– Teradix has secured a USD 140,000 grant from the TAQADAM Accelerator at KAUST, supporting its strategic expansion into the Saudi market.

– The company offers innovative eProcurement solutions, enabling businesses to streamline operations, reduce costs, and manage the entire procurement process efficiently.

– Teradix plans to leverage the grant to accelerate growth and drive digital innovation in Saudi Arabia’s procurement sector, solidifying its market position.

Grant Secured to Fuel Saudi Expansion

Teradix, an eProcurement solutions provider in MENA, secured a USD 140,000 grant from the TAQADAM Accelerator program at King Abdullah University of Science and Technology (KAUST).

So, this funding will fuel Teradix’s strategic expansion into Saudi Arabia, where it plans to revolutionize procurement processes. With the grant, Teradix aims to enhance its eProcurement solutions, driving growth and delivering greater value to clients.

Innovative Tools for Procurement Efficiency

Additionally, the platform simplifies procurement for businesses of all sizes by managing spending from requisitions to contracts. Its innovative tools, such as RFQs and reverse auctions, help organizations save on every request.

Teradix also strengthens supplier engagement by centralizing communication, improving collaboration, and offering customizable dashboards for better insights.

Khaled Aboshady, Co-Founder and CEO of Teradix, expressed his excitement about the milestone, stating, “Winning this grant from the TAQADAM Accelerator program is a testament to our team’s sheer focus and efforts. It not only validates our innovative approach to eProcurement, but also provides us with the vital resources to expand our presence in the Saudi market and deliver unparalleled value to our clients in the Kingdom.”

Positioning for Growth and Digital Innovation

By entering the Saudi market, Teradix is set to transform procurement practices and accelerate digital innovation, positioning itself as a key player in the eProcurement space.