Saudi Aramco

Saudi Aramco is the state-owned oil company of the Kingdom of Saudi Arabia, established in 1933 and headquartered in Dhahran. It is the largest oil producer and exporter in the world, leading in both crude oil and natural gas liquids exports. Additionally, Saudi Aramco is a significant player in natural gas production and is expanding its operations into the downstream sector, focusing on chemical production. With its extensive resources and infrastructure, the company plays a crucial role in the global energy market.

Bruce Niven

Chief Investment Officer

27 past transactions

Utility Global

Series B in 2022
Utility Global develops and designs a generation system to create a paradigm shift in how the world uses, stores, and transforms energy. The company's system is centered around a state-of-the-art oxide-ion cell, which leverages the latest developments in manufacturing, sensing, control, and nanotechnology, enabling users to generate everything from high-efficiency power to low-cost hydrogen in compact and affordable devices.

Bonat

Seed Round in 2022
Developer of an application-based customer loyalty platform intended to retain and acquire more customers. The company's platform provides a web interface to manage loyalty programs that include data analytics, feedback, customer communication and sending gifts among others, enabling companies to build meaningful relationships with their customers.

Cognite

Secondary Market in 2022
Cognite is a global industrial AI Software-as-a-Service (SaaS) company supporting the full-scale digital transformation of heavy-asset industries around the world. The flagship product, Cognite Data Fusion (CDF), empowers companies with contextualized Operational and IT data to drive industrial applications that increase safety, sustainability, and efficiency of industrial operations. Cognite make industrial data accessible to all, from engineers in the field to data scientists in the office, empowering individuals and companies to create value from data and transform industry. Founded in January 2017, Cognite today has more than 400 software developers, data scientists, designers, 3D specialists, and industry professionals across offices in Norway, the US and Japan.

Taulia

Venture Round in 2020
Taulia Inc. is a technology company specializing in supply chain management and financing software solutions, founded in 2009 and headquartered in San Francisco, California. The company offers a range of services for businesses, including dynamic discounting, supply chain finance, cash forecasting, invoice automation, and supplier management. Its platform enables organizations to convert invoices into revenue opportunities by facilitating early payments and providing access to electronic invoicing without imposing fees on suppliers. Additionally, Taulia empowers suppliers through self-service tools, enhancing their operational efficiency. With a presence in various global locations, including offices in the United Kingdom, Germany, and Australia, Taulia has formed a strategic alliance with KPMG to strengthen its offerings in the financial technology sector.

Hyundai Oilbank

Secondary Market in 2019
Hyundai Oilbank aims to contribute to the national economy and social development by faithfully fulfilling its original purpose and social responsibility. To this end, they are practicing a management philosophy that encompasses all stakeholders.

UnitX

Seed Round in 2019
UnitX Technologies is an artificial intelligence and supercomputing company based in Thuwal, Saudi Arabia, founded in 2018. The company specializes in deploying AI at scale, offering a range of customized products and services through its online software platform. Key offerings include UnitX Sentient, a multi-cloud high-performance computing platform designed for deep learning model training and simulations across various industries such as pharmaceuticals, automotive, aerospace, and oil and gas. Another product, UnitX Vizard, focuses on computer vision applications, serving sectors like health and safety, surveillance, and urban planning. UnitX also provides solutions tailored for finance, insurance, retail, telecoms, healthcare, logistics, and manufacturing. Through these platforms, UnitX aims to facilitate digital transformation and enhance operational efficiency for its clients.

Form Energy

Series B in 2019
Form Energy, Inc. specializes in the development of long-duration energy storage systems aimed at replacing fossil fuel-based generation with renewable energy solutions. The company focuses on creating low-cost battery systems that can store energy from wind and solar sources for extended periods, enabling electricity supply from renewables to be more reliable and dispatchable throughout the year. Form Energy's technology, originally developed at MIT, enhances the electric grid's capacity without necessitating new transmission infrastructure and aims to diminish reliance on conventional thermal generation. Additionally, the company offers Formware, a software tool designed for capacity expansion with advanced optimization capabilities. Founded in 2017 and based in Somerville, Massachusetts, Form Energy is backed by notable investors, including Breakthrough Energy Ventures and MIT’s The Engine, and is driven by a team dedicated to overcoming complex technological challenges through innovation.

