• Saudi Arabia-based contech WakeCap has secured $28 million in new funding at the Saudi-US Investment Forum to expand its services and technologies for improving construction site safety and productivity.
• Founded in 2017 by Hassan Albalawi and Ishita Sood, WakeCap specialises in wearable tech solutions that provide real-time monitoring for contractors and project managers, reducing risks and improving efficiency on construction projects.
• The funding will help WakeCap expand within Saudi Arabia and into regional and international markets, further enhancing its data analytics and digital integration capabilities in the construction sector.

• In April 2022, WakeCap raised an undisclosed investment from Wa’ed. 

Press release:

WakeCap, a leading construction technology startup, has announced the successful closure of a $28 million funding round at the Saudi-US Investment Forum. The investment will support the company’s efforts to expand its services and enhance its technologies aimed at improving safety and productivity at construction sites.

WakeCap specialises in developing wearable technology solutions that enable contractors and project managers to monitor workers and field operations in real-time, helping to reduce risks and improve operational efficiency on large-scale construction projects. This funding will bolster the company’s growth and its ability to provide advanced data analytics and digital integration in the construction sector, a market that has historically been slow to embrace digital transformation.

This funding comes amid growing momentum in Saudi Arabia’s startup sector, which is becoming increasingly recognised as the largest market for venture capital investments in the region. According to recent reports, Saudi Arabia is set to become the top market for venture capital funding in the MENA region in Q1 2025.

Founded in Saudi Arabia, WakeCap focuses on leveraging wearable technologies and the Internet of Things (IoT) to gather and analyse real-time data from construction sites. The company’s innovative solutions aim to enhance safety standards and operational efficiency, positioning it at the forefront of the digital transformation of the construction industry.

With the new funding, WakeCap aims to expand its operations within Saudi Arabia and across regional and international markets. The company plans to enhance its data analytics capabilities and further integrate digital solutions in an industry that remains one of the least digitally transformed.