Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Fitting, a Saudi construction-tech startup, has raised $500,000 in pre-seed funding to digitize the Kingdom’s construction supply chain. The company will scale operations, strengthen partnerships, and position itself as a key enabler of Vision 2030 projects by connecting suppliers, developers, and retailers through its digital marketplace.
STV has closed its US$100 million STV NICE Fund I, a non-dilutive capital fund aimed at supporting Saudi Arabia’s tech startups. The fund offers Sharia-compliant financing, allowing growth-stage companies to scale without equity dilution. Backed by public-private partnerships, it aligns with Saudi Arabia’s Vision 2030 economic diversification efforts.
Flat6Labs has invested in 10 Saudi startups as part of the fourth Riyadh Seed Program, focusing on diverse sectors such as e-commerce, logistics, and cybersecurity. These startups benefit from a four-month acceleration initiative, cash investment, and tailored support to scale their operations, positioning them for growth in Saudi Arabia and beyond.