1957 Ventures and NTDP support Saudi tech startups

Updated 1 min 14 sec ago

Arab News

February 12, 2025 17:48

In a major step toward fostering innovation in financial technology, 1957 Ventures and the National Technology Development Program have signed a strategic partnership agreement at LEAP 2025. This collaboration is designed to support startups and mid-sized tech companies, strengthen the innovation ecosystem, and accelerate the growth of Saudi Arabia’s fintech sector.

Ibrahim Neyaz, CEO of NTDP, said: “At NTDP, we believe that empowering startups and SMEs is essential for the growth of the digital economy and for achieving the goals of Saudi Vision 2030. Through this agreement, we aim to provide comprehensive support, including technical advisory, funding, and access to new markets. Our customized solutions cater to different growth stages, from prototyping to full-scale market launch. This partnership is a testament to our commitment to nurturing local talent and strengthening Saudi Arabia’s technology sector.”

Emad Kashgari, CEO of 1957 Ventures, said: “This agreement reflects our deep commitment to fostering startups and building a thriving fintech entrepreneurship ecosystem. Beyond offering co-working spaces and advisory services, we are creating an integrated innovation and investment ecosystem. The success of startups hinges on access to capital, resources, and the right markets. This partnership will empower fintech startups with the tools and opportunities they need to scale both locally and regionally in a sustainable manner.”

This strategic agreement aligns with the broader efforts of 1957 Ventures and NTDP to accelerate innovation, support the growth of Saudi Arabia’s digital economy, and enhance the contribution of the technology sector to GDP. It marks a pivotal milestone in a long-term strategy aimed at creating a competitive, startup-friendly business environment that positions Saudi Arabia as a global leader in fintech innovation and digital entrepreneurship.

SUDO Consultants forges strategic alliance with Coca-Cola

Updated 7 sec ago

Arab News

February 12, 2025 17:43

SUDO Consultants forges strategic alliance with Coca-Cola

Updated 7 sec ago

Arab News

February 12, 2025 17:43

In a groundbreaking moment at LEAP 2025, SUDO Consultants announced a strategic partnership with Coca-Cola, one of the world’s most iconic and globally recognized brands. This collaboration marks a significant milestone for SUDO, reinforcing its position as a leader in cloud transformation, delivering scalable, well-architected solutions that enhance business resilience, optimize SAP environments, ensure disaster recovery readiness, and enable full cloud migration to AWS.

The agreement was formalized at the Coca-Cola office during LEAP 2025. This partnership highlights SUDO’s expertise in AWS-powered digital transformation, with a strong focus on full cloud migration, optimization, and disaster recovery strategies, ensuring Coca-Cola’s infrastructure is secure, cost-efficient, and highly scalable.

Hameedullah Khan, CEO of SUDO Consultants, and Syed Kareemuddin, IT infrastructure and cybersecurity manager at Coca-Cola, signed the agreement.

This collaboration was facilitated by Aakash Sapra from SUDO Consultants, reflecting SUDO’s ability to partner with global enterprises, offering cutting-edge AWS solutions that drive efficiency, security, and operational excellence.

By aligning with Coca-Cola’s cloud-first vision, SUDO is empowering enterprises with cloud-driven strategies that eliminate on-premise infrastructure limitations and unlock the full potential of AWS cloud adoption.

As an AWS Advanced Partner, SUDO is the preferred choice for leading enterprises because of its deep expertise in AWS migrations, SAP modernization, security, and cost optimization. Companies like Coca-Cola trust SUDO for their:

Cloud migration to AWS: Seamlessly transitioning from on-premises or hybrid infrastructure to a fully AWS-native environment.
Industry-specific AWS solutions: Delivering tailored cloud strategies to support SAP workloads, disaster recovery, and automation.
Security-first approach: Implementing robust security frameworks that comply with SAMA, NCA, and PCI DSS standards.
FinOps and cost optimization expertise: Helping businesses reduce cloud waste, optimize AWS spending, and maximize ROI.
Proven track record with global and regional enterprises: Successfully migrating and securing cloud workloads, ensuring high availability and performance.
End-to-end digital transformation: From consultation to deployment, automation, and continuous cloud management.

