Series A

Series B

Seed

Unknown Series Round

Pre-Series A

Riyadh

Bill Bottoms

Matt Theall

Sultan Bin Khaled

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Investment in Startup

Uncover Riyad TAQNIA Fund's funding activity and portfolio companies. Find tailored investor profiles on Lucidity Insights.

Riyad TAQNIA Fund

E-Commerce

Transportation

Finance

Technology

AI/IoT

Foodtech

Software Dev/Test

Industry

Other

Riyad Taqnia Fund (RTF) is a collaboration between Riyad Capital and Taqnia, making RTF a global venture capital fund that focuses on investing in technology startups.

Debt Financing

TruKKer

Logistics

Freight Service

Supply Chain Management

TruKKer is a Digital Freight Network that integrates Demand & Supply for multimodal freight services

Series C

Foodics

Predictive Analytics

Productivity Tools

Restaurants

Payments

Software

Accounting

Customer Experience

Foodics is the leading restaurant operations and payment tech in the MENA region, powering the operations of +30,000 restaurants with an all-in-one software ecosystem to manage and scale.

Unifonic

Messaging

PaaS

SaaS

Information Technology

Cloud

Artificial Intelligence (AI)

Unifonic is a customer engagement platform that integrates multiple communication channels to help organizations deliver exceptional customer experiences.

Eureka

Digital & ICT

Big Data

Analytics

Machine Learning

Eureka is an information technology company that specializes in data analytics, big data, and artificial intelligence.

Dubai

Beehive

Fintech

Investment

P2P Lending

Beehive is a peer-to-peer lending platform that provides an online marketplace where individual investors can lend money to small and medium-sized businesses in the UAE.

Souqalmal

Souqalmal provides financial comparison site for money management. Souqalmal.com is the leading financial comparison site in the Middle East with operations in Saudi Arabia, Bahrain and the UAE.

Haseel

Marketplace

Food and Beverages

Haseel is a fresh fruits and vegetables ecommerce platform

Jeddah

DokkanAfkar

Retail & Wholesale

DokkanAfkar.com was created by a group of passionate guys who love and appreciate creativity, design and ideas.

Al Khobar

ALWANS

Funding

Advisory and Consulting

Entrepreneurship

ALWANS is a leading saudi company with diverse interests and capabilities.

B8ak

Mobile Apps

Construction

Real Estate

Information and Communications Technology (ICT)

Property

Internet

Property Management

B8ak is an online services marketplace aimed at homeowners and landlords in Saudi Arabia, and Bahrain and provides access to handymen and service providers.

Arabot

Artificial Intelligence

Generative AI

arabot.io provides enterprises with the tools to build, manage and deploy AI agents and conversational bots in minutes.

Mile

Mile Solutions

Logistics & Storage

Mile helps fleet operators supercharge their processes with an integrated logistics & commerce platform.

Sure Global Technology

Security

Consulting

SURE provides several technical solutions in the field of technology and information security, Internet and Intranet Portals, e-Governments Solutions System Integration, and IT infrastructure systems.

Foodics, a Saudi cloud-based point-of-sale system for F&B businesses has raised $4 million in fresh funds, the startup announced today. The Pre-Series B investment comes from Riyadh Taqnia Fund (RTF), Kuwait-based Fatih Capital, and Riyadh-based Tech Invest Com and Naseel Holding. The round takes Foodics’ total investment raised so far to $8 million. The startup had raised its $4 million Series A in 2017.

Saudi-based Foodics raises $4 million to expand its point-of-sale software for restaurants to all types of retail businesses, will also launch a payment processing device

Saudi-based Foodics has raised $4 million in its Series A round. This is the first-ever external funding for the startup and was led by Saudi VCs: Raed Venture & Riyad TAQNIA Fund (RTF). Naseel Holding & 500 Startups also participated in the round.

Saudi-based restaurant management startup Foodics raises $4 million

Dokkan Afkar, a Saudi e-commerce platform for homegrown gadgets and gifts, has raised 19 million Saudi Riyal in a Series B funding round

The round was led by Venturesouq and BIAC, with participation from existing investor Riyad TAQNIA Fund, SVC, and angel investor Mishal Ali Reda

The funding will support Dokkan Afkar's expansion across the Middle East, product inventory growth, and talent acquisition.

Dokkan Afkar Secures 19 Million SAR to Expand E-commerce Presence in the Middle East

Raed Ventures led the Trukker’s first investment round of $1.4m with the participation of RTF, 500Startups and Alshareef Group Holding. The round aims to enhance and expand the company’s business in the region.

