Azom Raises $9.5 Million in Series A Funding Round

Azom aims to continue with developing its products as well as focusing on geographical and industrial expansion.
Azom Raises $9.5 Million in Series A Funding Round

“Our goals are big but well thought out and rational, and we look forward to achieving them with our partners,” says Mohamad Almunajem, CEO of Azom, a Riyadh-based startup aiming to make tech accessible. Azom just raised $9.5 million in a Series A funding round, from Assr AlJawal and an individual investor who prefers not to be named.

Founded in early 2018, Azom was established to provide and develop technologies and electronics such as phones and other devices at affordable prices. Azom is the brainchild of some young members of Daleni App, an on-demand services platform founded in 2017 in Riyadh.

“Technology should not be expensive, and we will strive to reach a society that we can build together,” Almunajem adds. “We will continue to invest in research and development until our work is clearly reflected on the Saudi society and economy.”

With its ‘Azom Desert 2’ phone, they focus on the middle market at competitive prices and developed the user interface under the name ‘Ibrahim UI’. It also connected to artificial intelligence algorithms, whilst developing applications that would improve user experience, such as Azom Care.

“This investment is the starting point for a new concept in the world of communications and information technology. We will work hard to ensure that the entire chain is managed by Saudi companies, starting from the manufacture and ending with the seller and the consumer.”

Mohamed El-Arini, Head, Assr AlJawal Group

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