Pre-Seed

Seed

Others

Series A

Rest of World

Asia (ex. GCC & Levant)

Europe

Africa

Riyadh

Series F

Fares Bardeesi

Marvin Liao

Asher Siddiqui

Waleed A. Alballaa

If you're ready to take your business to the next level with Sukna Ventures, we want to hear your pitch.

Investment in Startup

Find detailed insights on Sukna Ventures: funding sectors, portfolio trends, and more. Explore Lucidity Insights.

Sukna Ventures

Fintech

Finance

Software Dev/Test

Education

Support & Management Services

Art-Media-Entertainment

Foodtech

Gaming & E-Sports

Technology

AI/IoT

Sukna Ventures is an early-stage venture capital fund located in Riyadh that specializes in supporting ventures with significant impact and focus on digital transformation initiatives.

Paradigm

Energy

Betterment

Classera

Mozn

Market leader in enterprise AI technologies that empower organizations, with a focus on Arabic NLU and Finance intelligence.

Jeddah

Quantum Platform

Computer Vision

Quantum is a Saudi Adtech enabler bridging between online publishers and advertiser with the power of tech and data.

Boston, Massachusetts

Proteinea

Biotechnology

Proteinea is a TechBio employing proprietary AI models and computational tools to engineer next-gen antibodies with improved efficacy, safety and convenience.

Loco

Cairo

MoneyHash

MoneyHash aims to streamline the development and management of payments, acting as a dedicated payment team by offering a versatile cloud platform so businesses worldwide can focus on their core operations.

Dubai

SimpliFi

Mission to democratize payments by building the leading Cards as a Service (CaaS) platform for MENA and Pakistan.

Dawul

Social Network

Dawul is a platform that allows investors to share details of the financial status of their portfolios with other investors.

Earn Alliance

Blockchain

Gaming

Web3

FlexxPay

Information Technology

Digital & ICT

Information Systems

FlexxPay is an online platform for employers who can access their earned salaries & commissions instantly, before the regular payday.

Insured Nomads

OCTA

Automation

Invoice Financing

Digital Payments

Financial Services

OCTA is an end-to-end accounts receivable platform designed to streamline the entire contract-to-cash process. We offer services like invoice automation, credit management, financing, debt collection, and recovery, all aimed at improving your cash flow and reducing your Days Sales Outstanding (DSO).

Marn

Payment

Provides easy-to-use cloud POS solutions to clients who manage SMEs to get you all they want, to manage their store, and more.

Marn.io

Anari AI

Qwasar Silicon valley

Docket

AKA Virtual

DigiPlay Gaming

RoyalePlay Games

Tradespace

43 Angels

Funding

Better Tomorrow Ventures

Competera

Big Data

E-Commerce

Bounty (TryBadge)

Marketing

Conterra

Cyber Security

Security

Developer APIs

FanVestor

Lumikai

Marque Ventures

Defense & Security

Pollen VC

Streamline (GMDH Inc.)

SaaS

Analytics

Machine Learning

SuperCharger Ventures

ThriveCoin

Crypto

Communities

Treasury

Vectr

Product Design

Wolf3D

Augmented Reality

Virtual Reality

Riyad-based social trading platform Dawul announced on Tuesday that it has raised $5 million in a seed round led by RAED Ventures with participation from Impact46, Seedra Ventures, Derayah Venture and Sukna Ventures.

Dawul platform is the leading platform specialized in social trading. Established in 2020, it acquired a permit from the Saudi Capital Market Authority to conduct financial technology experiments by the end of the same year, and  was officially launched in July 2021. Dawul is built to help beginner investors keep looking for automated ways to execute trades or, what’s even better, follow professional traders and their portfolios and investment strategies. This way, they can obtain details of the traders’ operations directly and in real time.

Dawul also introduced the “investment funds” product, which allows users to view the data of investment funds in the Saudi market, and to see all updates and analysis related to their own preferred funds. All this is through alerts and notifications that are sent periodically to help beginners in making decisions regarding the buying and selling of stocks, and the building of their investment portfolios in a transparent and safe manner.

Dawul plans to take advantage of this investment round by expanding its offers of social trading-related products, as well as expanding its network in the Middle East and North Africa. The platform aims to target the American and British market with its services,  while focusing its efforts on recruiting talent in the fintech industry.

“We are excited to move forward with this fund and we expect to be the first choice for traders in the region based on our value, upgrading the investor experience, and improving transparency in the financial sector,” said Mr. Mansour Al-Harbi, Founder and CEO of Dawul, in response to this funding round.

Co-founder of RAED Ventures Mr. Talal Alasmari commented on this funding round: “There are enormous opportunities behind the concept of social trading which have not yet been applied in the region. We are pleased to be investing in Dawul platform which is the first to introduce this concept to the Saudi market through a safe and transparent platform, and with the support of the Capital Market Authority to raise awareness among investors. We believe in the ability of the Dawul team to expand and serve  the whole MENA region.”

“The initiatives from public and private sectors on the importance of investment, along with the people’s awareness of the value of investments, there is a gap of knowledge in the investment field and its risk. Dawul’s fills the gap by empowering experts in the investment field to share their experience. We bet on the vast experience of Mansour Al-Harbi driving the social trading platform Dawul forward” Mohammed Alnasyan from Impact46 commented on the investment.

Saudi’s Social Trading Platform Dawul raises $5 Million in seed round with participation from Impact46

Sukna Ventures

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Sukna Ventures

Funding Deals, by Startup Growth Stage

Funding Deals, by Region

No. of Portfolio Companies

Total No. of Investments Globally, by Year

We Invest in Startups in the Following Stages

Statistics

Sectors we invest in

Top 7 sectors we invest in

Portfolio Companies or Investments

Executive Team Members

About

Legal

Social Media

Portfolio Companies
or Investments