Saudi Electronics & Software Specialist Azom Raises $9.5 Million in Series A Funding
The tech startup hopes to elevate its product development and explore expansion, following products such as its ambitious Azom Desert 2 smartphone.
KSA-based tech startup, Azom, has announced that it has raised $9.5 million in Series A funding, which will allow the electronics and computer software specialist to develop its products and explore geographical and industrial expansion.
Founded in 2018 by Mohamad Almunajem, Azom designs, develops and sells electronics and computer software, with their first product to hit the market coming in the form of the Azom Desert 2 smartphone and an original interface called Ibrahim UI. Connected to AI algorithms and aimed at the middle market, the product is typical of Azom’s lofty ambitions.
“Our goals are big but well thought out and rational, and we look forward to achieving them with our partners,” said Almunajem, who also serves as Azom’s CEO. “Technology should not be expensive, and we will strive to reach a society that we can build together. We will continue to invest in research and development until our work is clearly reflected on the Saudi society and economy."
While there are few details to indicate what the product development and expansion made possible by this new investment will look like, one of the investors sees it as an important step in advancing IT and communications in the Kingdom.
“This investment is the starting point for a new concept in the world of communications and information technology,” said Mohamed El-Arini, Head of Assr AlJawal, which made the investment alongside an unnamed individual investor. “We will work hard to ensure that the entire chain is managed by Saudi companies, starting from the manufacturer and ending with the seller and the consumer."
