KAUST Startups Top $1 Billion, Signaling Saudi Arabia’s Deep-Tech Breakout
The university’s Innovation Ventures’ strategy prioritizes co-investments with both local and international venture capital firms.
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[Image source: Chetan Jha/MITSMR Middle East]
Following its startup portfolio’s $150 million raise in 2024, the King Abdullah University of Science and Technology (KAUST) announced on Sunday that the figure had reached $1 billion for 2025 to date.
“Crossing the US$1 billion investment threshold is more than a milestone — it is proof that Saudi deep tech is globally competitive,” said Ian Campbell, Senior Vice President of the KAUST National Transformation Institute. “Through KAUST Innovation Ventures, we are transforming world-class research into world-class companies, advancing Vision 2030 by empowering entrepreneurs, creating jobs, and attracting global investment.”
KAUST’s portfolio companies have generated $925 million in revenues, creating 6,661 jobs. Notably, the companies have reached a valuation of over $2 billion.
The university’s Innovation Ventures’ strategy prioritizes co-investments with both local and international venture capital firms. This comes as cross-border investment in Saudi emerging businesses signals interest in KAUST-supported startups in global markets, enabling domestic startups to scale internationally effectively.
Two of its companies that have scaled globally are Rimrubber, an on-demand tire sales and fitting firm in Saudi Arabia, Bahrain, Qatar, and the UAE, and iStoria, an edtech startup that enables non-native speakers to learn English in Europe, Latin America, and the Middle East.
Among startups that made great strides in 2024 are Edama in the circular economy, Rize in fintech, Flynow in air transport, and Intelmatrix in deeptech categories.
“Our ecosystem proves that when science meets entrepreneurship, real economic transformation follows,” said Haitham Alhumsi, director of the KAUST Innovation Ecosystem. “The impact of KAUST startups goes far beyond funding: they’re building industries, jobs, and global connections that will define the next decade of Saudi innovation.”
In August, startup funding across the Middle East and North Africa posted a 74% YoY increase with $337.5 million secured across 47 deals. Among the countries, Saudi Arabia led the region for the second consecutive month, attracting $166 million across 19 deals, with the UAE following with $154 million raised by 11 startups.
