Riyadh – Sharikat Mubasher: Saudi VC firm, Edafa Venture Capital, a firm specializing in venture investments, announced the closing of an acquisition deal of Taskedin, a platform focused on digital solutions for human resource management and organizing technical teams within organizations.

For an undisclosed sum, the value of the deal is estimated at a six-figure dollar amount, equivalent to millions of dollars, which grants Edafa Venture Capital a strategic stake in Taskedin, opening new avenues for expansion into Gulf and global markets, according to a recent press release.

The acquisition aims to back up Taskedin’s plans to expand and enhance its footprint in Saudi Arabia and Gulf countries, as well as to open new markets worldwide.

Edafa Venture Capital affirmed its commitment to supporting innovation in startups and providing added value to its entrepreneurial clients by accelerating integrated business solutions that enhance team efficiency and promote long-term performance through innovation and development.

Edafa Venture Capital also indicated its ongoing support for its operations in the Egyptian market, alongside its expansion into the Saudi market.

 Additionally, it plans to open new branches in Bahrain and Qatar soon as part of its vision to support entrepreneurs in the Arab world.

Taskedin is a digital platform specializing in task management and human resources, tracking employee attendance within organizations.

It allows its startup clients to process monthly payroll for employees and conduct virtual meetings, moving beyond traditional methods like email and WhatsApp, thereby facilitating task distribution and reducing operational costs by up to 30%.