As SUDO Consultants celebrates this landmark collaboration, the company remains committed to helping enterprises transition seamlessly to AWS, modernize their IT landscapes, and ensure long-term cloud success. This partnership is not just an agreement— it’s a step toward enabling Coca-Cola’s future-ready cloud transformation with scalability, security, and cost efficiency at its core.

Takamol Ventures helps MEA startups to turbocharge growth

Updated 12 February 2025

Arab News

February 12, 2025 15:42

Takamol Ventures helps MEA startups to turbocharge growth

Updated 12 February 2025

Arab News

February 12, 2025 15:42

Takamol Ventures, the investment arm of Takamol, invests in tech startups across the MEA region. With a sector-agnostic approach within the broader technology space, Takamol Ventures invests in cutting-edge technologies to enhance Takamol’s contributions to this promising sector and contribute to the Kingdom’s evolving digital economy.

Launched during LEAP last year with a SR200 million ($53.3 million) fund, Takamol Ventures has made significant strides in fostering innovation. The firm joined the NVIDIA VC alliance program to closely collaborate with NVIDIA and fellow alliance members to drive innovation and support startups in shaping the future of technology. Additionally, it has forged a strategic collaboration with Plug and Play, focusing on deal flow, mentorship, and knowledge sharing.

As a strategic partner, Takamol Ventures goes beyond capital by providing portfolio companies with direct access to Takamol’s vast resources, industry expertise, and extensive network of partners and clients. The unique positioning allows startups to accelerate their growth while creating synergies with Takamol’s existing operations.

Takamol Ventures serves as an inorganic growth engine for its parent company, enabling it to tap into new technologies, expand into new markets, and drive strategic innovation.

Since its inception, Takamol Ventures has successfully closed two investments, one in the fintech space and the other in AI, both of which are recognized as category leaders in their respective domains.

Saudi Arabia’s venture capital ecosystem has evolved rapidly over the past decade, driven by Vision 2030, government-backed initiatives, and increasing investor interest.

A key catalyst was the establishment of the Saudi Venture Capital Company in 2018, which has backed over 54 funds and 800+ startups.

The LEAP tech event has further accelerated this momentum, attracting global investors and facilitating deals worth $11.9 billion in 2024. International collaboration is growing, complementing strong local investment activity.

The Nomu market has opened new exit opportunities for VC-backed startups, providing much-needed liquidity. A key milestone was Jahez’s listing in January 2022, making it the first tech company to go public on Nomu — setting a precedent for other startups.

Regulatory initiatives such as SAMA and CMA’s sandboxes, have played a crucial role in fostering a dynamic fintech ecosystem by lowering entry barriers, encouraging innovation, and boosting investor confidence.

Saudi Arabia’s VC landscape continues to strengthen through government-backed funds like SVC, improved regulations, and global tech events like LEAP, leading to the rise of homegrown unicorns and increasing participation from top-tier global investors like Sequoia Capital and General Catalyst.

With sustained government support and a rapidly maturing startup ecosystem, Saudi Arabia is positioning itself as a leading innovation and investment hub in the region.

stc to advance gen AI innovation in region with Cohere

Updated 12 February 2025

Arab News

February 12, 2025 09:31

stc to advance gen AI innovation in region with Cohere

Updated 12 February 2025

Arab News

February 12, 2025 09:31

stc Group, the region’s leading digital enabler, has announced a strategic collaboration with Cohere, a secure enterprise AI company, to transform the AI landscape in the Middle East and beyond. This collaboration is set to redefine stc’s AI-driven operations, enhance customer engagement, and unlock new digital growth opportunities through state-of-the-art AI solutions.

