"Aramco" expands by investing in chips, artificial intelligence and space

The compass of the “Promatics of the Venevias” fund, the arm of the Saudi Aramco business for daring investment, is mainly on the way to focus on semiconductor sectors, spacecraft, artificial intelligence, cyber security, sustainability and biotechnology, according to Fahd al -iidi, the administrative director of the “Wasat Vetshers” with “East”. According to Magnitt, Saudi Arabia was second in terms of daring capital financing at the emerging market level, after Singapore, during the first half of this year. Al -Seidi added in response to the questions of “Al Sharq” via e -mail: “A local investment in the financial technological sector, as one of the most successful sectors of startups in the kingdom.” The study of the study registration in America and Europe during the first ten years on its establishment, the fund focused on investment in local startups exclusively, as “our thousands of technical enterprises evaluated and supported more than 30 new businesses.” All -Seidi revealed that it ranges from 30% to 40% of the total funds of the fund to invest in world markets in the fields subject to localized localized locally. Last week, Wastan Vittshes announced its leadership of a $ 15 million financing round for the South Korean Chips business, Ribelianz. On the fund’s plans to expand in new markets, Al -Eidi explained that it is currently undergoing other investments in the United States and Europe, “because we are working to close several extra investment opportunities in South Korea.” On the ‘promising’ activity in 2024, Al -Eidi explained that the fund has completed 14 investments in international and local businesses since the beginning of this year until now, with total investments of more than 180 million rows. The fund has since the establishment in 2013 pointed out that the fund has invested in more than 75 startups with a total value of more than one billion Riyals. He has currently announced to Al -Sharq for work “with one of our global businesses on a public subscription plan in one of the global markets, and it is expected that the end of this year will take place. Companies so far, which include the French “Pascal”, “Pascal”, “Terra Dron”, the Japanese “Ribelians” Korean, “Explin” and “Maiti Baladgs” American, and “or Qom technology, based in Luxembourg, and the Dutch company” EME “. Regarding the feasible investment experiences of the fund, Al -Eidi priced the company “Aires” for smart agriculture technologies that started from the kingdom and are currently expanding in Europe, Egypt, the United States and South Africa, and “financial sucreto” that have completed the collective financing processes more than 2.5 billion, for a number of -Businesses work, and the French company “, which” is, what is. Aramco to settle the amount of computer industry and create the first quantitative computer in the kingdom, as well as “OC Technology”, which specializes in telecommunications technology with 5G technology and the Internet or Things, which also work with Aramco to locate the satellite industry that can come to the Kingdom on the Internet.