Jozo bags SAR 8.3 mn in seed funding, Basma Adeem to acquire Al-Ajaji clinics

Jozo closes seed round

Proptech tokenization platform Jozo raised SAR 8.3 mn in a seed round led by Sheikh Hamad bin Sunaidan, who joins as a strategic partner,with additional backing from angel investors, it said in a LinkedIn statement. The funds will go to accelerating operational expansion, developing its technology, and expanding its investor base by rolling out more investment opportunities.

FYI- Jozo is among the proptech firms licensed under the Real Estate General Authority’s tokenization sandbox, with regulations expected to be issued in June.

Tokenization? We broke down the Kingdom’s shift toward digital real estate deeds — how it works and what it means for the market — in our deep dive here.

Basma Adeem eyes full takeover of Qassim clinic operator

Basma Adeem moves to acquire Al-Ajaji dental and dermatology clinics: Basma Adeem Medical Company signed a non-binding MoU with Al-Ajaji Trading Company to acquire 100% of Fahad Abdullah Al-Ajaji Dental Complex Company, a Qassim-based operator of dental and dermatology clinics, according to a Tadawul disclosure. The transaction covers all three of the operator’s branches, along with its assets and liabilities.

What’s next? The final valuation will be determined following due diligence, financial assessment, and regulatory approvals. The consideration is expected to include a mix of money, new share issuance, and deferred payments tied to performance.