Wa’ed Ventures, the venture capital arm of Saudi Aramco, has allocated $100 million to invest in early-stage artificial intelligence (AI) startups. The fund aims to accelerate Saudi Arabia’s push to enhance its competitiveness in the global AI sector, Bloomberg reported. The investment will be deployed… Read More
Read more in: Global, Artificial Intelligence | Tagged saudi arabia, saudi aramco, venture capital, wa'ed
Recently global investment platform OurCrowd announced that it had topped $2 billion in capital commitments on its platform. OurCrowd is based in Israel but caters to a global market of both investors and private firms in need of growth capital. When the milestone was announced,… Read More
Read more in: Featured Headlines, Asia, Global, Investment Platforms and Marketplaces, Strategy | Tagged abu dhabi, abu dhabi investment office, adgm, adio, israel, jon medved, ourcrowd, saudi arabia, saudi aramco, uae, venture capital
Wa’ed, the entrepreneurship division of Saudi Aramco, has been working with Fintech Saudi as a key partner, along with local seed and early-stage VC company Flat6Labs, in order to introduce a 12-week Fintech Accelerator program. The new Fintech Accelerator will focus on supporting the ongoing… Read More
Read more in: Asia, Fintech | Tagged fintech accelerator, fintech adoption, fintech saudi, fintech trends, flat6labs, mena, mena region, middle east, saudi arabia, saudi aramco, startups, wa'ed
Saudi Arabia’s venture capital funds are increasingly looking to tap into Fintech, digital commerce, and healthcare segments this year. VC activity has increased considerably in the MENA region including Saudi Arabia during the past few years, with local startups recording a 55% year-over-year growth in… Read More
Read more in: Asia, Fintech | Tagged adel al-ateeq, coronavirus, covid-19, digital commerce, e-commerce, early-stage firms, fintech adoption, healthtech, magnitt, mena, mena region, middle east, pif, public investment fund, saudi arabia, saudi aramco, startups, vc funding, venture capital, wa'ed
US-based Wahed Inc, an Islamic-finance Fintech firm that’s backed by Saudi Aramco, is reportedly planning to acquire Niyah Ltd, a UK company that operates a digital banking platform for the Muslim community. Wahed’s management noted that they’re hoping the acquisition will allow them to offer… Read More
Read more in: Fintech, Global | Tagged digital banking, digital financial services, europe, financial services, islamic finance, islamic fintech, junaid wahedna, saudi aramco, uk, united kingdom, united states, us, wahed
Taulia, a top supply chain financing Fintech is raising $60 million, according to the company. Big-name investors are participating in the round including JPMorgan, Ping An, Saudi Aramco, and existing investors including Zouk Capital. CEO of Taulia, Cedric Bru said the funding round is a… Read More
Read more in: Fintech, Global | Tagged aysar tayeb, cedric bru, donald lacey, jpmorgan, ping an, saudi aramco, stuart roberts, taulia, trade finance
The venture capital division of the most profitable firm in the world, Saudi Aramco, has reportedly invested $5 million in a blockchain-enabled oil trading platform, called Vakt. Vakt’s management confirmed the news on January 28, noting that Saudi Aramco Energy Ventures is now among its… Read More
Read more in: Blockchain & Digital Assets, Global | Tagged distributed ledger technology, investment round, mena, oil, saudi arabia, saudi aramco
Crude oil production in Saudi Arabia slowed down considerably last year, from 10,643 BBL/D/1K in December 2018 to only 9,890 BBL/D/1K in November 2019. Steady and continuous drops in crude oil production may be attributed to several different factors, such as the attendant impact on… Read More
Read more in: Asia, Fintech, General News | Tagged crude oil, mena, middle east, pif, saudi arabia, saudi aramco, sovereign wealth fund
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