• MENA’s seed and early-stage VC Flat6Labs has invested in 10 Saudi-based startups for the fourth cycle of the Riyadh Seed Programme, spanning various sectors such as transportation, e-commerce, logistics, cybersecurity, SaaS, consumer tech, and talent acquisition. 
• The startups include CAMION, Colada, Devsy, dPhish, Hollat, Mrrha, Fezlee, Cyberni, Units, and Zofa, bringing the total number of Flat6Labs' Startup Seed Fund portfolio in Saudi Arabia to 41 since its inception in 2023. Each startup has received $133,000 in cash.
• The Riyadh Seed Programme is supported and funded by the Startup Seed Fund, which has received investments from the Saudi Venture Capital Company, the Jada Fund of Funds, and Riyadh Valley Company, and is managed by Flat6Labs. The program also receives support from the National Technology Development Program through its Empowering Accelerators initiative.

Press release:

Flat6Labs, MENA’s most active seed and early-stage venture capital firm, has made significant strides in supporting Saudi Arabia’s startup ecosystem, now reaching a total of 41 investments in the Kingdom through the Startup Seed Fund. Since its launch in 2023, Flat6Labs has arguably become the most active investor in Saudi startups, reflecting its commitment to driving innovation and nurturing local talent.

In our latest round, we have invested in 10 promising Saudi-based startups for the fourth cycle of the Riyadh Seed Program, spanning dynamic sectors such as transportation, e-commerce, logistics, cybersecurity, SaaS, consumer tech, and talent acquisition.

Over the course of the program, these startups receive extensive support through a four-month acceleration initiative designed to fast-track their growth, refine their market positioning, and expand their capabilities across KSA and beyond, as well as a cash investment of at least SAR 500,000. The program aims to prepare them for the next stage of their journey, including scaling their customer base, enhancing operational efficiencies, and securing strategic partnerships.

The Riyadh Seed Program is supported and funded by the Startup Seed Fund, which has received investments from the Saudi Venture Capital Company, the Jada Fund of Funds, and Riyadh Valley Company, and is managed by Flat6Labs. The program also receives support from the National Technology Development Program through its Empowering Accelerators initiative.

The fund was established to provide investors with outsized capital gains through investments in tech startups in the Kingdom of Saudi Arabia via a highly diversified and systematic investment strategy. It aims to acquire selective equity stakes in early-stage startups operating in technology and innovation sectors within the Kingdom. The fund was established to provide investors with outsized capital gains through investments in tech startups in the Kingdom of Saudi Arabia via a highly diversified and systematic investment strategy. It aims to acquire selective equity stakes in early-stage startups operating in technology and innovation sectors within the Kingdom.

The 10 New Startups in Flat6Labs’ Fourth Riyadh Seed Cycle:

CAMION: Revolutionising freight management with a comprehensive Transportation Management System (TMS) that deeply integrates with global logistics networks to streamline first-mile operations.

Colada: A consumer-tech platform bridging affordability and quality in food ordering. Leveraging machine learning, Colada offers exclusive discounts on popular menu items while helping restaurants maximise margins.

Devsy: Devsys is a talent acquisition platform that leverages advanced HRMIS and work management modules enhanced with AI capabilities to streamline the vetting and management of both remote and on-site talent. Its AI product arm, NIIO, has secured major contracts to build predictive models for e-commerce and quick commerce sectors.

dPhish: An all-encompassing anti-phishing solution addressing threats through detection, proactive credential hunting, and awareness.

Hollat: Hollat is a CRM platform designed to address challenges in integration, privacy, and cybersecurity for large enterprises and the public sector, aligning with local compliance regulatory requirements. It has become the preferred choice for government entities and notable financial institutions.

Mrrha: Mrrha is a community-based online marketplace that empowers local creators and digital entrepreneurs to sell their unique products. It facilitates secure consumer-to-consumer (C2C) transactions through a validated and user-friendly experience. Key features include automated escrow services, secure payment options, and integrated shipping and listing tools. Mrrha ensures a safe and efficient process, enabling small retailers to reach a broader audience.

Fezlee: Fezlee is a shipping aggregator platform that connects merchants with the best couriers, warehouses, and all logistics needs. By streamlining logistics and offering competitive rates, it empowers businesses to expand their reach, enhance efficiency, and reduce costs.

Cyberni: Cyberni is a cybersecurity SaaS company that specialises in dark web threat intelligence. It provides innovative solutions that enhance threat detection, risk mitigation, and proactive safeguarding of businesses from emerging threats.

Units: A warehousing solution transforming the warehousing landscape with digital solutions for inventory and space management. It simplifies and optimises inventory management processes, space utilisation, and delivery management.

Zofa: Aiming to revolutionise clinic management, Zofa offers a comprehensive operations platform to revolutionise patient management and ensure regulatory compliance.