COFE Tech Secures Pre-IPO Funding at $178 Million Valuation
COFE Tech announced yesterday it has secured a significant pre-IPO investment, valuing the company at $178 million. The funding round was led by Aramco's Wa'ed Ventures and included other investors.
Riyadh, Saudi Arabia – COFE Tech, an operator of agentic AI enterprises and provider of intelligent procurement and AI-powered commerce infrastructure for over 1,000 businesses in the Gulf, announced yesterday that it has secured a significant pre-IPO investment. The funding round valued the company at $178 million.
The investment was led by Wa'ed Ventures, the venture capital arm of Saudi Aramco, with participation from Aditum, Masarrah, and Alyasra. COFE Tech, formerly known as COFE APP, is preparing for an initial public offering on the Saudi stock exchange.
The company focuses on developing and operating agent-based AI systems designed to streamline procurement processes and power AI-driven commerce. Its infrastructure serves a broad base of businesses across the region.
This latest funding is intended to support COFE Tech's ongoing growth, expansion initiatives in the Middle East, and further development of its AI technologies. The pre-IPO financing marks a key step as the company advances toward its public listing.