VC Firm Backed By Saudi Sovereign Wealth Fund Leads $20M In Foodtech Startup Foodics “Foodics, a Saudi Arabian food and beverage technology firm, announced that it has secured US$20 million in a series B round led by Sanabil Investments, which is wholly owned by Saudi Arabia’s sovereign wealth fund Public Investment Fund,” reported Bloomberg.
Saudi Fintech Hakbah Launches Savings Groups Platform after Receiving Regulatory Approval, Partners with Visa to Issue Prepaid Cards The users can pay their installments when they join a group by using their (Mada) debit card on the app and withdraw the money to their bank account whenever it’s their turn to receive the pool.
Saudi Food Delivery Startup Jahez Raises $36 Million in Country’s Largest VC Deal Jahez’s food delivery platform offers complete delivery solutions (with the help of freelance couriers) to its restaurant partners in over 20 cities of the Kingdom, competing with the likes of Delivery Hero’s HungerStation, Careem Now, and many other local players.
Munjz, A Saudi-based App for Home Maintenance Services, Raises Pre-Series A Funding Round Munjz provides different kinds of home and facility services through their mobile application to provide smart, reliable, and convenient solutions for their users through skilled and pre-scanned technicians and handymen.
Data science startup Quant secures $1.2M in pre-series A funding This round will enable Quant to strengthen its operational capabilities, particularly in the fields of research and development, create data and artificial intelligence-based products and solutions, expand its presence in the Kingdom and enter new markets.