stc Institutional Investment Fund (CIF) announced its participation in an investment round (A) totaling $27 million (SAR 100 million) in Rawa, a leading retail management software company. Aramco’s Wa’ed Ventures Venture Capital Fund led the round. Other investors participating in the round included Silicon Valley’s Graphene Ventures, Sudu Capital, Vision Ventures, Khawarizmi Ventures, Razam Investments and other funds.
stc’s participation in this round comes as part of the group’s expansion and growth plans, which is in line with its “Dare” strategy, and its objectives that include enabling the digital economy, supporting innovation, new technologies and business models by investing in promising companies to create added value in the local and global markets in a manner consistent with Saudi Vision 2030 targets.
Our investment in “Rawaa” is a strategic step to support the growth of basic technologies for the retail sector. The remarkable progress that Rawa has made in the past few months is a testament to the efficiency of the project and the work team. We look forward to being part of Rawa’s journey towards developing advanced retail solutions as an enabler of digital transformation in the region.
Majed Al-Jarbou, General Manager, stc and Entrepreneurship Fund
Rawa, which was founded in 2018 by Mohammed Al-Qaseer and Abdullah Al-Jadhei, offers a synchronized cloud system for managing retailers’ inventory in regular stores, as well as online outlets. The company has succeeded in meeting the needs of 7,000 retailers in the Kingdom and abroad, creating more than 250 job opportunities locally.
stc will also work to support Rawa Company to benefit from the great potential of the group and its integrated technical system, by providing consultations to the work team from all sectors of the group and its subsidiaries.
It is worth noting that stc occupies a leadership position in supporting the entrepreneurship system in the Kingdom of Saudi Arabia by investing in several promising projects through the STV fund and the inspireU program, which provides a package of distinguished services, on top of which is the provision of equipped work areas, logistical support and marketing services.
