Funding

Sary, the Saudi Arabia-based operator of a business-to-business marketplace, received $30.5m in series B funding yesterday from investors including Raed Ventures, the venture capital arm of conglomerate Almajdouie Holding, KrAsia reported. VentureSouq led the round, which also featured STV, the VC firm backed by telecommunications firm Saudi Telecom, as well as Rocketship.vc, MSA Capital and Derayah VC. It had raised $6.6m in an April 2020 round led by Raed Ventures and backed by MSA Capital and Derayah Ventures.

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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