News
Procural Has Secured $1.2 Million In Seed Investment
The Bahrain-based startup is set to scale and expand the reach of its innovative platform.
Procural is an AI-driven procurement service that matches B2B vendors and buyers using advanced algorithms and data. The platform offers a cloud-based infrastructure, customizable workflows, automated purchase orders, and real-time budget tracking.
Now, the Bahrain-based startup has secured a seed investment of 1.2 million USD from Flagship Holding and BenchMatrix in a bid to accelerate product development and boost market growth.
“We found a gap in the market and have developed a secure, scalable solution that can be accessed from anywhere. By streamlining the purchasing process, businesses can save time and money while ensuring compliance with their procurement policies. This investment is a validation of our platform’s credibility and potential, and we’re excited to work with Flagship Holding and BenchMatrix to take Procural to the next level,” says Uzair Usman, the chief executive and co-founder of Procural.
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With an extensive suite of data-driven analytical features, Procural helps businesses to manage procurement, track spending, and identify opportunities for cost savings and improvements in process efficiency. The platform helps to digitize the entire procurement process flow, from request to fulfilment, increasing their clients’ sourcing outreach.
With the new funding, Procural will expand its team, improve the platform’s feature set, and accelerate growth, helping the company to become the go-to procurement solution for businesses looking to streamline their workflows.
News
NASA Forms New Partnership With Saudi Space Agency
The pair will collaborate on the Center for Space Futures, advancing space tech by bringing together public and private stakeholders.
Saudi Arabia’s space industry is on the brink of substantial expansion after generating $400 million in revenue in 2022, according to a report by the Saudi Communications, Space and Technology Commission.
Now, in a new venture with NASA, plans for a “Center for Space Futures” are set to further drive the Kingdom’s aspirations of becoming a leading player in space exploration and technology.
Capturing moments from the joint delegation visit with leaders from the Saudi and American Space Agencies @NASA to @PSU_RUH, along with scenes showcasing the audience's engagement. pic.twitter.com/oB1cFTiRNl
— وكالة الفضاء السعودية (@saudispace) May 14, 2024
The partnership between NASA and Saudi Arabia goes beyond economic advantages. The pair have already cooperated on preliminary work for the Artemis II lunar mission, which is slated for a September 2025 launch and aims to land astronauts near the moon’s South Pole.
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During a visit to the capital, Riyadh, NASA Administrator Bill Nelson emphasized in a TV interview the broader objectives of the collaboration, which encompass “returning to the moon and then [to] Mars” while utilizing space exploration to glean important insights into climate change. The NASA spokesman also reiterated the space agency’s dedication to collaborating with Saudi Arabia on other future ventures.
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