Riyadh - Sharikat Mubasher: The third day of LEAP 2025 saw significant investments by major technology companies and startup rounds totaling $1.79 billion, reinforcing Saudi Arabia’s position as a global hub for technology, innovation, and artificial intelligence (AI) investments.
The investments focused on AI and cloud computing and aimed at developing digital talent, strengthening tech infrastructure, and supporting research and development, a recent statement revealed.
Equinix, the global digital infrastructure leader, unveiled its plans to build the region’s largest cloud-computing data center in the Kingdom with investments worth $1 billion. The new center will position the Kingdom as a global hub for cloud service providers and technological innovation.
Investment funds and accelerators
HandsOn Global Management launched a $300 million fund to develop and distribute games locally and internationally, with plans to open a new headquarters in Saudi Arabia to promote the gaming industry and expand its global reach. Hydratac Inc announced investing $3 million in the fund to develop military shooting simulation games.
The National Technology Development Program (NTDP) launched accelerators and funding funds worth $150 million to foster innovation in the IT sector and drive the growth of tech startups in the Kingdom.
Joa Capital, the Riyadh-based investment manager, launched the first infrastructure fund in partnership with Buildnow Trading with an $80 million investment. The fund aims to meet the needs of the Saudi construction sector.
The Saudi-based data-driven venture capital company Ula Capital unveiled a $75 million fund aimed at investing in applied AI and deep tech projects, further strengthening the Kingdom’s leadership in these advanced fields.
Sanabil Investments and Orbit Startups announced the launch of a $60 million accelerator program to invest in 200 early-stage tech startups. Additionally, Sharaka Financial launched a $30 million investment fund to support the growth of startups across the Middle East and North Africa (MENA) region.
Funding Rounds
Merit Incentives, a Riyadh-based loyalty management platform, raised a $28 million series B round to develop its innovative tech solutions. The round was led by Alistithmar Capital, Stride Ventures, Tech Invest Com, Oryx Fund, and Endeavor Catalyst.
Similarly, UltiAcademy secured $28 million in a series B funding round led by Rua Ventures, with key participation from the Jordan Investment and Venture Capital Fund. This investment will fuel the company’s expansion in Saudi Arabia and support its plans to launch a generative AI-powered digital learning platform to enhance the digital learning experience across the region.
BRKZ closed the second phase of its series A funding round, securing $22.5 million to expand the smart construction sector in the Kingdom. Buildnow also secured $9.76 million to boost its advanced digital solutions for the construction supply chain across the Middle East and North Africa.
Torod company closed a $11.3 million Series A to support the development of the first AI-powered logistics agent.
Key launches
The Saudi Communications, Space, and Technology Commission (CST) launched the third cohort of the Emerging Technology Regulatory Sandbox, enabling innovators and startups to test new technologies in a flexible and secure regulatory environment and facilitating their market entry.
WhiteHelmet, a leading Saudi project management platform, announced launching the First Construction AI Agent, ASIF, to enhance efficiency and accuracy in construction projects.
The National Academy of Information Technology, in partnership with Microsoft, launched the region’s first data center academy, offering specialized programs in AI and technological infrastructure.
In a move to expand its investments in digital talent development, Huawei launched the AI Knowledge Hub, aimed at promoting lifelong learning and training 25,000 people.
Moreover, Accenture unveiled plans to establish its first academy in the region, with a target of training 15,000 individuals. The academy will focus on cybersecurity, data and AI, digital engineering and manufacturing, and emerging technologies.