KSA's Wadi Makkah Ventures invests in Tarteel and Bab Makkah
Saudi Arabia-based Wadi Makkah Ventures has invested 250K SAR ($65K) in a Pre-Series A round for Bab Makkah, as well as 200K SAR ($55K) in a Seed round for Tarteel.
Bab Makkah provides services in the retail sector through its online platform where it displays products made in Mecca and Medina inspired by the heart of Islamic culture. It also assists local suppliers to achieve the spread and expansion of serving its target segment at the local, regional, and global levels through various sales channels. The startup aims to serve Hajj pilgrims, Umrah performers, and those wishing to acquire unique, locally-made products in numerous parts of the world.
Bab Makkah is among the graduates of Wadi Makkah’s Business Incubator Program “Nomow” - a program designed to provide services that help startups financially and non-financially.
Tarteel is an assistive technology-based startup that has invented an electronic device that helps the visually impaired to read the Noble Quran in Braille with ease. The small size of the device is an alternative to the six large and heavy volumes of the Quran printed in Braille. The device contains 20 braille cells, with each cell consisting of six raised dots, and digital buttons for turning on and off, in addition to the ease of selecting the pages by entering its number. It is also possible to move between the lines and sentences.
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Wadi Makkah Ventures is one of the subsidiaries of Wadi Makkah Technology Company and is determined to provide various investment programs in an integrated manner to serve the entrepreneurial environment and community. This is to achieve its aspiration to support the local economy and to enrich it in accordance with the vision of the Kingdom of Saudi Arabia 2030. Wadi Makkah Ventures is working to diversify its investments in technology startups in various local and international fields, particularly those interested in the Hajj and Umrah sector.
The VC's Seed fund is one of three funds owned by Wadi Makkah Ventures. Dr. Faisal bin Ahmed Allaf, CEO and member of the Investment Committee commented, “Wadi Makkah Ventures aims to diversify its investments in local and international startups in their various stages through multiple programs; Seed, Pre & Series-A, thus realizing the goal and vision of Wadi Makkah Ventures to achieve the vision of the Kingdom of Saudi Arabia 2030.”
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