The Top 10 Most Funded KSA Startups for H1 2024

Top 10 Most Funded Saudi Startups in H1 2024

Saudi Arabia’s startup ecosystem is rapidly evolving, driven by the Kingdom’s Vision 2030 goals to diversify the economy and foster technological innovation. Riyadh, the capital, has emerged as the focal point for startup activity, with substantial investments fueling the growth of companies across various sectors such as commerce, fintech, and proptech.

1. Salla Leads Saudi Startup Funding in H1 2024

Among the top-funded startups, Salla stands out as the only mega round in Saudi Arabia, raising $130 million in a venture series. This funding solidifies its leadership in the B2B commerce sector and paves the way for a potential IPO.

Other Top-Funded Saudi Startups in H1 2024

2. Moyasar – $20.8M (Seed Round)

• Enhancing FinTech solutions for secure electronic payments.

3. Iyris – $16M (Series A)

• Advancing agroclimatic technology for sustainable food production.

4. Mazadak – $10M (Venture Round)

• Innovating digital real estate transactions with VR tours.

5. Buildnow – $9.4M (Seed + Debt)

• Streamlining construction raw materials procurement with FinTech solutions.

6. BRKZ – $8M (Series A)

• Revolutionizing B2B marketplace for construction materials.

7. WheeKeep – $8M (Series A)

• Expanding logistics with mobile self-storage solutions.

8. Clinicy – $5M (Series A)

• Scaling its cloud-based HealthTech platform for medical institutions.

9. AlGooru – $3.6M (Seed Round)

• Expanding AI-powered tutor matching in EdTech.

10. Ejaro – $3.28M (Seed Round)

• Strengthening its peer-to-peer vehicle-sharing marketplace.

Saudi Arabia’s Startup Outlook

With continued investment across FinTech, PropTech, and commerce, Saudi Arabia is positioning itself as a regional tech powerhouse. The growth trajectory suggests even bigger funding rounds ahead, driven by Vision 2030 initiatives.

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Related links: What Are The Most Funded Startups in Saudi Arabia?