COFE Tech Secures $178M Pre-IPO Investment Led by Saudi Investors
COFE Tech, the Gulf-based AI enterprise platform operator, has secured a pre-IPO funding round at a valuation of $178 million. The investment was co-led by Wa'ed Ventures (Aramco's venture capital arm), Aditum Investment Management, Masarrah Investment Company, and Alyasra Foods. This marks progress toward the company’s planned IPO on the Saudi Exchange in 2029. The funding supports COFE Tech’s transition from a consumer marketplace to an enterprise AI and B2B SaaS platform offering Agentic Procurement and Agentic Commerce solutions powered by autonomous AI agents. The firm serves over 1,000 businesses across multiple sectors including aviation, healthcare, retail, and hospitality in Saudi Arabia, Kuwait, and the UAE. COFE Tech's growth aligns with regional economic visions such as Saudi Vision 2030 and Kuwait Vision 2035, emphasizing innovation and digital transformation. The company aims to streamline business operations through integrated AI-driven platforms that automate procurement, inventory management, e-commerce, payments, and customer engagement.
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Topics: AI enterprise software IPO planning MENA tech ecosystem