Riyadh - Sharikat Mubasher: COFE Tech, a Riyadh-headquartered operator of agentic AI enterprises, announced the closure of a pre-IPO funding round at a $178 million valuation, co-led by Wa'ed Ventures, Aditum Investment Management, Masarrah Investment Company, and Alyasra Foods.
The investment, announced at LEAP 2026, puts COFE Tech on track for a targeted IPO on the Saudi Exchange by 2029, the company stated in a press release yesterday.
The round supports COFE Tech’s growth from a consumer marketplace to an operator of agentic AI enterprises, along two principal tracks: Agentic Procurement, a unified enterprise procurement infrastructure solution, and Agentic Commerce, a unified enterprise technology infrastructure solution.
With these innovative solutions, COFE helps companies run procurement, sales, and inventory through a single intelligent platform, where agents monitor the business, anticipate its needs, and act on its behalf.
Ali Al-Ebrahim, founder and CEO of COFE Tech, said: “The backing from Wa'ed Ventures, Aditum Investment Management, Masarrah Investment Company, and Alyasra Foods reflects confidence in our read on where enterprise software in the Gulf is heading, and we intend to turn that into continued growth across the MENA region.”
In turn, Anas Algahtani, chief executive officer at Wa’ed Ventures, commented: “COFE Tech has demonstrated an impressive ability to evolve from a consumer marketplace into an enterprise technology platform addressing critical procurement and commerce challenges. Its growing adoption across Gulf enterprises validates both the strength of its technology and the scale of the opportunity ahead. We see significant potential for COFE Tech to deepen its presence in Saudi Arabia and build an institutionally ready technology company with long-term regional relevance.”
COFE Tech is an agentic enterprise provider building the infrastructure that lets businesses run themselves. It currently serves more than 1,000 clients across 3,000 outlets in Saudi Arabia, Kuwait, and the United Arab Emirates, spanning coffee shops and restaurants, hotels, hospitals, education, aviation, and corporates.
LEAP2026 takes place from 31 August to 3 September under the theme “Into New Worlds,” bringing together thousands of companies, startups, investors, and technology experts. It is expected to attract more than 1,000 global speakers and experts, 1,800 technology companies, 600 startups, and 1,900 investors and venture capital representatives.