SABIC

Acquisition in 2019
SABIC, or Saudi Basic Industries Corporation, is a leading diversified manufacturing company based in Saudi Arabia, primarily engaged in the production of chemicals, industrial polymers, fertilizers, and metals. It stands as the largest public company in Saudi Arabia and the Middle East, with 70% of its shares owned by the Saudi government. SABIC is notable for its prominent position in the global market, ranking as the second largest producer of ethylene glycol and holding significant standings in polyethylene, polyolefins, and polypropylene manufacturing. Additionally, it is recognized as the world's largest producer of several chemical products, including mono-ethylene glycol and granular urea. SABIC Ventures, a subsidiary established in 2011, focuses on investing in innovative startups across various sectors, such as technology, energy, and cleantech, aiming to drive innovation and support SABIC's growth strategy. Through these investments, SABIC seeks to foster collaboration and leverage its extensive global presence to enhance market impact.

GetMuv

Seed Round in 2019
GetMuv is a mobile and web application based in Jeddah, Saudi Arabia, founded in 2017. It aims to enhance the practice of sports by making it more entertaining and accessible. The application has gained popularity as the leading sports platform in the Kingdom, offering a variety of engaging sports activities for individuals and families. GetMuv's services cater to users looking for enjoyable sports experiences without the need for formal participation, ensuring that they can engage in activities at nearby and quality venues. The platform is supported by relevant sporting authorities, which enhances its credibility and reach in the market.

Sadeem

Series A in 2019
Sadeem is a global marketplace to help data centers and hosting providers to sell simple cloud instances, through this market place the end users can locate the most proper Cloud Service Provider fits with their requirements.(AIRBNB for Data Centers). To achieve this, they have developed a simple and a comprehensive cloud orchestration includes a Control Panel for VMs management with embedded billing system and ticketing system via a single portal. This will ease the service provisioning process to the customers and on the other hand will off-load the cost of integration with third party tools from the Service Providers.

Golden Scent

Series B in 2019
Golden Scent is an e-commerce platform based in Dammam, Saudi Arabia, specializing in branded perfumes, cosmetics, skincare, and hair products. Founded in 2014, the company aims to serve as a comprehensive online beauty destination, providing customers with access to a wide range of luxury fragrances and beauty items from a single source. Its innovative application feature allows users to virtually try on products before making a purchase, enhancing the shopping experience and ensuring customer satisfaction.

Arlanxeo

Acquisition in 2018
Arlanxeo Holding B.V. is a leading manufacturer of synthetic rubber, primarily serving the automotive, tire, construction, and oil and gas industries. Established in 2016 and headquartered in Maastricht, the Netherlands, the company operates as a joint venture between LANXESS and Saudi Aramco, with both partners holding equal stakes. Arlanxeo specializes in the development, manufacturing, and marketing of high-performance rubber products, including ethylene propylene diene, chloroprene, neodymium, lithium butadiene, and cobalt butadiene. With approximately 3,800 employees and a network of 20 production sites across nine countries, Arlanxeo is committed to providing solutions that enhance tire performance by mitigating tread wear and minimizing rolling resistance. In 2016, the company reported sales of around EUR 2.7 billion, reflecting its significant presence in the synthetic rubber market.

NexWafe

Corporate Round in 2018
NexWafe GmbH, founded in 2015 and based in Freiburg im Breisgau, Germany, specializes in the manufacturing and supply of monocrystalline silicon wafers for solar cell producers. The company employs a continuous, direct gas-to-wafer manufacturing process that minimizes waste, resulting in wafers that are both more efficient and less expensive than conventional options. These high-quality wafers are fully compatible with standard cell and module fabrication, allowing solar cell manufacturers to enhance their production capabilities while significantly reducing costs. NexWafe's innovative approach contributes to the advancement of sustainable energy by facilitating the transition to more affordable green solar technology.

Golden Scent

Series A in 2017
Golden Scent is an e-commerce platform based in Dammam, Saudi Arabia, specializing in branded perfumes, cosmetics, skincare, and hair products. Founded in 2014, the company aims to serve as a comprehensive online beauty destination, providing customers with access to a wide range of luxury fragrances and beauty items from a single source. Its innovative application feature allows users to virtually try on products before making a purchase, enhancing the shopping experience and ensuring customer satisfaction.