Raed Ventures led the $1.4m seed investment round of Trukker

TruKKer, a UAE-based truck aggregator, has raised $1.4 million as seed investment in a round, led by Raed VC. The round was also joined by Riyad TAQNIA Fund (RTF), 500 Startups, Cairo-based Averroes Ventures, and Kuwait’s Arzan VC.

Dubai-based truck aggregator TruKKer raises $1.4 million in seed funding

TruKKer, Middle East’s first truck aggregator and the largest operator of tech enabled trucking network raised a pre-Series A round of $2.7M from regional and Silicon Valley investors. The round was closed during the summer of 2018.

The round was led by OTF Jasoor Ventures and joined by Shorooq Investments, an early stage VC from Abu Dhabi. Existing investors such as Riyad Taqnia Fund, 500 startups, RAED VC, Arzan VC continued their support and followed up in the round too.

On-demand trucking startup TruKKer raises $2.7M Pre-Series A

TruKKer, a Dubai-based truck aggregator that claims to be the first and largest tech enabled trucking network in the Middle East has raised $2.7 million in a pre-Series A round, the startup announced today. The round was closed during the summer earlier this year and was led by Oman’s OTF Jasoor Ventures, and joined by Abu-Dhabi based Shorooq Investments. Previous investors including Riyad Taqnia Fund, 500 Startups, Raed VC and Arzan VC also participated in the investment.

The startup had raised $1.4 million in seed funding only nine months ago, this round takes it total funding to $4.1 million. They plan to use the investment to further strengthen its operations in the region, product development and expansion of its team.

The funds will be used to strengthen operations in the region , product development and further adding to an ace team.

Dubai-based truck aggregator TruKKer raises $2.7 million in pre-Series A funding

Iliad Partners announced today that it has participated in the $23 million Series A funding round of TruKKer, which was led by Saudi Technology Ventures (STV). Other participating investors included International Finance Corporation (IFC), Riyad Taqnia Fund (RTF), Oman Technology Fund (OTF), Shorooq Ventures, Endeavor Catalyst, Alturki Holding, and MEVP.

The Company will use the funding to grow the team, enhance the customer experience, and strengthen its operating infrastructure across the road freight network in the region. TruKKer will continue its aggressive growth in Saudi Arabia, the UAE, and the rest of the GCC and is also in the process of going live in Egypt and other countries in the region.

Iliad Partners invests in the Series A financing round of TruKKer

Saudi Arabia-based digital freight network TruKKer has raised $96 million in a mix of equity and debt for its Series B financing. The equity round was led by ADQ and Riyadh-based Saudi Technology Ventures (STV), with participation from Mubadala. Existing investors, including the Public Investment Fund-backed Riyad Taqnia Fund and Shorooq Partners, also took part. The debt funding was led by Mars Growth, a Liquidity Group and MUFG joint venture fund, and San Francisco-based Partners for Growth, backed by the Silicon Valley Bank.

The fresh funds will go towards accelerating new product launches and bolstering the company's presence in its existing markets across the Middle East and Central Asia.

TruKKer raises $96 million in Series B

Saudi Arabia-based engagement platform Unifonic has raised a $125 million Series B round led by Softbank Vision Fund 2 and Sanabil.


The investment marks Softbank’s first direct investment in a Saudi-based startup and its second in the Middle East after Kitopi.

Founded in 2006 by Ahmed Hamdan and Hassan Hamdan, Unifonic’s technology integrates customer communication channels including text, voice, messaging and web into a single platform to enable companies to communicate directly with customers. 

The startup raised $21 million in its Series A round in 2018 and has since quadrupled in size, processing more than 10 billion transactions on its platform, annually. 

This latest round of investment will fund Unifonic product development and hiring in order to expand into new markets around the globe. 

Press release:

Unifonic, the Riyadh headquartered customer engagement platform, today announces its $125M Series B funding round, led by SoftBank Vision Fund 2 and Sanabil Investments. Unifonic’s solutions integrate customer communication channels including text, voice, messaging and web into a single platform to enable companies to create stronger customer relationships. 

Consumers expect brands, governments, banks and organisations to connect with them over a growing number of channels. As newer channels emerge, and user preferences change over time, organisations rely on Unifonic to maximise customer engagement and optimise communication returns on investment.

From SMS for online banking to WhatsApp vaccination requests, Unifonic empowers organisations to transform customer experience while allowing them to focus on core business activities without maintaining costly communication infrastructures.

The round sets a new Series B investment record for technology startups in the Middle East, strengthening Unifonic’s leadership and growth potential in emerging markets. It also marks SoftBank’s first direct investment in a Saudi-based company and further consolidates Sanabil’s ambitions to invest in high-growth, high-impact technology start-ups in the country.

