Riyadh-based financial analytics platform SahmAlgo secured USD 1 mn via a seed funding round led by Gharesah Investment, according to a statement. The funding aims to accelerate the firm’s AI research, expand its data assets, and enhance system reliability. It will also support the launch of institutional-grade products with direct broker and asset manager integrations, strengthen compliance and governance, and drive talent acquisition.

About SahmAlgo: Owned by Saudi-registered Al-Khwarizmiah for Information Technology and licensed by the Saudi Exchange Tadawul, SahmAlgo is an advanced financial information platform designed for both retail and institutional investors. It offers data insights, including short-term price forecasts, technical stock analysis, financial news analytics, and real-time market monitoring via its Algo Radar.

ALSO- Riyadh-based building materials marketplace Shatib secured SAR 2.8 mn in a pre-seed round from an undisclosed strategic angel investor, it said on LinkedIn on Tuesday. The funds will be allocated to support the firm’s growth.

About Shatib: Founded in 2024 by Abdulaziz AlMasoud (LinkedIn), Shatib aims to roll out technology solutions that streamline building materials procurement and reduce costs across the broader construction ecosystem, according to Wamda. It also helps real estate developers and contractors secure better pricing by aggregating demand across multiple projects.

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