Sihatech

Series A in 2017
Sihatech is the solution to the problem of lack of transparency and accountability in healthcare. They have developed a responsive website and two native applications on iOS and Android. Today, a small hospital or clinic can use Sihatech for all their Hospital Information System (HIS) needs and save all the hassle and trouble of working with a third party IT developer and paying thousands of riyals in server and development costs. Sihatech is a pure cloud player. They are focusing on the marketing and appointment booking aspects of the website and apps, but this is just the simple hook to get the doctors on board. Once they experience the robustness of their back end system and their innovative ideas, they will become loyal users. They are already being referred by their existing customers. They are now in the process of building a payment gateway that will allow their users to apply for micro-loans to finance certain medical procedures that are not typically covered by insurance and it will also allow small hospitals and clinics to manage their revenue cycle with insurance companies and their medical supply payments to their vendors (pharmacies, laboratories and equipment/consumables suppliers). Sihatech’s vision is to become the MENA regions premium provider of technology solutions to the healthcare space to improve the access, accountability and quality in healthcare. Sihatech’s mission is to allow the hospitals, polyclinics and doctor practices to outsource all business and technology processes to be able to focus on treating the patient

WalaPlus

Seed Round in 2017
Wala Plus aims to increase the loyalty of employees towards their companies and raise their productivity through a series of professional programs designed specifically for companies and establishments.

PayTabs

Series B in 2017
PayTabs is an innovative new economy payment processing and fraud prevention company built to provide buyers and sellers an advanced technology to pay and get paid.

Desktop Metal

Series D in 2017
Desktop Metal, Inc. specializes in additive manufacturing solutions tailored for engineers, designers, and manufacturers across various industries, including automotive, aerospace, healthcare, and consumer products. Founded in 2015 and headquartered in Burlington, Massachusetts, the company offers several products, such as the Production System for industrial manufacturing, the Shop System for machine and job shops, the Studio System for office environments, and Fiber, a desktop 3D printer. By focusing on the entire production process from prototyping to mass production, Desktop Metal aims to transform how metal parts are designed and manufactured. The company has secured significant equity funding from notable investors, which has helped build a team of experts in materials science, hardware and software engineering, and design.

OxyMem

Funding Round in 2017
OxyMem solves energy intensive wastewater treatment with an innovative ‘Drop in’ solution for wastewater aeration, the Membrane Aerated Biofilm Reactor (MABR). OxyMem MABR complements existing treatment systems and delivers up to 50% additional biological capacity in an existing aeration or alternatively enables you to replace a legacy system. Conventional wastewater treatment consumes 2-3% of a nation’s electricity production. This is due a 100 years reliance on bubble diffusion for conventional treatment plants which will typically suffer energy losses of 65-70% in the process because of the oxygen transfer limitations in the process. OxyMem does not have any such limitations. OxyMem uses hollow fibre gas permeable membranes to support a fixed film ecosystem for the biology which allows for direct delivery of oxygen to the micro-organisms. OxyMem can achieve 95% oxygen transfer rates which results in superior energy performance (75% saving), lower sludge production (50% less sludge), along with impressive process resilience.
Arabian Industrial Calibration

Desktop Metal

Series C in 2017
Desktop Metal, Inc. specializes in additive manufacturing solutions tailored for engineers, designers, and manufacturers across various industries, including automotive, aerospace, healthcare, and consumer products. Founded in 2015 and headquartered in Burlington, Massachusetts, the company offers several products, such as the Production System for industrial manufacturing, the Shop System for machine and job shops, the Studio System for office environments, and Fiber, a desktop 3D printer. By focusing on the entire production process from prototyping to mass production, Desktop Metal aims to transform how metal parts are designed and manufactured. The company has secured significant equity funding from notable investors, which has helped build a team of experts in materials science, hardware and software engineering, and design.

Rive Technology

Series E in 2015
Rive Technology is a clean energy company focused on advancing catalyst technology for petroleum refining. The company has developed a proprietary catalyst, originally invented at MIT, that enhances the efficiency of traditional zeolite catalysts. This innovation allows for improved access to large hydrocarbon molecules, significantly increasing the yield of gasoline and diesel fuel produced from each barrel of crude oil. Rive's catalyst is designed to integrate seamlessly into existing refinery operations, enabling refiners to boost production and profitability without requiring substantial capital investment. By optimizing diffusion-limited reactions, Rive Technology aims to transform the petroleum refining process and contribute to more sustainable energy solutions.