Under the collaboration, stc will leverage Cohere’s cutting-edge AI capabilities to develop transformative products as part of its internal gen AI initiative. The joint effort will focus on key AI-powered innovations, including stc’s AI-powered language model and the Digital Co-Workers Foundry, designed to optimize business efficiency and deliver a superior digital experience for customers.

As part of the efforts, stc will work with Cohere to develop North for Telecom, a customized version of Cohere’s North, a secure AI workspace platform announced earlier this year. North for Telecom will be tailored to address the unique needs of the sector, providing intelligent automation, enhanced conversational experiences, and real-time data insights. Meanwhile, the Digital Co-Workers Foundry will introduce AI-driven virtual assistants designed to streamline workflows, boost productivity, and support stc’s workforce with intelligent automation solutions.

“As a leader in digital transformation, stc continues to invest in advanced AI technologies that will shape the future of our industry. Our collaboration with Cohere represents a significant milestone in our AI journey, reinforcing our vision to harness AI-driven intelligence, enhance operational capabilities, and introduce innovative AI solutions that create tangible value,” said Haithem Mohammed Alfaraj, group chief technology officer at stc Group.

Motaz Alangari, group chief investment officer at stc Group, added: “stc Group strategically invests in pioneering companies that unlock access to transformative technologies, new business models, and enhanced revenue streams. This collaboration aligns with tali ventures, stc’s corporate venture capital arm, which plays a key role in fostering technological advancement and investing in next-generation innovations that complement stc’s digital ecosystem.

“Cohere is a global leader in secure enterprise AI, and our investment in this collaboration facilitates access to enterprise-grade AI solutions, positioning stc to maximize AI’s potential across its product and service offerings.”

Cohere will bring its expertise in enterprise AI models and applications to stc’s ecosystem, ensuring faster adoption and optimization of AI capabilities across stc’s digital infrastructure.

“It’s been great working closely with stc’s team,” said Aidan Gomez, Cohere’s co-founder and CEO. “I’m really excited to bring our secure AI technology to enhance its role as a digital enabler. We look forward to collaborating with stc and integrating Cohere’s enterprise AI solutions to lift grunt work off the backs of their employees so they can focus more on the areas of their jobs where they can add real value.”

This collaboration underscores stc’s commitment to being at the forefront of AI-driven innovation, fostering a digital-first economy, and shaping the future of intelligent technology in Saudi Arabia and beyond.

Cenomi Centers taps Tawal to boost indoor mobile coverage in malls

Updated 12 February 2025

Arab News

February 12, 2025 09:10

Cenomi Centers taps Tawal to boost indoor mobile coverage in malls

Updated 12 February 2025

Arab News

February 12, 2025 09:10

Cenomi Centers, the leading owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, announced during the LEAP 25 conference that it is partnering with telecommunications infrastructure provider Tawal to implement cutting-edge indoor cellular coverage across its retail properties. Cenomi Centers announced this step forward in digital connectivity as world leaders in technology gather in Saudi Arabia to discuss the ever-changing technology landscape.

This move will bring seamless, high-speed connectivity for visitors, tenants and mall operators across Cenomi Centers’ entire portfolio of 22 assets, including over 4,500 stores across 10 major Saudi cities. The network will cover various mobile service providers, ensuring maximum impact for all users.

The implementation of a wireless connectivity network is consistent with Cenomi Centers’ commitment to providing a premium visitor experience, empowering customers with easy connectivity for browsing, navigation and online purchases. It also fits into Cenomi Centers’ vision for digital malls, bringing together technology and shopping experiences to create a connected environment that drives footfall.

This infrastructure will be future-ready, supporting emerging technologies like 5G, the Internet of Things and smart solutions. This is an investment that will ensure Cenomi Centers’ portfolio will be the best retail and lifestyle destinations not just for today, but for tomorrow.

Alison Rehill-Erguven, CEO, Cenomi Centers, said: “At Cenomi Centers, we are thrilled to partner with Tawal to offer the best connectivity to our customers. We know that the future of retail is in omnichannel experiences, and we want to ensure that both our customers and our tenants are able to engage with each other across as many mediums as possible, reinforcing our experiential approach to shopping. We are grateful to Tawal for its partnership and look forward to working together in the years to come.”

