STV

Venture capitalIn Saudi Arabia

STV is a venture capital firm based in Riyadh, founded in 2018 with backing from stc and operating independently of it. It invests in tech companies in the Middle East and North Africa from founding to growth. Its portfolio includes Tabby, Foodics and Salla.

About STV

STV launched with $500 million in capital from the Saudi Telecom Company (stc), to be run independently of it, and is led by its founder and CEO Abdulrahman Tarabzouni. In 2023 it launched the STV Total Growth platform with initial commitments of more than $150 million, anchored by the National Technology Development Program, including a Sharia-compliant venture debt instrument called “Tanami”. In 2025 it launched a $100 million AI fund backed by Google that invests in early-stage startups.

For clarity

Launched by stc in 2017 with $500 million in capital, to operate independently. We found no source confirming that stc's institutional investment arm was merged into STV. stc's institutional arm is currently Tali Ventures (launched 2024), which is a separate entity. Google has not disclosed the size of its contribution to the AI fund ($100 million, 2025).

What it invests in

Stages
Seed, Series A, Series B, Growth
Sectors
All sectors
Fund size (Committed capital (approximate))
$1B (2023) Source
Among the fund’s investors
stc, National Technology Development Program (Total Growth), Google (AI Fund)

From its portfolio

Tabby

FintechVerified ✓

A buy now, pay later app: shoppers split purchases into interest-free installments, and merchants get paid in full up front.

Stage
Growth
Raised
$814M
Founded
2019
City
Riyadh

Nana

E-commerceDelivery and logisticsFoodVerified ✓

A grocery and everyday-orders delivery app in Saudi Arabia that started with supermarket shopping, then moved to warehouses inside neighborhoods

Stage
Series C
Raised
$207M
Founded
2016
City
Riyadh

Foodics

SaaSRestaurants and retailFintechVerified ✓

A cloud-based restaurant management system: POS, inventory, kitchen, orders, payments and financing on one platform.

Stage
Series C
Raised
$198M
Founded
2014
City
Riyadh

Floward

E-commerceDelivery and logisticsVerified ✓

A platform for delivering flowers and gifts across the Gulf, with in-house arranging and a refrigerated delivery fleet

Stage
Series C
Raised
$186.3M
Founded
2017
City
Riyadh

TruKKer

Delivery and logisticsVerified ✓

A digital platform for trucking freight that connects companies with truck owners in the Gulf and the region

Stage
Series C
Raised
$170.4M
Founded
2016
City
Riyadh

Unifonic

SaaSCommunicationsAIVerified ✓

A Saudi platform for companies to reach their customers through messages, WhatsApp, calls, verification codes and AI agents

Stage
Series B
Raised
$146M
Founded
2006
City
Riyadh

Salla

E-commerceSaaSVerified ✓

A Saudi platform for building online stores in Arabic with no coding, for individual merchants and companies.

Stage
Pre-IPO
Raised
$138.5M
Founded
2016
City
Makkah

Sary

E-commerceFintechVerified ✓

A B2B online marketplace connecting grocery stores and restaurants with wholesalers, with a pay-later option

Stage
Series C
Raised
$112.1M
Founded
2018
City
Riyadh

Calo

FoodHealthVerified ✓

Healthy meal subscriptions with calories and protein calculated for each customer's goal, cooked and delivered daily

Stage
Series B
Raised
$90.5M
Founded
2019
City
Riyadh

Noon Academy

EdtechVerified ✓

A social learning platform for school students that combines live classes, group study, and preparation for the Qudurat and Tahsili exams

Stage
Series B
Raised
$62.4M
Founded
2013
City
Riyadh

Mrsool

Delivery and logisticsVerified ✓

A Saudi delivery app where you order anything from any store, and couriers bid with delivery price quotes

Stage
Pre-IPO
Raised
Undisclosed
Founded
2015
City
Riyadh
Careem

Team

  • Abdulrahman TarabzouniFounder & CEO
  • Ahmad AlNaimiGeneral Partner
  • Mazin AlzaidiGeneral Partner
  • Ihsan JawadGeneral Partner
  • Luca BarbiGeneral Partner & COO