Saudi-based startups raised a combined USD 30 mn across 11 companies in December, down from USD 50 mn in November, putting the Kingdom in second place in the Mena region following the UAE, which raised a combined USD 217 mn across 18 transactions, according to data compiled by Wamda and Digital Digest.

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A snapshot of December funding rounds: AI infrastructure provider OmniOps secured SAR 30 mn in a funding round led by GMS Capital Ventures. Edtech startup Aanaab raised USD 7 mn in a Series A round backed by Jeddah-based Dallah Investment Holding. Additionally, private tutoring platform AlGooru closed a USD 4 mn pre-series A round, led by Singapore’s Constructor Capital, with participation from Abu Dhabi’s Hub71, angel investors, and family offices.

REGIONALLY- The Mena startup ecosystem saw a 76% y-o-y decline in December 2024, raising USD 279 mn across 42 transactions. Debt financing accounted for 44% of the total. Meanwhile, fintech reclaimed its position as the most funded sector, with USD 93.5 mn raised across seven transactions.

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