Wa’ed Ventures invests in Revival Lab
Revival lab will use the investment for the launch of Roots Venture.
Saudi Aramco's venture capital arm Wa'ed Ventures invested in Revival Lab to help launch its venture builder Roots Ventures. This is the first time Wa'ed Ventures is investing in a venture builder.
The investment is also in line with the region's growing adoption of venture-building practices across Saudi Arabia and the region, as reported by Wamda. The investment would help create highly skilled project teams that can create and launch products fast with their domain expertise.
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Roots Ventures aims to promote venture capital and early-stage investing role to support sustainability objectives through this investment. It would help build and empower emergency-fit and impact-driven ecosystems of innovators, enablers, and entrepreneurs that would in turn develop and execute disruptive and scalable business models.
Mohammed Almaghlouth, Partner and CEO of Revival lab commented that along with co-building startups, venture builders are also important to guide less-experienced entrepreneurs to learn ways to grow and scale their businesses to enter new markets
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As per a report published by Morgan Stanly, An estimated $3–10 trillion in earnings before interest, taxes, depreciation, and amortization (EBITDA) will be available for startups offering commercial solutions to decarbonize society and reduce the size of the software industry by an order of magnitude.
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Edited by Affirunisa Kankudti
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