{"id":90019,"date":"2024-09-29T00:00:00","date_gmt":"2024-09-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/29\/mila-celebrations-raises-usd-227k-in-pre-seed-round\/"},"modified":"2024-09-29T00:00:00","modified_gmt":"2024-09-29T00:00:00","slug":"mila-celebrations-raises-usd-227k-in-pre-seed-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/29\/mila-celebrations-raises-usd-227k-in-pre-seed-round\/","title":{"rendered":"Mila Celebrations raises USD 227k in pre-seed round"},"content":{"rendered":"

Homegrown event planner <\/strong>Mila Celebrations<\/a><\/strong> raised USD 227k in a <\/strong>pre-seed<\/strong> funding round led by unnamed angel investors<\/strong>, according to a press release<\/a>. <\/p>\n

Proceeds from the round are earmarked to finance the startup\u2019s expansion into the<\/strong> broader GCC market.<\/strong> The funds will also be applied towards improving Mila\u2019s app, boosting offerings, and extending into untapped event segments such as corporate events. <\/p>\n

About Mila: <\/strong>Founded in 2024 by Muhammad Ghourbal (Linkedin<\/a>), the digital event planning platform provides seamless solutions covering everything from decor, to catering and photography. Mila has organized some 1k events across the Kingdom, including weddings, birthdays, and graduations. Clients spend an average of SAR 3k for birthday events via Mila, with spending for weddings regularly exceeding SAR 200k.<\/p>\n

More on Saudi Arabia\u2019s event planning scene: <\/strong>The event market in the Kingdom exceeds SAR 50 bn annually, with high expenditures being commonplace due to the cultural significance of family events, according to the press release. Per capita wedding expenditure in Saudi Arabia is among the world\u2019s highest. <\/p>\n

IN OTHER STARTUP NEWS- <\/p>\n

Texas-based off-gas-to-value <\/strong>startup Utility Global secured a follow-on investment <\/strong>from<\/strong> Aramco Ventures in an ongoing series C round<\/strong>, according to a press release<\/a>. The details of Aramco Ventures\u2019 contribution to the round remain unclear. The round \u2014 which has so far raised USD 53 mn \u2014 is led by Canada\u2019s OPG Pension Plan<\/a> and steel gant ArcelorMittal<\/a>. The firm first drew Aramco\u2019s interest in a USD 25 mn series B round in 2022<\/a>. <\/p>\n

Use of proceeds:<\/strong> Utility Global plans to use the cashflow infusion to accelerate the commercial rollout of its patented eXERO tech after successful tests. The technology is designed to cut greenhouse gas emissions in hard-to-abate industries such as steelmaking. <\/p>\n","protected":false},"excerpt":{"rendered":"

The startup is also looking to expand into the broader GCC market<\/p>\n","protected":false},"author":1,"featured_media":90020,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2556],"tags":[10,31,179,521],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam-ksa","tag-investment-watch","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"ada4bd34-408b-456b-86e2-5d8041e2dd84","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/2139.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mila Celebrations raises USD 227k in pre-seed round led by unidentified angel investors","related_issue":[90000],"teaser":"The startup is also looking to expand into the broader GCC market","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.ddc2c9d4-fc81-48c1-b1e1-9ca998d724f9.mp3"},"yoast_head":"\nMila Celebrations raises USD 227k in pre-seed round - 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