Riyadh - Sharikat Mubasher: Immensa, the largest additive manufacturing startup in the MENA region, raised a Series B funding round valued at SAR 75 million to accelerate its plans to expand globally and strengthen its presence in Saudi Arabia and other Gulf countries.
A recent press release stated that the round was led by Global Ventures with the participation of new investors, including Endeavor Catalyst Fund and EDGO, along with the existing investors: Energy Capital Group (ECG), Shorooq Partners, and Green Coast Investments.
Immensa will allocate the proceeds to speed up its goal to be a global solution provider as it builds the largest digital warehouse in energy via its proprietary technologies.
The company’s expansion plan targets entering two regional countries, including Oman, within the upcoming six months. In addition, it aims to expand into North America within 12 to 18 months.
Immensa will invest further in its exclusive software, a technology platform solution called DIS RT, and enlarge its artificial intelligence (AI) tools.
Fahmi AlShawwa, CEO and Founder of Immensa, said that the round is a step forward in the company’s journey toward reshaping the global energy spare parts market.
“By digitizing warehouses and creating more agile supply chains, we are paving the way for a new era in the industry. The proceeds will fuel our investment in innovative proprietary technology, including our end-to-end digital inventory solution and artificial intelligence tools,” AlShawwa elaborated.
For her part, Noor Sweid, Founder and Managing Partner of Global Ventures, commented: “As MENA's largest additive manufacturing startup, the company's business model aligns with our own thesis on supply chain technology's power to decentralize, disintermediate, and bring greater efficiency to supply networks, starting with manufacturing.”
Immensa works closely with both OEMs and end users, revolutionizing the sector by digitizing warehouses and creating more agile supply chains, as legacy structures often struggle to meet customer needs and preferences promptly and cost-effectively.
