Rua Growth Fund

Rua Growth Fund is a venture capital firm that aims to lead the next wave of tech ventures. It was born out of a unique strategic partnership between Osool & Bakheet Investment Company and iMENA Group, two pioneers in their respective sectors to lead the next wave of innovative tech ventures in Saudi Arabia. It was founded in 2020 and is based in Riyadh, Saudi Arabia.

Turk Aljoaib

Managing Partner and Co-Founder

9 past transactions

Ula.me

Series B in 2025
Ula.me is an innovative educational technology company focused on empowering Arab children through personalized learning experiences. The company utilizes cutting-edge artificial intelligence to analyze student performance and tailor educational content accordingly. Ula.me offers a comprehensive suite of services, including learning courses, educational games, live tutoring, and assessments, supplemented by augmented and virtual reality technologies. By providing these resources, Ula.me aims to enhance the knowledge, skills, and attitudes of Arab learners, fostering an educational environment that is engaging, accessible, and effective. The ultimate goal is to cultivate a competent and empowered generation of Arab youth capable of thriving in an increasingly complex world.

Ejari

Seed Round in 2024
Ejari is a real estate technology company that simplifies the rental process for both tenants and landlords. It offers a 'rent now, pay later' service, allowing tenants to secure a property upfront and then pay for it in monthly installments. Ejari handles all necessary paperwork and provides support throughout the process.

Intelmatix

Series A in 2024
Intelmatix is a deep-tech artificial intelligence company that specializes in creating tailored solutions to address challenges across various sectors. The company has developed an advanced AI platform that integrates domain knowledge with data sensing, processing, and analysis. This platform facilitates the creation of automated systems capable of navigating complexities both within and between industries. By leveraging its unique products and expertise, Intelmatix aims to empower organizations to enhance their operational efficiency and redefine their strategic approaches for the future.

ZenHR

Venture Round in 2022
ZenHR is a cloud-based human resources management system based in Amman, Jordan, with additional locations in Dubai and Riyadh. Founded in 2016, the company specializes in providing HR software solutions tailored for the Middle East and North Africa region. ZenHR's platform includes a comprehensive suite of features such as onboarding and offboarding, employee self-service, attendance and time tracking, payroll, and performance evaluation. The software is designed to comply with local labor laws, social insurance, tax regulations, and expat requirements, making it suitable for a wide range of clients from small and medium enterprises to larger organizations. By automating processes like salary calculations and offering user-friendly interfaces, ZenHR aims to enhance the overall HR experience for both departments and employees, facilitating a seamless transition from the hiring phase to retirement.

The Cloud

Series A in 2022
The Cloud is a business-to-business-to-consumer web platform that enables kitchens to maximize their unused capacity by hosting third-party restaurants. It operates as an innovation platform within the food ecosystem, focusing on enhancing food delivery operations. The company provides a centralized dashboard that integrates various food platforms, allowing clients to manage all their orders through a single workflow. This streamlined approach facilitates efficient kitchen operations by incorporating planning, inventory management, and supply chain management, ultimately improving the overall efficiency and effectiveness of food service providers.

Carasti Holding

Convertible Note in 2022
Carasti Holding operates a car subscription platform that aims to democratize access to vehicles by providing a debt-free driving experience. The company offers a diverse fleet of vehicles that can be subscribed to without the financial burdens associated with traditional car ownership, such as loans or hefty down payments. Carasti's innovative model emphasizes convenience and transparency, eliminating the stress of negotiations and unexpected costs. Customers benefit from a fully digital process that streamlines everything from registration to maintenance, ensuring a hassle-free experience. With options to choose, swap, upgrade, or downgrade vehicles according to individual preferences and budgets, Carasti caters to modern consumers who prioritize flexibility and ease in their automotive choices.

Lucidya

Series B in 2022
Lucidya, LLC is a software as a service (SaaS) company based in Riyadh, Saudi Arabia, founded in 2016. It specializes in social media monitoring and analytics, offering a platform that enables organizations to detect and analyze spikes in social media activity, track trending hashtags, and access brand statistics through an interactive live dashboard. Lucidya's solution includes real-time alerting, automated reporting, competitive analysis, and benchmarking, making it valuable for a diverse range of clients, including agencies, brands, non-profit organizations, and media industries. Leveraging proprietary artificial intelligence and Arabic natural language processing technologies, Lucidya provides accurate analysis of social media interactions in Arabic, establishing itself as a leading tool in the MENA region. The company has successfully expanded its customer base beyond Saudi Arabia to over six countries, serving various sectors such as telecommunications, banking, automotive, and retail.

CoinMENA

Seed Round in 2021
CoinMENA is a Sharia-compliant crypto-assets trading platform that facilitates the buying, selling, storing, and receiving of digital assets for both individuals and institutions. The platform aims to provide a safe and user-friendly experience, catering to clients interested in trading large quantities of digital assets through a more personalized service. CoinMENA positions itself as a trusted digital asset exchange in the region, emphasizing competitive fees and high liquidity. Additionally, the platform offers educational resources and updates on the cryptocurrency market, enabling investors to engage effectively in the digital economy.
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