Riyadh – September 07, 2026 -- COFE Tech has closed a pre-IPO funding round valuing the company at $178 million, setting a target for a listing on the Saudi Exchange by 2029. The round was announced at LEAP 2026 in Riyadh and co-led by Wa'ed Ventures, the venture capital arm of Aramco, and Aditum Investment Management, a regional fund partner to global asset managers including BlackRock. Masarrah Investment Company and Alyasra Foods also participated.
Aramco's Wa'ed Ventures Anchors Investor Consortium Ahead Of Saudi IPO
The capital injection backs COFE Tech's shift from a consumer coffee marketplace app, formerly branded COFE APP, into an enterprise AI and B2B SaaS operator. Founder and CEO Ali Al-Ebrahim said the company was built to unify procurement, sales and inventory systems that typically do not communicate with one another across Gulf enterprises.
Platform Runs Two AI Engines For Procurement And Commerce
COFE Tech's Agentic Procurement engine uses autonomous AI agents to forecast demand, automate purchase orders and approvals, track inventory in real time, and manage e-invoicing, supply chain logistics, vendor relationships and embedded finance, including its COFE Pay buy-now-pay-later service. A second engine, Agentic Commerce, lets brands operate AI-driven e-commerce, digital payments, digital wallets, loyalty programs and customer engagement on a single platform, incorporating One AI's 'Talk to Your Data' generative AI feature.
Company Serves 1,000-Plus Enterprises Across 3,000 Gulf Outlets
COFE Tech now serves more than 1,000 enterprise clients operating across 3,000 outlets in Saudi Arabia, Kuwait and the United Arab Emirates, spanning food and beverage, hospitality, aviation, healthcare, education and retail. Its client roster includes Emirates, Etihad Airways, Kuwait Airways, Al-Futtaim Group, Kuwait Finance House, the Central Bank of Kuwait, stc, Aramco and Alibaba Cloud. The company launched out of Kuwait in 2018 before expanding into Saudi Arabia and the UAE.