Aramco Venture, specifically Wa'ed Ventures, is the venture capital arm of Saudi Aramco with a \$500 million fund, designed to support the startup ecosystem in Saudi Arabia by investing in tech-based startups and localizing pioneering global innovations. Wa'ed Ventures has invested in space technology companies like OQ Technology, a 5G IoT satellite operator, to build data and network operations centers in the Middle East and develop new space-related products. Their investment focus aims to boost activity and development in the startup space by harnessing opportunities for growth, supporting Saudi Arabia's entrepreneurial ecosystem, and supporting Aramco's digitalization efforts.
All verified mentions of this organization in source documents.
OQ Technology is supported by Aramco Wa’ed Ventures and has established a local presence in the Al Khobar region.