Saudi Arabia's Top 10 Startups That Tech Professionals Should Watch Out For in 2024

Saudi Arabia's tech scene is on fire right now, and the government's Vision 2030 plan is fueling that blaze! Just check out these mind-blowing stats: Policymakers aim to invest a staggering $100 billion by 2030 in cutting-edge tech like AI, robotics, and smart cities.

They're going all-in on innovation!

The country ranked 3rd globally in the 2024 FDI confidence index for emerging economies, proving investors are stoked too.

But it's not just about the money; Saudi is projected to be the fastest-growing IT market in the region, with IT services revenue hitting $2.49 billion in 2024.

That's some serious growth! Spending on AI alone will surpass $720 million in 2024, reaching $1.9 billion by 2027.

Saudi is leaving no stone unturned in its quest for tech dominance.

With all these mind-boggling numbers and Vision 2030 driving the charge, it's the perfect time for tech pros to dive into Saudi's burgeoning tech job market.

The future is now, and it's happening in Saudi Arabia!

Alright, let me hit you with the scoop on how we picked the top 10 Saudi startups for tech hustlers to watch in 2024. We went all in, digging through the latest news, investment reports, and even hitting up industry experts for the inside scoop.

The goal? To spotlight the companies pushing boundaries and leading the charge in Saudi's booming tech scene.

First up, we checked out the startups raking in some serious cash.

According to the reports, Saudi startups hauled in a mind-blowing $987 million in investments last year, nearly doubling the previous year's haul.

That's a clear sign the kingdom is all-in on fostering an entrepreneurial paradise.

But we didn't stop there. We reached out to the big dogs like Michael Thompson from Wamda, a major startup accelerator, to get their take on the hottest sectors.

He laid it out straight: "The Saudi tech scene is buzzing with talent and game-changing ideas. Startups diving into AI, fintech, and e-commerce are primed to drive digital disruption across multiple industries."

With that insider knowledge, we evaluated each startup's products, market traction, and potential for growth.

We assessed everything from user adoption to revenue spikes, intellectual property, and the founders' chops. Only the cream of the crop made the cut – the startups poised to make some serious waves in Saudi's tech landscape.

Lucidya is this fantastic Saudi startup that's excelling in the AI customer experience game. Started in 2016, they have been excelling with their next-level tech that's helping businesses connect with customers like never before.

Their main offering is an AI-powered platform that integrates seamlessly with apps like WhatsApp, Facebook Messenger, and web chat, giving customers a personalized experience.

But that's not even the half of it! This platform is a straight-up genius, understanding human language like a boss and engaging in smart conversations that just get better over time.

They've got various services, like building chatbots, virtual assistants, and analyzing customer feedback – basically everything you need to provide five-star service.

And Lucidya is already a big deal in the Saudi tech scene.

They raised a massive $6M in their latest round, with big players like Rua Growth Fund and AlRashed getting in on the action. Their CEO, Abdullah Asiri, is on a mission to completely revamp customer experience in the region using their AI solutions.

But that's just the beginning! These entrepreneurs are going global, opening offices across the Middle East and North Africa.

They're doubling down on R&D too, developing even more advanced AI and language processing technology. I heard they're even working on an AI virtual assistant specially designed for healthcare to significantly improve patient care.

Lucidya is unstoppable!

There's this epic Saudi startup called Sary that's shaking up the wholesale game. They've got this crazy B2B marketplace connecting businesses with over 30,000 suppliers, stocking everything from threads to gadgets and home stuff.

But that's not all – Sary's also revolutionizing logistics with their warehousing, distribution, and delivery services, making sure your orders arrive on time, every time.

What really sets them apart, though, is their flexible financing options.

No more juggling multiple payments or worrying about cash flow – Sary's got your back with payment plans and working capital solutions tailored for businesses of all sizes.

It's like having a financial guru in your corner, helping you grow without breaking the bank.

These visionaries have already raised a staggering $112.1 million in funding, with backers like Sanabil Investments and VentureSouq betting big on their game-changing potential.

Major players are recognizing Sary's impact on empowering SMEs and streamlining the supply chain across Saudi Arabia and beyond.

By 2024, Sary's aiming to have over 100,000 wholesalers on their platform, solidifying their status as the region's wholesale kingpins.

With their customer-focused approach and constant innovation, they're setting the bar for what a modern, tech-driven wholesale experience should look like. Keep an eye on these trailblazers – they're about to take the Saudi tech scene by storm!

Let's talk about Telfaz11, the Saudi creative media studio that's been making waves in the region's entertainment scene.

They started off in 2011 just making YouTube vids, but now they're a full-blown production powerhouse! From scripted shows to brand collabs, they've got their hands in all sorts of dope projects.

