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Wadi Makkah invests in Bab Makkah and Tarteel

Wamda

Saudi Arabia-based Wadi Makkah Ventures has invested 250,000 SAR ($65,000) in a pre-Series A round for Bab Makkah, as well as SAR 200,000 ($55,000) in a seed round for Tarteel.

Founded in 2019, Bab Makkah is a B2C e-commerce marketplace that sells cultural products made in Mecca and Medina inspired by Islamic culture. It is a graduate of Wadi Makkah’s Business Incubator Programme “Nomow.” The startup also received its seed funding from Wadi Makkah last month.

Tarteel is an assistive technology-based startup that offers an electronic device to help the visually impaired to read the Quran in Braille.

Wadi Makkah Ventures looks to diversify its investments in technology startups in various local and international fields, particularly those interested in the Hajj and Umrah sector.

“Wadi Makkah Ventures aims to diversify its investments in local and international startups in their various stages through multiple programmes; seed, pre & Series-A, thus realising the goal and vision of Wadi Makkah Ventures to achieve the vision of the Kingdom of Saudi Arabia 2030,” said  Faisal bin Ahmed Allaf, CEO and member of the Investment committee at Wadi Makkah.

 

December 21st 2020, 4:32 am
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