LEAP25 Day 3 Sees $1.79B in Tech Investments Boosting Saudi Vision 2030

Riyadh, February 11, 2025 — The third day of the LEAP25 conference saw technology companies and startups announce investments totaling $1.79 billion, reinforcing Saudi Arabia’s position as a regional hub for technology and innovation and a global destination for tech and artificial-intelligence (AI) investments, according to the Saudi Press Agency (SPA).

Context and Background

LEAP25, held in Riyadh, is a premier global technology event that gathers industry leaders, innovators, and investors to showcase cutting-edge solutions. Day three’s announcements focus on digital talent development, research and innovation, AI, cloud computing, and technological infrastructure, aligning with the Kingdom’s Vision 2030 goals of economic diversification and digital transformation.

Key Details

The Communications, Space, and Technology Commission (CST) launched the third cohort of the Emerging Technology Regulatory Sandbox, enabling innovators to test new technologies in a flexible regulatory environment. Equinix announced the region’s largest cloud-computing data center with an investment exceeding $1 billion. Hands On Global Management launched a $300 million fund for game development and announced plans to establish a headquarters in the Kingdom.

The National Technology Development Program (NTDP) committed $150 million in accelerators and funding for IT startups. Joa Capital and Buildnow Trading launched an $80 million infrastructure fund, while Ula Capital announced a $75 million fund for applied AI and deep tech. Sharaka Financial unveiled a $30 million fund for MENA startups, and Orbit Startups with Sanabil Investments introduced a $60 million accelerator program for 200 early-stage startups.

Startup funding rounds included Merit securing $28 million in Series B, UltiAcademy raising $28 million for an AI-powered learning platform, BRKZ closing $22.5 million for smart construction, Buildnow securing $9.76 million for construction supply chain solutions, Torod raising $11.3 million for an AI logistics agent, and Hydratac Inc. investing $3 million in military simulation games.

Implications and Impact

These investments boost Saudi Arabia’s standing as a global tech hub, attracting foreign capital and fostering innovation. The focus on AI, cloud computing, and digital talent creates a robust ecosystem for startups and multinationals, driving economic growth and job creation in line with Vision 2030.

Vision 2030 Alignment

Day three of LEAP25 demonstrates the Kingdom’s commitment to becoming a leader in technology and innovation, a key pillar of Vision 2030. By investing in digital infrastructure, nurturing talent, and supporting startups, Saudi Arabia is building a sustainable, knowledge-based economy that will drive prosperity and global competitiveness for decades to come.

20 Questions

Q1. What was the total investment announced on Day 3 of LEAP25?

A1. The total investments announced on Day 3 of LEAP25 amounted to $1.79 billion, focusing on digital talent, AI, cloud computing, and technological infrastructure.

Q2. Which Saudi entity launched the third cohort of the Emerging Technology Regulatory Sandbox?

A2. The Communications, Space, and Technology Commission (CST) launched the third cohort of the Emerging Technology Regulatory Sandbox to help innovators test new technologies.

Q3. What major infrastructure project did Equinix announce?

A3. Equinix announced the launch of the region’s largest cloud-computing data center with an investment exceeding $1 billion, strengthening Saudi Arabia’s cloud services position.

Q4. What is the purpose of the White Helmets’ “Asif” AI agent?

A4. The “Asif” AI agent aims to enhance efficiency and accuracy in construction projects, keeping pace with future developments in the sector.

Q5. How much did Hands On Global Management invest in game development?

A5. Hands On Global Management launched a $300 million fund to develop and distribute games locally and internationally and plans to establish a headquarters in the Kingdom.

Q6. What support did the National Technology Development Program provide?

A6. The NTDP launched accelerators and funding worth $150 million to foster IT innovation and drive growth of tech startups in the Kingdom.

Q7. What is Joa Capital’s infrastructure fund for?

A7. Joa Capital launched an $80 million infrastructure fund in partnership with Buildnow Trading to meet the needs of the Kingdom’s thriving construction sector.

Q8. What type of fund did Ula Capital announce?

A8. Ula Capital announced a $75 million fund dedicated to investing in applied AI and deep tech projects, strengthening Saudi Arabia’s leadership in advanced fields.

Q9. Which financial firm launched a $30 million fund for MENA startups?

A9. Sharaka Financial launched a $30 million investment fund to support startup growth across the Middle East and North Africa.

Q10. What is Orbit Startups’ accelerator program with Sanabil Investments?

A10. Orbit Startups and Sanabil Investments introduced a $60 million accelerator program aimed at investing in 200 early-stage tech startups.

Q11. How much did Merit raise in its Series B round?

A11. Merit successfully completed its Series B investment round, securing $28 million to enhance its innovative tech solutions and expand global market presence.

Q12. What will UltiAcademy’s Series B funding support?

A12. UltiAcademy secured $28 million in Series B funding to support expansion in the Kingdom and launch a generative AI-powered digital learning platform.

Q13. What sector does BRKZ aim to transform with its funding?

A13. BRKZ secured $22.5 million to expand the smart construction sector in the Kingdom through advanced technology solutions, supporting smart-city projects.

Q14. Which companies led Buildnow’s $9.76 million funding round?

A14. Buildnow’s $9.76 million funding was led by Arbah and STV to enhance digital solutions for the construction supply chain in MENA.

Q15. What is Hydratac Inc.’s investment in Hands On Global Management’s fund for?

A15. Hydratac Inc. invested $3 million to develop military shooting simulation games, driving innovation in the regional gaming industry.

Q16. What academy did Microsoft launch with the National Academy of Information Technology?

A16. Microsoft collaborated to launch the region’s first data-center academy, offering specialized programs in AI and technological infrastructure.

Q17. How many people does Huawei aim to train with its AI Knowledge Hub?

A17. Huawei launched the AI Knowledge Hub to promote lifelong learning and train 25,000 people in digital skills.

Q18. What is the focus of Accenture’s first academy in the region?

A18. Accenture’s academy focuses on cybersecurity, data and AI, digital engineering and manufacturing, and emerging technologies, with a target of training 15,000 individuals.

Q19. How many people does Atomcamp’s regional academy aim to train?

A19. Atomcamp announced a regional academy for data science and AI, aiming to train 20,000 people and enhance talent capabilities in the Kingdom and region.

Q20. What did Torod company achieve in its Series A round?

A20. Torod company closed its Series A funding round, raising $11.3 million led by Waed company to support the development of the first AI-powered logistics agent.

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