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FinancialNews


  • 08-01-23

    Saudi startups start new year with additional investment rounds

    (MENAFN) Saudi Arabia-located property technology startup AtarCloud collected USD1.3 million in a seed investment round from BIM Ventures in line with additional financiers from the Investors’ Mine Group.

    Created two years ago (2021) by Haseeb Mohammed, AtarCloud supplies property owners as well as real estate developers with equipment to develop their management activities.

    “We’re proud to be enabling property owners and real estate developers in setting the new standard in property management in Saudi Arabia,” Mohammed stated in an announcement.

    Saudi Arabia’s property administration market is projected to be valued at more than USD8 billion on a yearly basis and is anticipated to expand by a minimum of 50 percent in the approaching years.

    Manafa Capital, the initial authorized crowdfunding platform in Saudi Arabia, declared the ending of its series A investment stage of USD28 million by Riyadh-located venture capital company STV and Wa’ed Ventures, the venture capital arm of Saudi Arabian Oil Co.

    MENAFN08012023000045014228ID1105397268

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