The Small and Medium Enterprises General Authority “Monsha’at” announced, on the sidelines of Biban 24, held under the theme A Global Destination for Opportunities, the closing of several investment rounds for startups, including Yanmo, Excess Materials Exchange (EME), the PTway platform, and Iqra Arabic, with a total value of around SAR 38.73 million.
Taking part in these investment rounds were a group of investment funds and companies and development banks, including Qatar Development Bank, the Nour Nouf Investment Fund, the Wa’ed Ventures fund, the Bunat Ventures fund, the Wadi Makkah Investment Fund, and Hasm Holding.
These rounds reflect the importance of investment in strengthening the growth and expansion plans of startups, and express the great confidence investors place in startups in the region. The financing aims to enable the companies to deliver innovative solutions that keep pace with market needs and strengthen their leading position in their fields.