Mohammed Alhakbani, CEO, Tawal, said: “Tawal is enthusiastic about this agreement to offer state-of-the-art telecommunications infrastructure across all of Cenomi Centers’ properties. This is an important step toward guaranteeing high-quality cellular coverage for everyone, wherever they need it, ultimately serving to connect people and improve their daily lives.”

Tawal and Cenomi Centers share a dedication to empowering shoppers to connect with each other and enjoy the best retail experiences in the world. This commitment, partnering the Kingdom’s premiere shopping properties with the best telecommunications technologies, will position both partners, alongside their customers, to thrive in the years to come.

Cisco advances AI to support Saudi Arabia’s digitization goals

Updated 11 February 2025

Arab News

February 11, 2025 23:08

Cisco advances AI to support Saudi Arabia’s digitization goals

Updated 11 February 2025

Arab News

February 11, 2025 23:08

At LEAP 2025, Cisco, a global leader in networking and security, unveiled a series of strategic initiatives to advance AI in partnership with the Kingdom. By introducing advanced cloud data centers, AI talent development, and phased plans for local manufacturing, Cisco is deepening its commitment and strengthening its partnership with Saudi Arabia. These initiatives are designed to enhance Cisco’s regional presence and support the Kingdom’s ambitious digitization goals under Vision 2030, accelerating its evolution into a technology-driven economy.

“Our partnership with Cisco highlights the Kingdom’s commitment to accelerating its digital economy through innovation. These initiatives will enhance Saudi Arabia’s competitiveness both regionally and internationally by promoting innovation and the adoption of AI and cloud computing technologies.” said Vice Minister at the Saudi Ministry of Communications and IT Haytham Alohali.

“Cisco is proud to partner with the Kingdom to accelerate its Vision 2030,” said Cisco Chair and CEO Chuck Robbins. “Through our investments and innovation, we are protecting organizations, preparing the Saudi workforce for the AI era, and contributing to the local economy and manufacturing ecosystem. Together, we will pave the way for a more connected and secure future.”

“By aligning with key initiatives of Vision 2030, Cisco is committed to being a catalyst for digital transformation across various sectors in the Kingdom. As these projects advance, they will help strengthen digital infrastructure and drive economic growth to positively shape Saudi Arabia’s future,” said Salman Faqeeh, managing director, Cisco Saudi Arabia.

Delivering on its commitment, Cisco announced that its data centers for cloud security services as well as the Webex Collaboration Platform are now operational.

The security data center underpins Cisco’s cloud-based security services including its new secure service edge solution, Cisco Secure Access and Umbrella DNS. The center helps customers protect their users, infrastructure, and investments against threat actors and empowers them with flexible security services and data protection for devices, remote users, and distributed locations.

The collaboration data centers bring extensive services from the Webex suite such as meetings and calling closer to customers in the Kingdom and region.

Cisco will continue to advance AI and digital skills across the region as part of its Country Digital Acceleration program, aligning with the goals of the Saudi Research and Development National Strategy. In collaboration with King Abdulaziz City for Science and Technology, the company will invest in additional Cisco Certified Internetwork Expert certifications, one of the industry’s most widely recognized and respected certifications, to enhance the Kingdom’s talent pool of highly skilled local IT professionals that can support complex networking infrastructures in the AI era.

Initially launched in the Kingdom in 2016, Cisco’s CDA program supports digitization efforts across key industries, fostering digital skills and developing the innovation ecosystem in the country. To date, the program has implemented more than 20 projects of national impact across vital sectors.

With a regional head office in Riyadh, Cisco intends to build on its long-standing partnerships in the Kingdom by initiating a manufacturing base, with groundwork beginning in 2025. The initial phase will focus on fulfillment operations for wireless technologies to meet local demand, with the intent to scale up in response to evolving market needs.

1957 Ventures and NTDP support Saudi tech startups