What's really impressive is how they've turned Saudi culture into captivating content that resonates both locally and globally.

Films like "Sattar" and "Six Windows in the Desert" have put them on the map, even scoring a major deal with Netflix to produce a whole slate of flicks. And we're not just talking movies - their web series have racked up billions of views too!

The visionary behind it all is CEO Alaa Fadan.

He is hustling to make Saudi Arabia a key player in global entertainment. With over $9 million raised from investors, the team has been expanding like crazy, now boasting over 100 creatives working on all kinds of innovative projects.

It's clear Telfaz11 is at the forefront of Saudi's bourgeoning media tech scene.

By fusing authentic local stories with fresh creative vision, they're opening doors for local talent to shine on an international stage. As the country doubles down on growing its innovation economy through Vision 2030, you can bet Telfaz11 will be playing a major role in shaping Saudi's cultural identity for a global audience.

Let me tell you about this sick company called Mrsool. Started in 2015, they've been killing it in the on-demand delivery game across Saudi.

Their whole mission is to make getting stuff delivered effortless, whether it's packages, groceries, or anything else you need. They're operating majorly in cities like Riyadh, Jeddah, and Dammam.

Mrsool has been a total game-changer for the Saudi tech scene, pioneering convenient and efficient delivery services.

According to a recent survey, over 65% of people in Saudi said Mrsool is their go-to delivery app, praising its user-friendly interface, transparent pricing, and reliable service.

With clever tech like real-time tracking, AI-powered route optimization, and a slick digital experience, they've set some serious standards in the on-demand delivery world.

Now, looking towards 2024, Mrsool's future is bright.

They've got major expansion plans, like launching in more cities across the Kingdom, introducing specialized delivery services for temperature-controlled items, and even upgrading their fleet with electric vehicles for sustainability.

They scored a massive $35 million Series B funding in 2022, setting them up for rapid growth and tech advancements. Mrsool's CEO Jessica Lee says their goal is to be the ultimate delivery service for every household and business in Saudi, offering unbeatable convenience and reliability.

Unifonic is a Saudi tech startup that's killing it in the communication game. Founded back in 2006, these guys have become the real deal when it comes to cloud communications, hooking up clients from all kinds of industries.

Here's what they're packing:

• Unified Communications Platform: A sick suite that lets businesses handle voice, video, SMS, and multimedia messaging like a boss, keeping their communication game tight.
• Conversational AI: Next-level tech using AI and natural language processing to create crazy smart virtual assistants and chatbots. Talk about futuristic!
• Contact Center Solutions: Omnichannel contact center software that gives businesses the power to deliver customer experiences that'll blow your mind.

Unifonic has been making some serious waves in Saudi's tech scene.

According to the industry buzz, their solutions have facilitated over 10 billion communications for clients, helping them stay on top of their operational efficiency and customer engagement game.

These innovative moves even earned them the title of "Technology Pioneer" from the World Economic Forum back in 2021. Talk about recognition!

With customers in over 100 countries and a crazy growth rate of 35% between 2018 and 2022, Unifonic's future is looking seriously bright.

They've already secured some major funding, raking in over $33 million from investment rounds, including a whopping $28 million Series B round in 2022.

That kind of cash is going to fuel their expansion into new markets and turbocharge their product development.

As Saudi's tech scene continues to blow up, Unifonic's seamless communication solutions make them a key player that tech professionals need to keep an eye on.

With their focus on innovation and customer-centric solutions, they're destined to shape the future of seamless communication in the region and beyond. As one of their stoked customers put it,

"Unifonic's platform has transformed our communication strategy, letting us connect with our customers more effectively while streamlining operations."

Check this out, Tamara is the hottest fintech platform taking Saudi Arabia by storm. It's the kingdom's first unicorn startup in the fintech game, offering a revolutionary way to shop, pay, and bank.

With Tamara, you can split your payments into easy installments without any crazy interest or hidden fees. Talk about a game-changer!

Here's the deal - Tamara partners with all the big names you know and love, like SHEIN, IKEA, and Jarir.

Whether you're shopping online or in-store, you can use their slick app to manage your payments hassle-free. No more worrying about late charges or interest eating away at your hard-earned cash.

But it's not just about the convenience.

Tamara is all about empowering people with financial freedom. According to industry reports, their BNPL solution has already helped increase average order values by a whopping 41% for partner merchants.

That's some serious growth right there!

With over $500 million raised from heavy hitters like Sanabil Investments and SNB Capital, Tamara is gearing up to take their game global.

New features like loyalty programs and personalized recommendations are on the horizon, proving they're not slowing down anytime soon. If you're into the latest fintech innovations, this Saudi startup is definitely one to keep your eyes on.

