Riyadh's Lucidya Raises $30 Million In Historic AI Funding Round In MENA

MENA's AI landscape has seen a significant boost with Lucidya securing a $30 million Series B investment, marking a record for AI funding in the region. This substantial financial backing is spearheaded by Impact46, a Saudi VC known for leading companies like Jahez and Rasan to IPOs.

The funding round also saw contributions from new backers such as Wa'ed Ventures, the investment arm of Aramco, Takamol Ventures, a government-supported digital innovation advocate, and SparkLabs. Additionally, the Rua Growth Fund and ARG reaffirmed their support by investing once again, demonstrating strong belief in Lucidya's future growth.

Lucidya, established in 2016 and receiving VC support since 2019, is recognized as a trailblazer in AI within the MENA region. The company operates across 11 countries, offering its services to various sectors, including telecom, BFSI, hospitality, healthcare, and the public sector. These clients have a combined market capitalisation exceeding $250 billion and cater to over 75 million customers and citizens throughout the region. Lucidya's innovative solutions are aimed at elevating customer and citizen experiences alike.

Eng. Abdullah Alswaha, the Minister of Communications and Information Technology, extended his congratulations to Lucidya during a visit to their headquarters in Riyadh. This gesture underscores the government's support for the region's tech advancements and innovations.

Abdullah Asiri, CEO and Founder of Lucidya, shared insights on the company's journey, stating, "We bet on AI back in 2016, long before it became a boardroom buzzword. That early conviction is now paying off as we become the trusted, regional AI partner for CX."

Lucidya's platform is underpinned by a proprietary Arabic-language AI engine that boasts an impressive +92% accuracy rate. This technological foundation allows the company to deliver deep insights, intelligent engagement, and automation across various customer interaction points, setting a high industry standard.

The recent investment will enable Lucidya to enhance its AI Agent offering, which aims to transform customer-facing roles into a digital workforce. This initiative will automate and personalize engagement in areas such as support, marketing, sales, and overall customer experience, while also reducing costs and ensuring adherence to regulations like PDPL.

Asiri emphasised the significance of this expansion, saying, "By expanding into AI Agents, we're tapping into the region's labor economy, turning workforce costs into scalable, compliant AI capacity."

Impact46 Partner, Basmah Alsinaidi, expressed enthusiasm for the partnership, stating, "Lucidya is exactly the kind of company we look to back—founders solving real regional challenges with defensible tech and bold ambition."

She highlighted Lucidya's expertise in creating Arabic-first AI solutions and its strong performance with top-tier enterprises as key factors that position the company as a future leader in its category.