Al Menu Secures 38M SAR to Transform Saudi Restaurant Industry

Al Menu Secures 38M SAR to Transform Saudi Restaurant Industry

Al Menu, a Saudi company specializing in restaurant operational solutions, raised 38 million Saudi Riyals (USD 10.3 million) in a recent funding round led by Al Majdiah Investment. The company will use this funding to expand and cement its position in Saudi Arabia’s fast-growing hospitality sector.

Aligning with Vision 2030

This investment aligns with Vision 2030, the Kingdom’s strategic plan to diversify its economy. The initiative focuses on strengthening non-oil sectors, including hospitality. With the newly raised capital, Al Menu plans to streamline restaurant operations by offering advanced tools that lower costs and improve workforce efficiency.

Driving Efficiency in Restaurant Operations

Al Menu’s CEO, Mamdoh Ali, expressed the company’s mission to deliver scalable and efficient solutions. These tools are designed to help restaurants reduce costs and enhance operational management. As a result, this will positively affect the hospitality industry, which is a key part of Saudi Arabia’s economic transformation.

Supporting Vision 2030 Goals

Nasser Al Majid, CEO of Al Majdiah Investment, highlighted that this investment supports Vision 2030’s focus on hospitality. By improving operational efficiency, Al Menu contributes to making Saudi Arabia’s restaurant industry more attractive to investors.

In conclusion, Al Menu’s innovative solutions will help the company play a significant role in shaping the future of Saudi Arabia’s restaurant industry. As the sector grows, the company’s approach will likely attract more investment, driving both economic growth and the realization of Vision 2030.

Quantum Adtech Startup Secures Funding in $7M Pre-Series-A

Quantum Adtech Startup Secures Funding in $7M Pre-Series-A

Saudi Arabia-based adtech platform Quantum has secured funding as part of its $7 million Pre-Series-A round. HearstLab, the investment arm of Hearst Corporation, led the round. This investment marks HearstLab’s first venture in the Middle East, highlighting the region’s growing tech ecosystem.

Quantum’s Innovative Platform

Founded in 2020 by Omar Malaikah and Sara Bin Ladin, Quantum provides a platform that connects advertisers with publishers. It allows advertisers to select publishers and purchase ad space directly. The platform also offers advanced data analytics and ROI metrics to optimize campaign performance. Quantum fills a critical gap in the Middle Eastern market, helping advertisers reach their target audiences effectively.

A Milestone Investment for Saudi Arabia’s Tech Sector

This recent funding from HearstLab strengthens Quantum’s position as a leader in the adtech industry. It also highlights the rapid growth of Saudi Arabia’s tech industry in line with Vision 2030. In addition to HearstLab, Quantum has attracted support from global investors like 500 Global, Vision Ventures, Sukna Ventures, and Tech Invest Com.

This investment showcases Saudi Arabia’s role as a growing hub for technology. Quantum’s founders are driving digital transformation and helping advertisers maximize their digital efforts in a critical e-commerce era.

Strategic Alliance with HearstLab

HearstLab’s partnership with Quantum goes beyond funding. Quantum will gain access to HearstLab’s expertise in media, fintech, and analytics. The company will also benefit from Hearst’s extensive global network. Sara Bin Ladin, Quantum’s CTO, sees this as a strategic alliance that will boost Quantum’s capabilities and visibility.

Omar Malaikah, Quantum’s CEO, expressed pride in being part of Saudi Arabia’s push for technological advancement. He believes this investment underscores the country’s potential as a tech innovation hub.

Expanding HearstLab’s Global Reach

HearstLab has a proven track record in supporting women-led startups. Since 2015, it has invested in over 70 companies globally, with a collective value of over $2.5 billion. Quantum is HearstLab’s entry into the Gulf Cooperation Council (GCC) region, expanding its global reach and supporting innovation in the Middle East.

Quantum: Driving Innovation in the Middle East

Quantum’s technology connects advertisers and publishers, offering solutions that enhance digital advertising. As Saudi Arabia’s digital ecosystem grows, Quantum is set to become a key player in reshaping the advertising landscape. Its focus on data analytics and innovation positions it as a leader in the region’s adtech industry.

Syarah Raises $60 Million in Latest Funding Round in KSA

Syarah Raises $60 Million in Latest Funding Round in KSA

Syarah, a leading autotech platform based in Saudi Arabia, has successfully raised $60 million in a Series C funding round. This significant investment was led by Artal Capital, with notable participation from Elm, Impact46, Tawuniya Insurance, Derayah Ventures, and Yousef Alrasheedi, founder of Haraj. With this round, Syarah’s total funding has now surpassed $82 million.

Company Background and Expansion

Founded in 2015 by Salah Sharef and Fayez Al-Anazi, Syarah has transformed the car buying experience. Initially focusing on new cars, the platform allows customers to purchase vehicles online and have them delivered directly to their doorsteps. In 2019, Syarah expanded its services to include used cars. Customers now benefit from a free car inspection report, a five-day money-back guarantee, and a one-year warranty. These features have significantly enhanced the buying experience.

