of loans were provided by Saudi banks, while finance companies contributed the remaining 5.3 percent.
MSME lending accounted for 9.1 percent of banks’ total loan portfolios and 18.8 percent of finance companies’ portfolios.
The Saudi government has set an ambitious target for financial institutions to allocate at least 20 percent of their lending portfolios to this critical sector, as part of its Vision 2030 strategy to foster economic diversification and support business growth.
Saudi Arabia tops MENA venture capital rankings for second year
Saudi Arabia retained its position as the leading destination for venture capital in the MENA region in 2024, raising $750 million, according to a report from regional venture platform MAGNiTT.
This marks the second consecutive year the Kingdom has led regional VC rankings. Saudi Arabia accounted for 40 percent of the total venture capital deployed in MENA, closing 178 deals — the most of any nation in the region.
While total venture capital raised in MENA declined 29 percent year-on-year to $1.9 billion in 2024, MAGNiTT noted that funding levels remained above pre-boom levels from 2020, indicating resilience in the ecosystem.
The Middle East alone accounted for $1.5 billion of this funding, spread across 461 deals, a 10 percent annual increase.
Investor participation in the region grew 14 percent to 392 investors, and the year saw 24 exits.
However, emerging venture markets — including the Middle East, Africa, and Southeast Asia, as well as Pakistan and Turkiye — faced a sharp slowdown, with total venture funding dropping 40 percent and deal volumes falling 20 percent compared to 2023.
Both metrics also fell below 2020 levels, reflecting broader challenges in the global venture landscape.
