- KAUST backed startups have raised over US$1B by co-investing alongside local and global investment firms.
- In 2024, KAUST-backed startups raised US$150M, signaling growth in Saudi Arabia’s high-tech ecosystem.
The King Abdullah University of Science and Technology (KAUST) startup portfolio has successfully raised over US$1 billion in investments, co-investing with a diverse network of local and global venture capital firms. This significant milestone underscores KAUST’s growing impact on the global deep-tech landscape.
As a leading international graduate-level research university in Saudi Arabia, KAUST’s startup portfolio has celebrated its best year yet in growing not only Saudi Arabia’s high-tech and deep-tech sectors but also contributing to global innovation. Its startups have raised more than US$1 billion in total investment, generated US$925 million in revenue, and created 6,661 jobs. The portfolio itself has a total valuation of more than $2 billion.
In 2024 alone, KAUST’s portfolio companies collectively raised $150 million, underscoring the growing investor confidence in Saudi Arabia’s innovation ecosystem and its rising profile on the global stage. The KAUST Innovation Ventures strategy focuses on co-investments with both local and international venture capital firms, supporting global translation of KAUST’s high-impact technology. The cross-border investment in Saudi emerging business signals the growing appetite for KAUST-supported startups in global markets and enables Saudi startups to effectively scale internationally.
Two examples of startups scaling internationally include Rimrubber, which is now offering on-demand tire sales and fitting in Saudi Arabia, Bahrain, Qatar, and the UAE, as well as iStoria, which is enabling non-native speakers to learn English in Europe, Latin America, and the Middle East.
These achievements were celebrated at Spectrum 2025, KAUST Innovation Ecosystem’s flagship startup and investor event in Riyadh, organized in partnership with globally recognized accelerators and investors like Wa’ed Ventures, 500 Global, Antler, Impact46, and The Garage (KACST).
Spectrum brings together top accelerators, global venture capital firms, and high-growth startups to drive funding, forge partnerships, and expand Saudi Arabia’s footprint in global innovation markets. The 2025 edition hosted 29 startups and 40 leading venture capital firms from around the world under the theme “Discover. Connect. Invest.”
Spectrum 2025 also introduced four new international venture partners: Techstars, NewLab, First Star Ventures, and Fountech Labs, who are bringing new capital, global expertise, and partnerships to Saudi Arabia’s growing deeptech sector and working with KAUST on new startup support programs around mobility, energy, and sustainability.
“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. “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.”
As Saudi Arabia accelerates its Vision 2030 transformation, KAUST continues to serve as a national innovation engine, developing human capital, translating research into startups, and attracting international investors.
Key deals in 2024 included:
- Edama – Raised US$5.6+ million+ from the Saudi Investment Recycling Company (SIRC) to expand circular economy facilities.
- Intelmatix – Secured US$20 million to advance AI-driven business intelligence solutions.
- Flynow – Closed US$44 million to establish eCopter manufacturing in Saudi Arabia and the UAE.
- Rize – Raised US$35 million to scale its “rent-now-pay-later” real estate platform in partnership with Aqar, the Kingdom’s largest property listing marketplace.
“Our ecosystem proves that when science meets entrepreneurship, real economic transformation follows,” said Haitham Alhumsi, director of the KAUST Innovation Ecosystem. “The impact of KAUST startups goes far beyond funding: they’re building industries, supporting new sectors in the economy, creating high-tech jobs, and attracting global capital and expertise that will shape the next decade of Saudi innovation.”
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