COFE Tech Hits $178M Valuation in Pre-IPO Round Led by Aramco's Wa'ed Ventures
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.
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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.