• LEAP 2025 saw major funding rounds, boosting innovation and supporting startups across various sectors, including tech, construction, and finance.
• New venture funds launched, targeting industries like fintech, gaming, logistics, and deep-tech, fueling regional growth and innovation.
• Startups like Merit Incentives, Buildnow, and Pieship secured significant investments, expanding their operations and tech offerings.

With LEAP 2025 in full swing, the latest updates highlight Saudi and the region’s growing startup ecosystem, driving innovation and entrepreneurship.

New Funds Launched

Major funds and accelerators were launched at LEAP 2025 aiming to propel the region’s drive for technological innovation and entrepreneurship.

Joa Capital launched an USD 80 million venture fund in partnership with Buildnow Trading, aimed at improving the construction sector. The firm focuses its investment in finance, technology and infrastructure. Additionally, Joa Capital aims to launch funds to target projects in Saudi in various sectors with a focus on technological development. As a whole, its investments are focused on gaming, esports, fintech, proptech, transportation and logistics.

Ula Capital, a data-driven venture capital firm, launched a USD 75 million fund. The fund is dedicated to investing in deep-tech including healthcare, climate and AI. It is aiming to support technical innovation in the Kingdom and the region.

HGM launched a USD 300 million investment fund specializing in gaming. The fund aims to attract game developers to Saudi as well as develop and distribute games locally and globally. This comes amid the growing importance of e-sports in Saudi, which has been recently hosting major international tournaments.

The National Technology Development Program (NTDP)  launched accelerators and funds worth USD 150 million. Its aim is to foster innovation in the IT sector and support tech startups in Saudi Arabia.

Sharaka Financial announced the launch of its USD 30 million investment fund to support startups in the MENA region. Orbit Startups also announced the launch of a USD 60 million accelerator in collaboration with Sanabil Investments, aiming to invest in early stage tech startups.

Tech Startups

As LEAP 2025 continues to highlight the entrepreneurial ecosystem in Saudi Arabia, there is momentum seen across various sectors’ startups which signals the expansion of regional innovation. 

Most Notably, Merit Incentives, a technology solutions and loyalty management software company, secured USD 28 million in Series B funding round. The round was led by Alistithmar Capital, Stride Ventures, Tech Invest Com and Oryx Fund. The company provides e-gift cards, digital cards, and rewards programs to enhance engagement.

Hopea Pay, a fintech startup, secured approximately USD 400 thousand (SAR 1.5M), specializing in healthcare financial solutions. The round was led by Iwan Ventures, Odoba VC and Beetleware (BW). It aims to simplify healthcare payments by providing seamless, efficient, and accessible financial solutions tailored for the sectors. With this funding, the company aims to enhance its platform, expand market reach and accelerate product development. 

Financial Startups

Continuing the momentum, the Saudi- based supply chain solutions company, Buildnow raised USD 9.7 million in a round led by STV Fund and Arbah Capital. The company specializes in deferred payment solutions for the construction and building sector in the Middle East. With the funding, Buildnow aims to expand its operations across the Middle East as well as foster innovation in construction and technology.

Lite, a financial services solutions startup, closed USD 3.2 million in a pre-seed funding round led by Scene Holding. It aims to develop efficient financial solutions, expand digital solutions and enhance technical infrastructure. 

Delivery Startups

Pieship, a smart logistics and delivery solutions company, secured USD 2.1M (SAR 7.8M) in a seed funding round. The round was led by Nama Investment Fund, Sidra Investment Fund and other investment funds as well as angel investors. With the funding, it aims to increase its network’s drivers to 5,000 to improve delivery efficiency and flexibility. Additionally, it aims to expand to 7 Saudi cities as well as enhance user experience through better tracking, communication and logistic systems.
Torod raised approximately USD 11 million  (SAR 42M) in a series A funding round led by Wa’ed Ventures, Elm, Impact 46, Hala Ventures, and Suhail Ventures. The Saudi logistics startup aims to tackle shipping challenges through linking online stories on its platform with global and shipping companies.

Why is this important? These investments and funding rounds signal a strong push toward innovation, supporting startups and industries that are key for the region’s economic and technological future.