• Immensa, MENA’s leading additive manufacturing startup, has successfully secured $20 million in a transformative funding round, with Global Ventures spearheading the investment.
• Alongside Global Ventures, Endeavor Catalyst Fund and EDGO join existing supporters, including Energy Capital Group, Shorooq Partners, and Green Coast Investments, signaling a strong endorsement of Immensa’s potential. This funding is pivotal in elevating Immensa from a regional player to a global solutions provider.
• Immensa’s Vision and Impact: With a focus on digitizing warehouses and creating agile supply chains in the $91 billion global energy spare parts market, Immensa addresses critical challenges faced by the sector.
Immensa, the additive manufacturing startup in the MENA region, announced it concluded a transformative $20 million funding round, led by Global Ventures, MENA’s foremost venture capital firm, according to a company statement.
This significant investment marks Immensa’s first funding initiative since its $7 million Series A round in 2021.
In addition to Global Ventures, key contributors to the round include new investors Endeavor Catalyst Fund and EDGO, alongside existing supporters Energy Capital Group (ECG), Shorooq Partners, and Green Coast Investments.
The digitized supply chain introduced by Immensa offers tangible benefits for energy companies, including financial advantages, operational efficiencies, and environmental benefits.
Annually, energy companies grapple with unnecessary losses estimated at $30 billion.
This injection of funds is poised to propel Immensa beyond its regional status, positioning it as a global solutions provider, particularly as it builds the largest digital warehouse in the energy sector through its proprietary technologies.
The capital infusion will be instrumental in advancing Immensa’s global expansion strategy, further investing in its exclusive software, DIS RT, and augmenting its Artificial Intelligence (AI) tools.
As part of this expansion, Immensa will intensify its presence in KSA and the UAE while eyeing market entries in at least two additional regional countries within the next six months, with Oman being a likely candidate.
The company already serves Kuwait, Bahrain, Qatar, and Jordan, and anticipates entering the North American market within the next 12-18 months, while exploring projects in Southeast Asia.
Immensa operates within the $91 billion global energy spare parts market, of which the Middle East constitutes 35%.
The company, uniquely positioned, works closely with Original Equipment Manufacturers (OEMs) and end users, revolutionizing the sector by digitizing warehouses and creating agile supply chains. This move addresses challenges faced by legacy structures in meeting customer needs promptly and cost-effectively.
Fahmi AlShawwa, CEO and Founder of Immensa, expressed enthusiasm about the funding round, stating, “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, emphasized the alignment of Immensa’s business model with the transformative power of supply chain technology, stating, “We are convinced that they are best placed to capture this considerable opportunity in MENA and globally.”
Ali Abdulaziz AlTurki, CEO of ECG, praised Immensa’s growth and market penetration, affirming that “Global Ventures’ lead in this round is a further validation of Immensa’s success and growth.”
With seven years of expertise in additive manufacturing and digitization, Immensa has successfully produced over 15,000 products.
Since their 2021 funding round, the company has attracted top-tier executives, inaugurated a state-of-the-art Advanced Manufacturing center in Saudi Arabia, and plans to digitize one million energy spare parts by 2027. The integration of Artificial Intelligence with Additive Manufacturing is set to accelerate the adoption of digital supply chains, potentially reducing the total cost of ownership of spare parts by up to 50%.
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