Use of Funds and Future Growth

The recent funding round, which also included a $20 million venture debt facility from PFG, will be used to accelerate Syarah’s growth. This capital will support the company’s plans to solidify its leadership in the Saudi used car market. Since its inception, Syarah has grown rapidly, now selling over 12,000 cars annually.

Statements from Key Figures

Salah Sharef, CEO and Co-Founder of Syarah, commented on the investment:

“We are thrilled to have the backing of such esteemed investors led by Artal Capital. This funding will enhance our value proposition in the used car market. Our success in sourcing, inspecting, reconditioning, and selling cars online has set new industry standards. With this investment, we aim to expand our reach and further improve our services.”

Rayan Alrasheed, CEO of Artal Capital, highlighted the strategic fit of the investment:

“Syarah’s innovative approach to the used car market aligns perfectly with our investment strategy. We see tremendous potential in their business model and believe our investment will help Syarah reach new heights. This funding round underscores our commitment to supporting tech-enabled companies that drive economic growth and create value in Saudi Arabia and the GCC region.”

Wassim Moukahhal, Head of Alternative Investments at Artal Capital, added:

“We are excited to support Syarah in this next growth phase. Their ability to blend technology with traditional car sales has improved efficiency and enhanced customer satisfaction. We look forward to seeing Syarah continue to innovate and lead the market.”

Conclusion

In summary, Syarah’s successful Series C round underscores its pivotal role in transforming the automotive retail landscape in Saudi Arabia. With strong backing from prominent investors, the company is well-positioned to advance its strategic goals and drive further growth in the evolving used car market.

Athir Raises Funding Round, Poised to Transform Saudi Healthcare

Athir Raises Funding Round, Poised to Transform Saudi Healthcare

Saudi Arabia-based healthtech company Athir has successfully closed its first investment funding round. Notably, Wa’ed Ventures, SHARE Investment Co., and RZM Investment participated as key investors. Although the exact amount remains undisclosed, this milestone represents a significant achievement for Athir, which Jawad Chaudhry, Ahmad AlJehani, and Abdoulmohsen Alyoubi founded in 2017.

Innovative Healthcare Solutions

Athir is driving digital transformation in healthcare with its advanced system. This system not only manages healthcare, revenue, and medical insurance but also includes smart device applications. These applications provide integrated medical records for both clinic and medical center visitors.

Moreover, the “Athir HIS” system stands out as the first fully integrated Saudi system for healthcare facilities. It caters to both public and private sectors and integrates seamlessly with platforms like Absher, Sehhaty, and Wasfaty. Additionally, it connects with hospital and medical insurance systems.

A Milestone for Athir

Jawad Chaudhry, Chairman and Co-Founder , expressed his excitement about the success of the funding round. He emphasized that this achievement marks a major milestone for the company. Athir has developed its innovative health platform on a national cloud network, aiming to enhance the patient experience. Furthermore, the platform automates medical insurance procedures and drives sector-wide transformation.

Conclusion

In summary, Athir’s funding success highlights the growing interest in healthtech innovation within Saudi Arabia. Consequently, with its cutting-edge solutions, Athir is well-positioned to play a pivotal role in the future of healthcare technology.

For more updates on startups innovations and investment news, stay tuned to our blog!

TWLM Secures $270,000 Investment to Expand its  Services in KSA

TWLM Secures $270,000 Investment to Expand its Services in KSA

Investment Boosts Expansion Plans

Saudi Arabia-based food pick-up app TWLM has successfully raised $270,000 in its latest funding round. Specifically, B Group led this investment, with valuable contributions from angel investors. This funding marks a significant milestone for the company, paving the way for future growth.

Founders and Service Overview

Founded in 2023 by Ahmed Al-Dakhil, Abdulaziz Al-Rashoud, Abdullah Al-Dakhil, and Walid Al-Qarni, TWLM is transforming the way people order food. The app offers a convenient solution for picking up orders from restaurants and stores, thus catering to the increasing demand for efficiency and ease.

Goals for Expansion

With this new infusion of capital, TWLM is set to accelerate its expansion plans. Currently featuring over 250 restaurants and stores, the company aims to boost its network to 1,000 locations by the end of the current fiscal year. Consequently, this ambitious goal highlights TWLM’s commitment to significantly enhancing its presence across Saudi Arabia.

Future Prospects

Moreover, the investment will enable TWLM to improve its services further and reach a broader audience. By leveraging these funds, TWLM is poised to scale its operations effectively, offering even more value to its users. As a result, the company will continue to solidify its position in the competitive food pick-up market.

Looking ahead, TWLM will remain focused on delivering an exceptional pick-up experience. This focus will ensure that customers can easily enjoy their favorite meals without the usual hassle of traditional ordering methods.

Stay tuned for more updates on TWLM’s progress and other exciting developments in the startup world. For additional insights and the latest news, visit kzaad.com.

Source: Inc. Arabia