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Retail Enablement Company Zid Raises $50 Million

Saudi-based retail enablement company, Zid, has successfully raised $50 million in a funding drive led by IMPACT46.

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retail enablement company zid raises $50 million

Zid, the Saudi Arabian retail enablement company, has seen investment from the likes of Aramco venture capital arm (Waed Ventures) and Endeavor Catalyst in a recent round of fundraising, led by IMPACT46, paving the way for future expansion into new markets and helping to further modernize the retail sector.

The recent funding comes after a string of successes for Zid, after the company doubled its revenues from both subscriptions and transactions, as well as seeing a 50% increase in orders, with 7 million users now having made transactions through the platform.

Zid was created to enable merchants to grow their online selling channels. It is now taking on a broader mission to modernize the entire retail sector, improving efficiencies and helping business owners increase their profits.

The company has rolled out solutions enabling retailers to improve both shipping (ZidShip) and payments (ZidPay) and plans to offer financial and cross-border shipping products in the near future.

Also Read: Aramex Has Successfully Tested Drone Deliveries In Oman

“We appreciate the continuous belief and trust that our investors have put into the company, the leadership, and the team. We are focused on being the regional optimum solution for each economy we operate in, having proved it in Saudi Arabia,” says Sultan AlAsmi, Co-founder and CEO of Zid.

Like international giants such as Shopify, Zid is building a community that enables merchants to master online selling with a full-fledged eCommerce ecosystem equipped with sophisticated features. Unlike larger corporations, however, Zid is focused on fostering deep connections with merchants and strengthening the community as a whole. After completing the recent round of funding with help from asset management and advisory organization IMPACT46, the future looks bright for this progressive retail enablement company.

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Lebanese Newspaper Builds AI President To Beat Political Crisis

The move by media outlet AnNahar comes after 13 failed attempts by the Lebanese parliament to elect a new leader.

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lebanese newspaper builds ai president to beat political crisis
OurPresident.ai

In a world first, Lebanon’s AnNahar Newspaper has built an artificial intelligence model designed to carry out presidential duties for the politically troubled country. Lebanon has been without a sitting president for two years after thirteen failed attempts by the nation’s parliament to elect a suitable candidate.

The new AI President’s deep learning algorithm was fed over 90 years of impartial journalism from AnNahar’s archive stretching back to the 1930s. The AI leader analyzes not only historical data but also current events and is able to formulate solutions for all manner of political, legal, and governmental questions. By tapping into such a vast knowledge base, Lebanon’s AI President will have a deep understanding of the country’s past, as well as an unbiased take on the challenges the nation faces going forward.

lebanon our president ai platform annahar

The new AI President was unveiled in a recent live broadcast. Nayla Tueni, editor-in-chief of AnNahar Newspaper conducted an interview with the digital leader, asking relevant questions about the current state of Lebanon, and how to fix the country’s difficult political situation. AnNahar has also converted its print newspaper to focus entirely on the new president’s guidance on issues spanning everything from the economy to sustainability and the environment.

Also Read: Abu Dhabi To Develop $1 Billion eSports Island Facility

After the interview, Nayla Tueni commented: “As Lebanese people, and especially at AnNahar, we refuse to sit back and allow things to go on as they have. To not have a president for this long is unacceptable and has impacted the country negatively. If the parliament will not do its job to elect a president, then the people will bring to Lebanon a president”.

The AI President will soon be accessible to everyone at OurPresident.ai, Users will be able to ask questions in a similar manner to the likes of ChatGPT and Google Gemini. It is also understood that government officials will also use the tool to help devise new directives.

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