With its software and hardware gaining traction in Europe’s health sector, a new investment positions Averos perfectly to expand aggressively throughout a continent ravaged by COVID-19.
Saudi startup, Averos, has signalled its intent to expand into Europe, after raising a follow-up investment from Aramco's entrepreneurship arm, Wa'ed, which will help further expand the very many uses of its location-based technology.
Founded in 2016 by Yusuf Sabadia, Shaharyar Ali Anis, Saleh Basalamah and Anas Basalamah, Averos’ tech has been utilised in a number of different settings to help improve security, hygiene monitoring and operational efficiency. It does so through contactless remote monitoring technologies that offer real-time tracking of individuals, goods and vehicles both outdoors and within large buildings, convention halls, airports and institutions such as hospitals.
In Europe, Averos’ products have begun to gain traction, where the COVID-19 pandemic has created a need for hygiene-improving contactless solutions hospitals and clinics are so desperate for. It’s the potential for aggressive expansion into the continent that triggered a follow-up investment from Wa’ed, which is coming more and more to the forefront as a key investor in KSA’s tech ecosystem.
“We are grateful for this second investment and vote of confidence from Wa’ed, the leading supporter of entrepreneurs in Saudi Arabia,” said Averos co-founder and CEO, Yusuf Sabadia. “It is not easy for Saudi tech startups to get the attention and funding they deserve, and Wa’ed is playing a critical role in filling this gap and driving entrepreneurial culture in the Kingdom.”
Learn more about Averos here.
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