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AI + Innovation (MENA) 
Infrastructure 
Asas closes a SAR 1.2 mn pre-seed funding round
The funding round was led by angel investor Abdulrazzaq Mohammed Al-Ansari.
SECO Capital launches a new multi-instrument fund
Salic to offload its entire 40% stake in Saudi Fisheries Company in a SAR 122.4 mn transaction.
Aramco earmarks USD 100 mn for environmental R&D at KAUST
The financing will cover green research over the next 10 years
Saudi Arabia accounted for 14% of all cyberattacks targeting the MENA region
Cyberattacks in MENA rose 3x y-o-y in 2Q 2024.
Four salt ore explorations licenses awarded at Eastern Province
Plus: Built Industrial to undertake HQ expansion of municipalities and housing ministry in the capital
5G adoption is picking up in Saudi, and so are download speeds
Saudi was also the top Arab country for average download speeds
Afac awarded site development works for Aramco’s CCS project in Jubail
PLUS: Capella Hotel Group to open its first coastal destination in Saudi in Neom
Saudi trails Kuwait and Dubai on M&A dealflow in first quarter
Tech recorded the most M&A activity
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