Immensa Secures $20 Million Funding Round to Expedite Global Expansion

Immensa Secures $20 Million Funding Round to Expedite Global Expansion

By Press Release, 01 December 2023

Immensa, MENA’s largest additive manufacturing startup, announces a $20 million funding round.

The round was led by Global Ventures, MENA’s leading venture capital firm. 

Other participants included new investors, Endeavor Catalyst Fund and EDGO, and existing investors, Energy Capital Group (ECG), Shorooq Partners, and Green Coast Investments.

This funding round marks Immensa's first fundraising effort since its $7 million Series A round in 2021.

The proceeds will help expedite Immensa’s global expansion, transforming it from a regional player into a global solution provider as it builds the largest digital warehouse in energy via its proprietary technologies. The company will invest further in its exclusive software, a technology platform solution called DIS RT, and augment its artificial intelligence (AI) tools.

Immensa will continue to invest in and expand its existing operations in KSA and the UAE and anticipates market entries to at least two regional countries in the next six months, of which one is likely to be Oman. The company is also active and already serves Kuwait, Bahrain, Qatar, and Jordan. An expansion into North America is expected in the next 12–18 months, and projects in Southeast Asia are being evaluated.

Immensa operates in the global energy spare parts market, a sector largely untapped by existing additive manufacturing players and valued at $91 billion, of which the Middle East comprises 35%.  Immensa works closely with both OEMs and end users, revolutionising the sector by digitising warehouses and creating more agile supply chains, as legacy structures often struggle to meet customer needs and preferences promptly and cost-effectively. 

 A digitised supply chain provides various tangible benefits for energy companies, including financial advantages like cash release and lower inventory ownership costs. It also provides operational benefits such as localised production and real-time procurement, along with environmental benefits such as reduced waste and a lower carbon footprint. Annually, energy companies face unnecessary losses estimated at $30 billion. 

Immensa is the only company to own and control the full digital supply chain, offering end-to-end solutions covering assessment, digitization, and production-on-demand, all in one user-friendly interface. Its first-of-a-kind platform, DIS RT, tailored to the energy and power sector, solves the dual challenges of data security and quality control, with all processes executed in-house or on-premise. Immensa has also integrated proprietary AI tools into DIS RT to manage extensive data volumes, ensuring real-time information processing, and has developed its own proprietary hardware systems, enhancing its competitive edge in the market.

Fahmi AlShawwa, CEO and Founder of Immensa, commented:

“We are delighted to announce our $20 million funding round as we reshape the global energy spare parts market - a market ripe for disruption. By digitising 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.

He continued, “We will also expand geographically, strengthening our presence in Saudi Arabia, the UAE, and Oman, while venturing into North America within the next 18 months. . We reduce the vast unnecessary costs and long lead times of legacy supply chains and look forward to working closely with our energy sector clients to take this to new levels.”

Noor Sweid, Founder and Managing Partner of Global Ventures, commented:

“We are delighted to lead Immensa’s funding round. As MENA's largest additive manufacturing startup, the company's business model aligns with our own thesis on supply chain technology's power to decentralise, disintermediate, and bring greater efficiency to supply networks, starting with manufacturing. Immensa is addressing a sector under-explored by additive manufacturers: the $91 billion global energy spare parts market. We are excited to partner with Fahmi, Sary, and the rest of the team as they build the largest digital asset warehouse. We are convinced that they are best placed to capture this considerable opportunity in MENA and globally.”

Ali Abdulaziz AlTurki, CEO of ECG, commented:

“The closing of the US$20 million funding round is a testament to the successful growth and significant market penetration of Immensa in Saudi Arabia, the UAE, and the region in transforming the spare parts market supply chains by digitising warehouses and creating more agile supply chains. We are proud to have Global Ventures lead this round, and their partnership is a further validation of Immensa’s success and growth.”

Immensa’s expertise, spanning seven years in additive manufacturing and digitization, has created a platform uniquely tailored to the energy and power industries. To date, they have successfully produced over 15,000 products. 

Since their funding round in 2021, Immensa has made significant strides. They’ve attracted top-tier C-suite executives from the industry and inaugurated their second state-of-the-art Advanced Manufacturing Centre in Saudi Arabia. Notable clients use the company’s end-to-end digital inventory solution, with Immensa on track to digitise one million energy spare parts by 2027. The convergence of artificial intelligence with additive manufacturing is set to accelerate the adoption of digital supply chains and the shift of spare parts from conventional to additive manufacturing. On-demand manufacturing has the potential to reduce the total cost of ownership of spare parts by up to 50%.


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