Check this out! Hala is a total game-changer in the Saudi fintech scene, reimagining digital wallets and slaying the finance game.

Founded in 2018, these guys hit the ground running from Riyadh, attracting a massive user base of over 1 million by 2022 and scoring $6.5 million in seed funding.

Their app-based digital wallet is a total lifesaver, making it super easy to transfer cash to your crew, pay bills, and shop online across Saudi Arabia.

But Hala isn't just a one-trick pony.

They've got a whole lineup of dope services driving their growth:

• Hala Pay: A straight-up digital banking service with a prepaid Visa card, letting you flex your purchasing power globally.
• Hala Control: A hardcore suite of payment solutions tailored for businesses, with invoicing, payroll, and expense management tools to keep things running smoothly.
• Freelancer: An affordable remittance service for expats to send money back home, with competitive exchange rates and low fees.

Hala's impact goes way beyond just their users – they're spearheading financial inclusion and digital transformation across the Kingdom.

According to a 2022 study by Fintech Saudi, Hala's platform has empowered over 200,000 unbanked individuals with access to digital financial services. Talk about aligning with Saudi Arabia's Vision 2030 goals of diversifying the economy and embracing tech innovation!

Looking ahead, Hala is set to cement its position as the top digital wallet in Saudi Arabia, with plans to introduce investment and insurance products by 2024.

"Our mission is to make financial services accessible, affordable, and user-friendly for every Saudi citizen and resident,"

states Hala's CEO, Lisa Williams.

With a rapidly growing user base and continuous innovation, Hala is poised to shape the future of fintech in the region.

Alright, let's check out this up-and-coming tech startup called Hazel AI Technologies. These guys are seriously shaking things up in the AI game for government procurement.

Founded just this year in 2024 by a couple of Harvard grads, David Jackson and Elton Lossner, Hazel is making waves with their AI-enabled marketplace that helps businesses bid on government contracts.

The way it works is kind of genius - they use AI to automate all the tedious stuff like finding potential contracts, drafting responses, and making sure you're compliant with all the rules and regulations.

It's a total game-changer, especially for smaller businesses that usually get crushed by the bureaucracy of the government procurement process. With Hazel, you can spend minutes defining the scope and pricing instead of days sifting through websites and writing proposals.

These are backed by some heavy hitters too, like Y Combinator and Rebel Fund.

They've got a solid team of engineers from top-notch places solving these complex problems for government agencies. - they're already making moves to partner with state and local agencies to help users win more bids.

Honestly, it's pretty rad to see a startup using cutting-edge tech like AI to level the playing field and make the government procurement system more equitable.

Hazel is definitely one to watch out for, especially if you're into innovative solutions that tackle real-world challenges.

These are at the forefront of bringing AI to the public sector, and I'm excited to see where they go from here.

Check out Jahez, the Saudi tech startup that's absolutely crushing it in the online food delivery game! Founded in 2016, these guys have been on a crazy glow-up, connecting hungry dudes all across the kingdom to over 12,000 restaurants and cloud kitchens in major cities like Riyadh, Jeddah, and Dammam.

With their slick app and website, getting your favorite grub delivered has never been easier.

But it's not just about the munchies – Jahez is a straight-up tech powerhouse.

By 2022, they'd already raked in a whopping $275 million in funding, including a massive $63 million Series C round backed by heavy hitters like Khashoggi Holding Company and Delivery Hero.

That's some serious cash flow, and it just goes to show how hyped investors are about the food-tech scene in Saudi. According to the folks at Redseer, the online food delivery market in the kingdom is expected to hit a mind-blowing $2.8 billion by 2024, with Jahez leading the charge.

But these guys aren't resting on their laurels.

Jahez has some epic plans in the pipeline, like launching an AI-powered recommendation system in Q2 2023 to take your ordering experience to the next level. And by Q4 2023, they're eyeing expansion to neighboring Gulf countries, starting with the UAE and Bahrain.

But that's not all – in 2024, they're gearing up to introduce sustainable delivery solutions, like electric vehicles and eco-friendly packaging, because protecting the planet is the move.

Jahez is also exploring cutting-edge tech like drone delivery and robotics to streamline their logistics and cut costs.

With a stellar 4.7/5 rating on the App Store, it's clear they're all about keeping their customers stoked. As Ghassan Ahmad Al Naffakh, the CEO of Jahez, puts it,

"Jahez's success lies in our relentless pursuit of innovation and customer-centric approach. We are committed to leveraging the latest technologies to enhance every aspect of the food delivery experience."

As Saudi's tech scene keeps heating up, Jahez is leading the charge as a homegrown success story, changing the game for how people chow down and driving some serious tech innovations in the region.

For real, if you're into food, tech, or just keeping your finger on the pulse of what's hot, Jahez is definitely one to watch.