Saudi B2B autotech startup Autobia has raised $12 million in a Series A round led by Artal Capital, with participation from Aljazira Capital and Wa’ed Ventures, the venture capital arm of Saudi Aramco.
Founded in 2021 by Emad Daghreri and Ahmed Alawfi, Autobia runs a digital marketplace connecting auto parts retailers and wholesalers with verified suppliers. Its platform combines procurement, fulfilment, logistics, inventory financing and payment tools in one system.
Businesses can purchase inventory on flexible payment terms and manage customer payments through licensed payment and buy now, pay later providers, according to the company.
Autobia said it will use the new funding to expand across Saudi Arabia, strengthen its logistics and fulfilment infrastructure, advance its dynamic pricing technology and scale its inventory financing solutions.
The round follows a $2.5 million seed investment in 2023 led by Sadu Capital, with backing from Wa’ed Ventures, Raz Holding, Techstars and angel investors.
The company said its platform is designed to help traditional auto parts businesses improve procurement, manage working capital and operate more efficiently.
Source: Wamda
