Lucidya raises $30M in Saudi Arabia's biggest AI round
Impact46 leads record investment in Saudi-based AI CXM platform
#SaudiArabia #AI - Riyadh-based AI customer experience management (CXM) platform Lucidya has secured $30 million in Series B funding, making it the largest artificial intelligence venture investment ever raised in Saudi Arabia and one of the largest in the Middle East and North Africa (MENA) region. The round was led by Saudi venture capital firm Impact46, known for backing IPOs Jahez and Rasan, with participation from Aramco’s investment arm Wa'ed Ventures, government-backed digital innovation catalyst Takamol Ventures, and accelerator SparkLabs. Founded in 2016, Lucidya operates across 11 countries serving telecom, banking, hospitality, healthcare and public sector clients with a combined market capitalisation exceeding $250 billion.
SO WHAT? - This $30 million raise surpasses the $20 million Series A round announced in 2024 by Saudi deep-tech AI company Intelmatix, making Lucidya’s latest venture capital funding round the largest for an Saudi AI company. Although venture capital investment in AI startups has been slow to gain momentum in the region, this is partly due to the limited number of ventures that are considered to have breakthrough potential. Lucidya’s new is a milestone for MENA funding and demonstrates the growing maturity of the region’s AI ecosystem.
Here are some key points about this funding round:
Riyadh-based AI customer experience management (CXM) platform Lucidya has announced a successful $30 million Series B round, the largest venture investment ever raised for a Saudi artificial intelligence company and one of the top AI funding rounds in the Middle East and North Africa (MENA) region.
The Series B round was led by Impact46, chosen by Lucidya, in part, because of its experience in backing companies through to successful IPOs, including food delivery platform Jahez and fintech Rasan.
The round included participation from Aramco's Wa'ed Ventures, government-backed Takamol Ventures, and returning investors Rua Growth Fund and ARG
At the core of the company's proposition is a platform powered by a proprietary Arabic-language AI engine, which achieves over 92% accuracy, setting an industry benchmark for commercial Arabic language systems.
Lucidya currently serves clients across 11 countries with a combined market value exceeding $250 billion, managing customer experiences for over 75 million users.
The investment will fund Lucidya's expansion into AI Agent services, positioning the platform as a digital workforce solution for customer-facing business functions with Arabic language requirements.
MENA's customer relationship management and experience software market is projected to reach $9 billion by 2030, according to industry forecasts.
The company previously raised $6 million in 2022 and secured a $1.3 million (SAR 5 million) government grant from Saudi Arabia's National Technology Development Program in April 2025.
ZOOM OUT - Lucidya’s new $30 million raise both reflects the broad momentum in Saudi Arabia's technology sector, backed by government initiatives to diversifying the economy, and signals the growing maturity of the region’s AI ecosystem.
The Middle East is beginning to see its first few AI scale-ups that could present future IPO candidates. US-Saudi AI company Intelmatix closed a $20 million in Series A funding round led by Shorooq Partners last year, the largest AI round in the Middle East and North Africa. Then, in February 2025 Abu Dhabi-based AppliedAI announced a $55 million Series A round, backed by AI powerhouse G42 and Silicon Valley's Bessemer Venture Partners. However, the enormous potential of Arabic-centric AI solutions has to-date remained largely unexploited. Lucidya’s success demonstrates how regional ventures can leverage cultural and linguistic advantages in artificial intelligence to create and own their own market.
[Written and edited with the assistance of AI]
Read more about venture funding in MENA:
AppliedAI's $55 million Series A round oversubscribed (Middle East AI News)
Riyadh-based Darwinz AI secures $325k Seed round (Middle East AI News)
Dubai proptech Prop-AI secures $1.5 million Pre-Seed (Middle East AI News)
AqlanX secures $10m to scale Arabic-first enterprise AI (Middle East AI News)
TruBuild raises $1 million Seed Round (Middle East AI News)
Venturewave invests in UAE-based AIOS pioneer AIREV (Middle East AI News)