Wa'ed Ventures is the local venture capital arm of Saudi Aramco, founded in 2013. It invests in tech startups from seed to Series C. Its portfolio includes Rewaa, Noon Academy, Zid and Lucidya.
About Wa'ed Ventures
Wa'ed Ventures is the local investment program within Aramco Ventures. It invests in Saudi startups and in international companies that commit to expanding in the Kingdom. It says it has more than 100 companies in its portfolio and more than $320 million invested, and it focuses on deep tech, AI, fintech and space tech. It led Rewaa's Series A round in 2023 and co-led Noon Academy's Series B.
Wholly owned by Aramco and part of Aramco Ventures (see aramco-ventures). The city is taken from Aramco Ventures' headquarters in Dhahran.
What it invests in
- Stages
- Seed, Series A, Series B, Growth
- Sectors
- AI, Fintech, Deep tech
- Among the fund’s investors
- Aramco
From its portfolio
Rewaa
A cloud system for shops and restaurants that puts the POS, inventory, accounting and e-invoicing on one screen
- Stage
- Series B
- Raised
- $72M
- Founded
- 2018
- City
- Riyadh
Noon Academy
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
Zid
A Saudi commerce platform that lets a merchant run their online store, sales channels and physical branch from one dashboard.
- Stage
- Series B
- Raised
- $59M
- Founded
- 2017
- City
- Riyadh
Lucidya
A Saudi AI-powered customer experience management platform that analyzes Arabic content across its dialects
- Stage
- Series B
- Raised
- $37.1M
- Founded
- 2016
- City
- Riyadh
Team
- Anas AlgahtaniCEO