RIYADH: Significant investments have been made in a number of companies around the Middle East and North Africa, Startups demonstrating the expanding entrepreneurial ecosystem in the region.
Early-stage businesses in a variety of industries, such as edtech, automotive, proptech, and fintech, are concentrating on growth and technological innovation in both domestic and foreign markets. Al Tawuniya Insurance sponsored an undisclosed seed fundraising round for the Saudi proptech startup Darent.
BIM Ventures and the Morgan Stanley Inclusive Ventures Lab also participated in the round.Darent, a company founded in 2021 by Hanin Al-Subaie, connects landlords and tenants via its platform to provide a property management tool for rental homes.
“We sincerely appreciate our partners’ unwavering trust. This fundraising round is a major step towards realising our goal of transforming the vacation rental industry by delivering innovative solutions that improve the quality of the Kingdom’s tourism industry and effectively boosting the visitor experience, according to Al-Subaie.
The company plans to strengthen marketing initiatives and improve its artificial intelligence technology with the additional financing. This comes after Watheeq Proptech Venture led a $1 million pre-seed round in 2022.
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