Riyadh, September 2, 2026, SPA -- COFE Technologies yesterday completed a pre-IPO funding round at a valuation of $178 million during LEAP 2026. The round was led by Aramco’s Wa’ed Ventures, with participation from Aditum Investment Management, Masarrah Investment Company and Alyasra Foods, in the presence of Assistant Deputy Minister for Digital Entrepreneurship at the Ministry of Communications and Information Technology Mohammed Alariefy.
The company said the round is part of its plans to expand across regional markets and paves the way for a targeted listing on one of Saudi Arabia’s capital markets by 2029.
COFE Technologies CEO and Founder Ali Al Ebrahim said the company is developing a unified technology system that uses AI agents to manage procurement, sales and inventory operations, helping improve operational efficiency and integration. He added that the funding round will support the company’s growth and expansion plans in Saudi Arabia, the United Arab Emirates, Kuwait, and markets across the Middle East and North Africa.
Al Ebrahim said the company was launched in Kuwait in 2018 before expanding into Saudi Arabia and the United Arab Emirates, benefiting from the supportive environment for entrepreneurship and innovation in Gulf countries.
Wa’ed Ventures CEO Anas Algahtani said COFE Technologies’ evolution from a consumer-focused app into a technology platform for businesses reflects its ability to capitalize on market needs and develop solutions to address operational challenges. He also highlighted the opportunities AI offers to improve business efficiency and enhance the competitiveness of businesses in Saudi Arabia.