- Saudi Arabia-based construction technology (contech) startup WakeCap has raised investment from Wa’ed, the Saudi Aramco Entrepreneurship Centre. The amount raised was not disclosed.
- Founded in 2017 by Hassan Albalawi, WakeCap provides non-intrusive hardware technology to construction sites to help improve the productivity and safety of workers.
- The investment agreement was signed at the Global Entrepreneurship Congress 2022, held in Riyadh.
Saudi Aramco Entrepreneurship Centre and WakeCap Technologies signed an investment agreement at the Global Entrepreneurship Congress Riyadh 2022, formalising the Waéd investment in WakeCap, a construction industry technology developed to support improved construction site productivity and safety.
WakeCap was founded in 2017 to answer job site digitisation challenges using emerging technologies. The WakeCap innovation is a non-intrusive technology implemented in existing job site operations, creating a turnkey solution that adds value to operational excellence.
While existing solutions require accessories and add-ons, WakeCap utilises sensors built into the hardhat, an essential piece of equipment on the job sites. WakeCap quickly evolved, providing hardware solutions to support all workplace circumstances and the ongoing development of sophisticated analytics tools to provide unique insights into all job-site activity.
WakeCap enables a site network of integrated sensors to connect the entire job site with a proprietary, patented wireless mesh network technology to provide an in-depth understanding of all site activity, a solution designed to improve efficiency for improved productivity and safety.
“The Saudi Aramco Entrepreneurship Centre investment in WakeCap is a tremendous confidence boost for the entire company and the reassurance that we are on the right track. We developed WakeCap to provide a site solution technology to support site efficiency, a solution that today is providing improved profitability for our customers. I appreciate the support from all of our investors and am very proud to welcome Waéd to the WakeCap family,” says Hassan Albalawi, Founder and CEO of WakeCap.
The Investment Agreement was signed at the Global Entrepreneurship Congress 2022, held in Riyadh on the 27th of March 2022. The agreement was signed by senior executives from Saudi Aramco Entrepreneurship Centre and Hassan Albalawi.