- KAUST-backed startups have raised over USD 1B, generated USD 925M in revenue, and created 6,661 jobs to date.
- In 2024 alone, portfolio companies raised USD 150 million, reflecting growing investor confidence in Saudi Arabia’s high-tech ecosystem.
- Startups like Rimrubber and iStoria are scaling internationally, showing KAUST’s role in driving global expansion and innovation impact.
KAUST
The King Abdullah University of Science and Technology (KAUST) startup portfolio has raised more than USD1 billion in total investment to date. It has also generated USD 925 million in revenue, and created 6,661 jobs. Furthermore, the portfolio itself has a total valuation of more than USD 2 billion.
“Crossing the US$1 billion investment threshold is more than a milestone — it is proof that Saudi deep tech is globally competitive,” said Ian Campbell, Senior Vice President of the KAUST National Transformation Institute.
Innovation
In 2024, KAUST’s portfolio companies collectively raised USD 150 million, reflecting the growing investor confidence in Saudi’s innovation ecosystem. The KAUST Innovation Ventures strategy focuses on co-investments with both local and international venture capital firms. Thus, it seeks to support the global translation of KAUST’s high-impact technology.
Significant Success Stories in 2024:
- Edama, secured USD 5.6 million from the Saudi Investment Recycling Company (SIRC) to expand its circular economy facilities
- Rize, closed USD 35 million to expand its “rent-now-pay-later” real estate platform
- Flynow, landed USD 44 million to establish eCopter manufacturing in Saudi Arabia and the U.A.E.
- Intelmatix, raised USD 20 million. Intermatix is simplifying the adoption of AI by companies across all industries for better decision intelligence
“Through KAUST Innovation Ventures, we are transforming world-class research into world-class companies, advancing Vision 2030 by empowering entrepreneurs, creating jobs, and attracting global investment,” said Ian Campbell, Senior Vice President of the KAUST National Transformation Institute.
Two examples of startups scaling internationally include Rimrubber and iStoria. Rimrubber offers on-demand tire sales and fitting in Saudi Arabia, Bahrain, Qatar, and the UAE. Meanwhile, iStoria is enabling non-native speakers to learn English in Europe, Latin America, and the Middle East.
Entrepreneurship
These achievements were celebrated at SPECTRUM 2025, KAUST Innovation Ecosystem’s flagship startup and investor event in Riyadh. The event was organized in partnership with Wa’ed Ventures, 500 Global, Antler, Impact46, and The Garage (KACST).
As Saudi Arabia accelerates its Vision 2030 transformation, KAUST aims to continue to serve as a national innovation engine. It seeks to develop human capital, translating research into startups, and attract international investors.
“The impact of KAUST startups goes far beyond funding: they’re building industries, jobs, and global connections that will define the next decade of Saudi innovation,” said Haitham Alhumsi, director of the KAUST Innovation Ecosystem.
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