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Wa’ed Ventures Pledges $100M For Early-Stage AI Startup Funding
The move aligns with Saudi Arabia’s plans to become a global AI hub, as the Kingdom anticipates a $135 billion boost to GDP by 2030.
Wa’ed Ventures, a wholly-owned subsidiary of Aramco, has announced a $100 million allocation aimed at funding early-stage artificial intelligence (AI) startups. The move aligns with Saudi Arabia’s ambitions to establish itself as a global hub for AI innovation and is part of Wa’ed Ventures’ broader mission to nurture high-potential AI technologies.
To strengthen its investment decisions and deal-sourcing, Wa’ed Ventures has assembled an advisory board of experts with backgrounds from leading institutions such as Meta, Amazon, MIT, and Oxford University. These advisors bring a wealth of experience from sectors such as AI research, policymaking, academia, and entrepreneurship, providing critical insights and support to the fund’s investment strategy.
Anas Algahtani, Acting CEO of Wa’ed Ventures, shared: “Our strategic decision to allocate funds to AI investments is rooted in a deep understanding of the Kingdom’s growing ecosystem. By fostering innovation and supporting AI startups, we aim to accelerate the development of cutting-edge technologies that will drive economic growth, improve quality of life, and position Saudi Arabia as a global leader in Artificial Intelligence”.
As part of its active portfolio development, Wa’ed Ventures has made recent investments in Rebellions, a South Korean company specializing in AI chips, and AiXplain, a California-based provider of infrastructure for accelerated AI development. These investments reflect Wa’ed’s commitment to advancing AI applications and supporting companies that can enhance Saudi Arabia’s AI capabilities.
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Wa’ed Ventures’ AI-focused initiative not only targets the growth of local entrepreneurship but also aims to localize international AI talent and technologies, fostering a robust ecosystem that aligns with Saudi Vision 2030 goals.
A recent PwC report highlights the potential economic impact of AI on Saudi Arabia, projecting that by 2030, the country could generate $135 billion from AI-related activities, accounting for approximately 12% of its Gross Domestic Product (GDP). This puts Saudi Arabia in a favorable position within the Middle East to capitalize on the transformative power of AI.
News
The Petshop Launches UAE’s First Pet Care Super App
Dubai retailer folds shopping, bookings and pet records into one mobile hub that features reminders, personalization, and more.
The Petshop has introduced a “Super App” that pulls together shopping, service bookings and pet records into a single platform, pitching it as the first integrated pet care app of its kind in the UAE.
The release turns the company’s stores, services and e-commerce operation into one connected system. Instead of juggling calls, WhatsApp chats and paper notes, customers manage everything from one account.
Each pet gets a dedicated profile. Age, diet, medical notes and behavioral traits sit in one place and update over time. For households with multiple animals, it’s a practical fix: fewer lost details, fewer repeat explanations at the counter.
That data feeds the app’s personalization. Reminders, recommendations and service options adjust to the specific pet rather than defaulting to broad prompts.
Grooming, boarding, relocation, aquatics and wellness services are booked through the same flow. Users can check availability, lock in appointments and see past visits without hopping between tools. All of the key services can be accessed and booked with a few taps.
The company says records and documents are stored with added safeguards, including verified digital paperwork for sensitive information, while usage signals trigger timely prompts without exposing private data.
“Over the past fifteen years, we’ve grown alongside the pet community in the UAE and seen how pet ownership has evolved,” said Amr Hazem Youssef, CEO of The Petshop. “For pet families, care now depends on continuity, accurate information, and services that match real life, not isolated transactions. This app brings those elements into one place with a structure that supports reliable care”.
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He added: “Pets have individual needs that change over time, and those needs shape daily decisions around routines, health, and wellbeing. By keeping information organized and connecting services within one system, we can reduce friction for pet families and deliver greater consistency across the experience.”
Founded in 2011, The Petshop now operates 11 outlets across the United Arab Emirates, including megastores in Dubai Investment Park and Abu Dhabi’s Al Reem Island, plus an online catalogue of more than 12,000 products.
The Petshop Super App is available on both the App Store and Google Play.
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