Faisal Rehman, Managing Partner for SoftBank Investment Advisers, said; “Consumers and businesses are increasingly sophisticated in how they communicate digitally, but this has created fragmentation across multiple emerging channels. Unifonic’s technology manages this complexity into a single platform, enabling enterprise clients to form closer relationships with their customers. Our investment team on the ground in Riyadh has followed Unifonic for some time and we have witnessed first-hand the company’s progress in establishing significant market leadership in the Kingdom of Saudi Arabia. We look forward to supporting the Unifonic team in scaling the platform across the Middle East and other emerging markets.”

A spokesperson for Sanabil Investments added: “Unifonic is poised to play a significant role in accelerating digital transformation initiatives for public and private enterprise in the Middle East. And so, we wanted to be a part of their journey, resulting in one of our largest investments in a high growth, high impact technology company in Saudi Arabia. We believe we can play a significant part in strengthening their strategic position and supporting their future international growth, while aligning with the country’s vision of fostering innovation.”

Less than three years after raising the largest Series A funding round in the Middle East at the time, Unifonic has quadrupled in size and now processes over 10 billion transactions on their platform, annually. Unifonic plans to continue this growth trajectory and will be accelerating product development and hiring in order to expand into new markets around the globe whilst bolstering its leading market share across the Middle East.

Ahmed Hamdan, founder and CEO at Unifonic highlighted; “At Unifonic our mission has always been to empower organisations to engage and communicate seamlessly with their customers. I couldn’t be prouder to see our solutions making such a positive impact and reaffirming that mission. This raise is an important milestone in our journey, it will allow us to scale our offerings and expand our reach to enable more organisations to connect with customers reliably and effectively. Our team is our anchor and together we aim to continue this journey and serve our clients in the best ways possible.”

Saudi's Unifonic raises $125 million Series B from Softbank and Sanabil

Those of you familiar with the incredible rise of Twilio, which came along to utterly disrupt the communications world, will be interested to hear that another player plans to do the same, but this time in the staid and tricky area of emerging markets.

Unifonic, which has been dubbed “the Twilio of emerging markets” has today closed a $21M Series A funding round led by Saudi Technology Ventures (STV), and the emerging market specialist fund Endeavor Catalyst, which is backed by LinkedIn co-founder Reid Hoffman, among others. Other participants include RTF ELM, and Raed Ventures.

At $500M, STV is the largest VC fund in the region, and anchored by the Saudi Telecom Company (STC), the largest telecom company in the Middle East. Former Googler turned VC Abdulrahman Tarabzouni lead this round.

As far as we can tell, the is the largest Series A funding in the history of the Middle East technology sector. Appropriately, it shows the sheer growth in the region and comes on the heels of our recent and highly successful TechCrunch Startup Battlefield MENA in Beirut, as well as the Series C round announced by the “Uber for Doctors” in MENA Vezeeta’s Series C.

The capital will be used by Unifonic to scale the company across the MENA region and globally, and invest in the platform.

Unifonic is similar to Twilio in that it is a B2B cloud communications platform, a space that is sometimes called Communications Platform as a Service (CPaaS).
With 100+ employees spread across nine regional offices, and over 5,000 B2B clients, many of whom are giants in the MENA region, such as Souq.com, Aramex, Al Jazeera, HSBC, Uber, FedEx, Carrefour and others, they are the MENA region’s clear No.1 in this arena.

The company was started by two brothers, Hassan and Ahmed Hamdan, who were selected as high-impact Endeavor Entrepreneurs in 2013. They now regularly compete against their European counterpart, MessageBird, which recently raised $60M (led by Accel and Atomico), and their US benchmark, Twilio.

Unifonic, dubbed the Twilio of emerging markets, closes $21M Series A round

Khobar-based home maintenance services startup B8ak has raised $2 million of seed funding in a round led by Riyad Taqnia Fund. The round was also joined by Dar wa Emaar Development and Investment Company, a Khobar-based real-estate development company.

The startup aims to use the investment to further develop its technology and expand its operations across Saudi Arabia andthe  GCC.

Saudi home maintenance services startup B8ak raises $2 million in seed funding

Jordan-based artificial intelligence (AI) company arabot has raised a $1 million seed round led by Riyad TAQNIA Fund (RTF), with participation from existing investors.

arabot raises $1 million seed funding

SURE Technologies, a Riyadh-based information technology company has raised investment from Riyad TAQNIA Fund, the two announced in a joint statement this morning. The amount of investment was not disclosed.

Riyad TAQNIA Fund

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Riyad TAQNIA Fund

Funding Deals, by Startup Growth Stage

Funding Deals, by Region

No. of Portfolio Companies

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We Invest in Startups in the Following Stages

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Top 3 sectors we invest in

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Executive Team Members

About

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or Investments