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Venture Capital Invests $293M at LIP 26 Day 3
LiB 2026 Conference continues its momentum on its third day, with the announcement of funding rounds and venture capital investments exceeding $293 million to support startups and enhance the innovation ecosystem in the Kingdom. Additionally, Alfanar Company announced an investment of $150 million to localize the manufacturing of data center components, aiming to support digital infrastructure and develop sector capabilities, in line with the overarching goal of strengthening the Kingdom's position as a regional hub for technology and innovation. These investments come within the framework of supporting digital transformation and the growth of a knowledge-based economy, amid expectations that the Kingdom's tech sector will experience significant growth, with substantial investments exceeding $15 billion since the conference's launch five years ago.
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