KAUST-Backed Startups Surpass USD 1 Billion in Funding

KAUST startups surpass $1B in total funding, generating jobs and revenue as Saudi deep tech accelerates under Vision 2030 with strong global investor confidence.

Startups supported by the King Abdullah University of Science and Technology (KAUST) have officially crossed the USD 1 billion investment milestone, marking a significant moment for Saudi Arabia’s fast-growing deep tech sector. According to the company, its portfolio has also generated USD 925 million in revenue, created 6,661 jobs, and now holds a combined valuation exceeding USD 2 billion.

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Ian Campbell, Senior Vice President of the KAUST National Transformation Institute, described the achievement as a signal of the Kingdom’s rising global competitiveness.
“Crossing the US$1 billion investment threshold is more than a milestone; it is proof that Saudi deep tech is globally competitive,” he said.

In 2024 alone, KAUST-backed companies secured USD 150 million, reflecting strengthened investor confidence in Saudi Arabia’s innovation landscape. The university’s Innovation Ventures arm continues to focus on co-investments with local and international venture capital firms to scale its developed technologies globally.

Campbell added, “Through its Innovation Ventures, we are transforming world-class research into world-class companies, advancing Vision 2030 by empowering entrepreneurs, creating jobs, and attracting global investment.”

Two portfolio companies demonstrating strong international expansion include:

• Rimrubber — an on-demand tire sales and fitting service now operating in Saudi Arabia, Bahrain, Qatar, and the UAE.
• iStoria — an English learning platform for non-native speakers, with users across Europe, Latin America, and the Middle East.

These milestones were highlighted at SPECTRUM 2025, KAUST Innovation Ecosystem’s flagship startup and investor gathering held in Riyadh. The event was hosted in partnership with Wa’ed Ventures, 500 Global, Antler, Impact46, and The Garage.

As Saudi Arabia accelerates its Vision 2030 transformation, KAUST affirmed its commitment to strengthening the national innovation engine by developing talent, commercializing research, and drawing in global investors.

Haitham Alhumsi, Director of the KAUST Innovation Ecosystem, emphasised the long-term impact of the university’s startups,  “The impact of KAUST startups goes far beyond funding: they’re building industries, jobs, and global connections that will define the next decade of Saudi innovation.”