Lucidya Secures $1.3 Million Expansion Grant From Saudi Arabia’s National Technology Development Program

In a significant boost to its growth and innovation capabilities, Lucidya, a prominent AI-driven customer experience management platform within the Arab region, has been awarded a grant of SAR 5 million (approximately $1.3 million) by Saudi Arabia's National Technology Development Program (NTDP).

This financial injection is earmarked for accelerating Lucidya's expansion efforts across regional markets and further developing its product suite. By receiving this grant, Lucidya reinforces its leading status in the evolving fields of artificial intelligence and customer experience management.

The backing from NTDP, a scheme under the stewardship of the Ministry of Communications and Information Technology (MCIT) in Saudi Arabia, is part of a broader initiative to nurture high-potential tech enterprises.

It aligns with the ambitious Vision 2030 goals set by the Kingdom to propel its technology sector forward. With this grant, Lucidya is poised to scale its operations significantly, improve its range of offerings, and venture into markets outside Saudi Arabia, thereby contributing to the nation's technological advancement and economic diversification objectives.

This financial support coincides with the MCIT's roll-out of the Source Tech initiative's second phase, aimed at bolstering Saudi Arabia's digital economy. The initiative focuses on localizing the development of applications, outsourcing, and communication services, with the ultimate goal of establishing the Kingdom as a leading digital innovation hub globally. The NTDP grant to Lucidya is a testament to the country's commitment to advancing its digital infrastructure and capabilities.

Business Development Director at Lucidya, Ziyad Binsulaiman, expressed gratitude and optimism following the grant announcement, stating, "Lucidya is positioned to accelerate its growth trajectory and contribute to Saudi Arabia's vision of becoming a global leader in technology and innovation by transforming how organizations manage customer experiences. We are honored to receive this grant, which will help us expand Lucidya's innovative solutions across new markets and elevate the region's CX standards."

Lucidya's acquisition of the SAR 5 million grant from NTDP marks a critical milestone in its journey towards becoming a key player in the global tech landscape. This financial backing not only validates the company's innovative approach to customer experience management but also sets the stage for its expansion and the further development of its AI-powered platform.

As Lucidya embarks on this exciting phase of growth, it is set to make significant contributions to the digital economy of Saudi Arabia and beyond, in line with the strategic objectives of Vision 2030.