A newly released report shows that 50% of deeptech startups in Saudi Arabia focus on AI and IoT.

The report was published by the Ministry of Communications and Information Technology, King Abdullah University of Science and Technology, and Hello Tomorrow consultancy firm.

Over 43 high-growth startups in the kingdom raised more than US$987 million in funding.

This achievement is attributed to the rapidly expanding funding ecosystem in Saudi Arabia, which ranks among the top three in the Middle East and North Africa for both funding and deals.

Deeptech startups are still in their early stages but are drawing interest from international companies, aligning with Saudi Vision 2030’s objectives.