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Saudi Arabia sets sights on AI and IoT with $987 million in startup funding
A new report revealed that up to 50% of Saudi deep tech startups are specializing in AI and the Internet of Things (IoTs) in 2025.
Saudi Arabia is making substantial progress in deep tech, driven by a growing number of domestic startups across various sectors.
A recent report by the Ministry of Communications and Information Technology, in collaboration with King Abdullah University of Science and Technology and Hello Tomorrow consultancy, highlights that by 2025, nearly 50% of homegrown deep tech startups will specialize in Artificial Intelligence (AI) and the Internet of Things (IoT).
The report highlights significant technological innovation within 43 high-growth startups in Saudi Arabia, which collectively secured $987 million in funding in 2022. “The deep tech startups that have originated in Saudi Arabia are currently in their early stages of development, but the ecosystem is already attracting mature international companies,” the report stated.
These grassroots initiatives in Saudi Arabia align with the Kingdom’s goal to attract $7.9 billion in cumulative foreign direct investment (FDI) and $12.15 billion from local markets in data and AI by 2030.
The Kingdom’s dedication to strengthening its digital infrastructure and data economy is evident in the recent growth of its startup ecosystem, which saw the addition of 104 active investors in 2024. This surge in investment is further supported by a 75% increase in the number of researchers since 2015.
The report highlights that Saudi Arabia is expanding its research infrastructure to accommodate 140,000 researchers by 2030, a sevenfold increase from the current 20,000 researchers in the country.
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