COFE Tech Secures Pre-IPO Investment at $178 Million Valuation, Led by Aramco's Wa'ed Ventures, Aditum, Masarrah and Alyasra, Ahead of Saudi IPO

COFE Tech, a prominent operator of agentic AI enterprises in the Gulf region, has successfully closed a pre-IPO funding round valued at $178 million. The funding round was co-led by Wa'ed Ventures, the venture capital arm of Aramco, and Aditum Investment Management, which partners with global asset managers like BlackRock. Additional participation came from Masarrah Investment Company and Alyasra Foods. The announcement was made during the LEAP 2026 conference in Riyadh, marking a significant milestone for the company as it gears up for a targeted initial public offering (IPO) on the Saudi Exchange by 2029.

Founded in 2018 in Kuwait, COFE Tech has rapidly scaled its operations across Saudi Arabia and the UAE, serving over 1,000 businesses with its intelligent procurement and AI-powered commerce infrastructure. The company has positioned itself as a leader in the region's burgeoning AI ecosystem, often referred to as the "Salesforce of MENA." COFE Tech's platform integrates procurement, sales, and inventory management into a cohesive system, addressing a critical gap in the operational capabilities of many companies in the Gulf.

The recent funding will facilitate COFE Tech's transformation from a consumer marketplace into a comprehensive enterprise AI and B2B SaaS platform. This evolution is anchored by two primary engines: Agentic Procurement and Agentic Commerce. The former offers a unified digital procurement solution that leverages autonomous AI agents to forecast demand, automate purchase orders, and manage supply chain logistics. Meanwhile, Agentic Commerce enables brands to conduct AI-powered e-commerce, digital payments, and customer engagement through a single platform. This dual approach not only enhances operational efficiency for clients but also aligns with the digital transformation initiatives outlined in Saudi Vision 2030 and Kuwait Vision 2035.

COFE Tech's client base spans various sectors, including food and beverage, hospitality, aviation, healthcare, education, and retail, with notable clients such as Emirates, Etihad Airways, and Alibaba Cloud. The company’s innovative solutions are designed to streamline operations and improve customer engagement, which is increasingly vital in a competitive marketplace.

The successful fundraising round underscores the growing investor confidence in the Gulf's technology sector, particularly in AI-driven solutions. As COFE Tech prepares for its IPO, the transaction highlights a broader trend of increasing capital flow into technology firms that are poised to drive digital transformation across the region. The implications of this funding extend beyond COFE Tech, signaling a robust appetite for investment in innovative technology solutions that can enhance operational efficiencies and contribute to the economic diversification goals of Gulf nations.