LEAP25 Conference Day 3 Highlights $1.79 Billion In Technology Investments And Innovations

The third day of the LEAP25 conference showcased significant investments from major tech firms and startups, highlighting Saudi Arabia's role as a regional tech hub. Investments announced amounted to $1.79 billion, focusing on digital talent, AI, cloud computing, and infrastructure. The Communications, Space, and Technology Commission (CST) introduced the third cohort of the Emerging Technology Regulatory Sandbox to support innovators in testing new technologies.

Equinix revealed plans for the region's largest cloud-computing data centre with over $1 billion invested, reinforcing Saudi Arabia's global position in cloud services. White Helmets launched "Asif," an AI agent designed to improve construction project efficiency. Hands On Global Management announced a $300 million fund for local and international game development and distribution, alongside plans for a new headquarters in the Kingdom.

The National Technology Development Program (NTDP) introduced accelerators and funding worth $150 million to boost IT sector innovation and startup growth in Saudi Arabia. Joa Capital partnered with Buildnow Trading to launch an $80 million infrastructure fund aimed at supporting the Kingdom's construction sector. Ula Capital unveiled a $75 million fund dedicated to applied AI and deep tech projects.

Sharaka Financial initiated a $30 million investment fund to aid startup growth across the Middle East and North Africa. Orbit Startups, together with Sanabil Investments, launched a $60 million accelerator program targeting 200 early-stage tech startups. These initiatives aim to solidify Saudi Arabia's leadership in technological innovation.

Merit successfully completed its Series B funding round, raising $28 million to enhance its tech solutions globally. UltiAcademy secured another $28 million in Series B funding led by Rua Ventures, with participation from the Jordan Investment Fund. This investment will facilitate expansion within the Kingdom and launch an AI-powered digital learning platform.

BRKZ closed its second Series A funding phase with $22.5 million to advance smart construction technology supporting smart-city projects in Saudi Arabia. Buildnow raised $9.76 million led by Arbah and STV to improve digital solutions for construction supply chains across MENA.

Talent Development Initiatives

Microsoft partnered with the National Academy of Information Technology to establish the region’s first data-centre academy offering AI programs. Huawei expanded its digital talent investments by launching the AI Knowledge Hub aiming to train 25,000 individuals through lifelong learning initiatives.

Accenture opened its first regional academy focusing on cybersecurity, data and AI, digital engineering, manufacturing, and emerging technologies with a goal of training 15,000 people. Atomcamp launched a regional academy targeting advanced education in data science and AI aiming to train 20,000 individuals in Saudi Arabia.

Torod company concluded its Series A funding round raising $11.3 million led by Waed company for developing an AI-powered logistics agent. Hydratac Inc. invested $3 million into Hands On Global Management’s fund for military shooting simulation games enhancing interactive experiences in gaming.

With inputs from SPA