09/02/2026

$857 Million in New Investments Boost Momentum on Day Three of LEAP 2026

LEAP 2026 continued its technology and investment momentum on its third day, with new announcements totaling $857 million across funding rounds, investment funds, and strategic expansions in cloud computing, data centers, and technology manufacturing. The announcements highlight the Kingdom’s position as a thriving hub for startups and accelerating their growth into global markets.
Venture capital investments led the third day’s announcements, totaling approximately $293 million across 11 announcements, including nine funding rounds and investments worth $126.15 million, alongside the launch of a new fund and the expansion of a financing fund with a combined value of $166.7 million.
The funding rounds covered companies operating across AI, fintech, travel, gaming, human resources, and the digital automotive marketplace, including COFE Tech, FlyAkeed, Nayla Finance, Sayarah, RABEH, Hazen.ai, ZenHR, Abwab.ai, and TAKA House, with participation from a range of local and international funds and investors.
The fund announcements included Ula Capital’s launch of a $100 million fund, in partnership with South Korea’s FuturePlay, to connect deep-tech investment opportunities between Saudi Arabia and South Korea. Impact46 and HALA also announced the expansion of their SME financing fund from $26.7 million to $66.7 million, representing a 150% increase in less than two years.
Building on this investment momentum, Snowflake announced a $300 million investment to expand in the Kingdom through 2030, including the opening of its regional headquarters, the launch of two additional cloud regions in the second half of 2026, and the training of 25,000 people, further strengthening the Kingdom’s position as a regional hub for data and cloud computing.
In support of localizing technology manufacturing, Alfanar announced a $150 million investment to manufacture data center components in the Kingdom, strengthening national infrastructure capabilities and expanding local content in advanced technology industries.
LogRhythm Middle East announced the establishment of a Cybersecurity Center of Excellence in the Kingdom, targeting the training and empowerment of 50,000 Saudi men and women, alongside expanding research and innovation and developing advanced security solutions. The initiative supports national capability building and strengthens talent readiness for the Intelligence Age.
Global CTS Group and Saudi company Desert Technologies announced a partnership to localize the manufacturing of core data center components, as well as data center design and construction, and establish specialized manufacturing facilities to produce and export integrated power modules, leveraging Saudi expertise and global standards.
On the conference’s Main Stage, HUMAIN showcased two of its enterprise AI solutions, HUMAIN Enterprise Chat and HUMAIN Marketplace, demonstrating how its full-stack AI capabilities are being translated into practical tools for enterprises and accelerating the adoption of advanced technologies.
The presentation featured Dr. Yaser Al-Onaizan, Deputy CEO and President of Intelligence; Dr. Areeb Alowisheq, VP of Models; and Dr. Manal Alassaf, SVP of Marketplace. They highlighted the role of the two products in making AI technologies easier for enterprises to access, adopt, and deploy within secure business environments.
HUMAIN Enterprise Chat provides a secure, enterprise-grade conversational AI experience, enabling employees to integrate AI into everyday workflows while maintaining enterprise governance, security, and control requirements. In just weeks, the product has attracted more than 30 clients.
HUMAIN Marketplace provides a centralized destination where enterprises can discover and access AI models, agents, applications, and solutions from HUMAIN and its wider ecosystem, accelerating the transition from advanced AI capabilities to practical adoption in enterprise environments.
The Day Three announcements underscore the continued momentum across the Kingdom’s technology and innovation ecosystem, its growing ability to attract capital and strategic investments, empower startups, localize advanced industries, and build a competitive digital economy that drives opportunities in the Intelligence Age.