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Saudi Arabia’s Zension Technologies partners with Wa’ed Ventures, Sumitomo Corporation, and Global Ventures for $30 million funding round

Jan 11, 2025•over 1 year ago

Contract Type

partnership

DubaiInformation TechnologyConsumer ElectronicsElectronics

Description

Zension Technologies, founded in 2018 by Khalid Saiduddin and Nikos Anastasiadis, raised $30 million in a series A funding round led by Wa’ed Ventures. The round also saw participation from Japan’s Sumitomo Corporation and regional investor Global Ventures. With the fresh funding, Zension aims to launch its new service, Zaam, across Saudi Arabia.

Company Information

Company

Zension Technologies

Location

Dubai, Dubai, United Arab Emirates

About

Zension is bringing circularity to the mobile device industry and making purchasing tech in a circular way the obvious and most attractive choice for consumers As every aspect of our life turns digital we depend on our tech for all areas of our lives, from banking to social media, to ordering food and paying bills and we want the latest tech in our homes to help us live our best lives. But this comes at a cost to the environment. Zension Technologies is built on the principles of the Circular Economy and driving a new approach to ownership of tech devices across the region

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Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.