Funded Artificial Intelligence Startups in Riyadh
The 20 most recently funded AI startups tracked in Riyadh span rounds from March 2020 through August 2025, with two distinct bursts of activity: seven comp…
The 20 most recently funded AI startups tracked in Riyadh span rounds from March 2020 through August 2025, with two distinct bursts of activity: seven companies closed rounds in 2022 alone, and five have already raised in 2025. The largest disclosed round in this set belongs to Foodics, which pulled in $170M at Series C in April 2022 — still the standout figure. Lean Technologies' $68M Series B in November 2024 is the next largest, and both Salasa and Lucidya closed matching $30M Series B rounds within days of each other in July and August 2025.
Round-stage distribution tilts toward growth capital: Series B and Series A each appear four times, alongside four Seed deals and two Pre-Seed raises. Sub-sectors stretch from fintech and payments (Lean Technologies, HyperPay, RasMal) to restaurant tech (Foodics), healthcare AI (Thakaa Med), HR technology (ELEVATUS), social learning (Noon), and data analytics (Intelmatix, Mozn). All 20 companies are headquartered in Riyadh, reflecting the city's concentration of Saudi Arabia's technology investment activity.
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Frequently asked
What are the largest disclosed rounds among these Riyadh AI startups?
Foodics leads with a $170M Series C closed in April 2022, followed by Lean Technologies at $68M (Series B, November 2024) and Noon at $41M (Series B, November 2023). Both Salasa and Lucidya each raised $30M Series B rounds within a week of each other in July–August 2025.
Which round stages appear most frequently in this segment?
Series B and Series A each account for four companies in this view, as do Seed-stage deals. Pre-Seed appears twice — Wittify.ai at $2M (July 2025) and GrintaHub at $800K (November 2021). One Series C (Foodics), one Corporate Round (HyperPay), and one Private Equity deal (Master Works) add institutional variety.
How recent is the deal activity shown here?
Five of the 20 companies raised in 2025, with the most recent being Salasa's $30M Series B on August 4, 2025 and Lucidya's $30M Series B on July 14, 2025. Lean Technologies' $68M Series B in November 2024 marks the largest round in the prior calendar year.
Which year saw the highest volume of funding rounds in this dataset?
2022 accounts for seven of the 20 rounds — more than any other single year shown — including Foodics' $170M Series C, HyperPay's $40M corporate round, Master Works' $40M private equity deal, and Mozn's $10M Series A, all closing within a four-month window between February and May 2022.
What sub-sectors do these Riyadh AI companies operate in?
Fintech and payments are well-represented, with Lean Technologies, HyperPay, and RasMal all raising in that space. Other sub-sectors include restaurant and food tech (Foodics, DailyMealz), HR and recruitment (ELEVATUS), social learning (Noon), healthcare AI (Thakaa Med), supply chain (Omniful), and data analytics (Intelmatix, Mozn, Quant Data & Analytics).
What is the smallest disclosed round in this set?
Darwinz AI raised $330K in a Seed round on June 17, 2025, the smallest disclosed amount among the 20 companies shown. Two additional companies — Thakaa Med and Omniful — have undisclosed round sizes.
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