Rewaa, a Riyadh, Saudi Arabia-based full-stack inventory management platform for the retail industry, has raised $27 million (SAR 100 million) in a Series A funding round.
SaaS Investors
The round was led by Wa’ed Ventures, with participation from STC's Corporate Innovation Fund (CIF), Graphene Ventures, Sadu Capital, Vision Ventures, Khwarizmi Ventures, RZM Investment, Derayah VC, and Abdulrahman Sulaiman Al Rajhi & Sons Investment Company.
Wa’ed Ventures is a $500 million institutional venture capital firm wholly owned by Saudi Aramco to promote economic diversification and new business growth in the Kingdom by investing in high-growth tech startups across multiple sectors. Established in 2013, Wa'ed Ventures manages a portfolio of 60+ startups, providing end-to-end support to startups from funding to providing access to partner resources. The company is located in the city of Dhahran, Saudi Arabia.
About Rewaa
Founded in 2018 by Mohammed Alqasir and Abdullah Aljadhai, Rewaa is a B2B software company that offers retail management software where merchants can track sales, inventory, invoices, and customer data from one screen. The company provides retailers with a cloud-based integrated solution that synchronizes online and physical store inventory seamlessly, in addition to offering Point-of-Sale (POS) and accounting modules for a fully integrated platform. Since its inception, Rewaa has served more than 7,000 retailers in the Kingdom and abroad.
The company aims to become a technical partner for retailers by providing advanced technical solutions to manage inventory, sales, and payments which facilitate various business functions all from one portal.
Funding Details
Company: Alrewaa Technology Company
Raised: $27.0M
Round: Series A
Funding Month: August 2023
Lead Investors: Wa’ed Ventures
Additional Investors: STC's Corporate Innovation Fund (CIF), Graphene Ventures, Sadu Capital, Vision Ventures, Khwarizmi Ventures, RZM Investment, Derayah VC, and Abdulrahman Sulaiman Al Rajhi & Sons Investment Company
Company Website: https://www.rewaatech.com/
Software Category: Retail Management Software
Source: https://www.zawya.com/en/press-release/companies-news/waed-ventures-leads-a-sar-100mln-series-a-round-for-rewaa-yvoj6maj