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  • Saudi Arabia Seeks $80 Billion Investments in Push for More Tourists

    Saudi is counting on the middle-class population in India and China to boost international tourism numbers and sees the UK as an appealing market, according to Khateeb, the minister. France and Germany are also interesting prospects, though destinations requiring longer-haul flights of more than eight hours remain challenging, he said.

  • Saudi Arabia unlocks multi-billion dollar investments as part of its wider drive to become a global tourism powerhouse

    A notable aspect of the initiative is its focus on benefiting local communities across tourism destinations. By localizing services such as contracting, design, and consulting, the program aims to create a direct positive impact on various sectors. This approach, coupled with over $800 billion invested to transform the tourism landscape, underscores Saudi Arabia's commitment to enhancing industry standards and providing lucrative opportunities for investors.

  • Saudi Arabia’s Salla raises $130 million pre-IPO investment

    Investcorp, a leading global alternative investment firm, today announced it has led a $130 million pre-IPO investment round in Salla, a leading SaaS e-commerce enablement platform in Saudi Arabia. The investment was made alongside Sanabil Investment, a wholly owned company by Saudi Arabia’s Public Investment Fund. STV, a regional venture capital investor and an existing shareholder of Salla, also participated in the transaction.

  • Saudi-based Deep-Tech VC Fund Beta Lab makes strategic investment in Cross-Border fintech startup EximPe

    EximPe, a Singapore headquartered company which previously raised seed round led by Singapore based Leo Capital , leverages technology and AI / ML to revolutionize cross-border payments and trade financing for SMEs. Its tech platform is powered by the likes of DBS, SBM, and 30+ other banks and fintechs.

  • Saudi Arabia sees over $11.9B tech investments on first day of LEAP 2024

    Amazon Web Services will invest $5.3 billion in the Kingdom to create a high-capacity cloud region, the ministry said on its official X account. Data Vault will invest $5 billion to build sustainable and innovative data centers, with a capacity of more than 300 megawatts, it further added. In addition, ServiceNow will invest $500 million to launch its first data center in the region in Saudi Arabia to localize its services, in addition to training national talents and developing their skills

  • Saudi Seeks $80 Billion in Investments in Push for More Tourists

    Saudi Arabia is seeking to attract as much as $80 billion in private investment into the tourism industry as the kingdom looks to share the financial burden of plans to become one of the world’s most visited destinations. “I want the private sector to represent the majority of investment,” Tourism Minister Ahmed Al Khateeb said in an interview in Riyadh on Sunday, adding that the goal is to raise $60 billion to $80 billion by 2030. “This is a very ambitious target.”

  • Saudi PIF, Bahrain’s Mumtalakat to boost cooperation, investment

    The sovereign wealth funds of Saudi Arabia and Bahrain have signed a memorandum of understanding (MoU) to boost cooperation and investment in strategic sectors, Saudi state TV reported. Saudi Arabia's PIF said the MoU will enhance its investment opportunities in Bahrain and will provide others for the private sector in the two countries, Tuesday's TV report added.

  • Saudi-based Deep-Tech VC Fund Beta Lab makes strategic investment in Cross-Border fintech startup EximPe

    Beta Lab, a leading Saudi venture capital firm specializing in deep tech innovations, is excited to announce its recent strategic investment in EximPe, marking a significant expansion into the MENA region. This collaboration aligns with Beta Lab’s mission to disrupt traditional sectors through deep tech and supports our commitment to fostering innovative solutions that simplify complex challenges. The funding will be utilized to further Eximpe’s mission of using technology to simplify cross-border transactions and expand its reach with SMEs.

  • UiPath Announces Investments in Saudi Arabia, Including First Saudi School of Automation and New Office Location in Riyadh

    UiPath, a leading enterprise automation and AI software company, today announced at LEAP 2024 its commitment to supporting digital transformation and workforce upskilling via modern AI and automation technologies in Saudi Arabia with new investments in the Kingdom. The UiPath Business Automation Platform connects people, technology, and processes in one integrated platform to further human achievement, advance innovation, and create more efficient ways of working.

  • Exclusive: Prince Khaled bin Alwaleed reveals new investments in fusion technology and DTC startups, urges more VC funding for sustainability tech

    “What inspires a lot of confidence in me is founders that know their market, their competition, their numbers,” he added. Prince Khaled stressed the significance of a robust understanding of the market, competition and financial metrics. Founders who demonstrate a deep knowledge of these aspects inspire confidence and are more likely to secure KBW Ventures’ backing. One company that impressed Prince Khaled was —A Dozen Cousins, a natural food brand specialising in authentic Creole, Caribbean and Latino-inspired dishes, founded by CEO Ibraheem Basir. The company’s brand narrative is influenced by Basir’s childhood spent in the culinary melting pot of Brooklyn and is named after his daughter and her 11 cousins. Basir met Prince Khaled at InFlavour, a leading B2B food event hosted by Tahaluf in partnership with the Saudi Ministry of Environment, Water and Agriculture (MEWA). A Dozen Cousins won in the conference’s startup competition, with Prince Khaled participating as a judge.