🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Saudi Aramco-backed Cognite taps India in AI expansion bet
VCCircle
·
4m ago
Medial
Saudi Aramco-backed Cognite has launched an AI services center in Bengaluru, India, aiming to expand contracts with local conglomerates. Already partnering with a major cement and automotive firm, Cognite plans to invest significantly in India, viewing the country as an alternative to China. The company, known for enhancing industrial operations through software, counts institutions like AkerBP and Koch Chemical among its clients. This expansion aligns with India’s strategy to attract global companies.
View Source
1
Related News
CFIUS forces Aramco to exit from Sam Altman-backed AI chip maker Rain Neuromorphics
Startup News FYI
·
1y ago
Medial
The Biden administration has compelled Saudi Aramco-backed venture capital firm Prosperity7 to divest its shares in AI chip startup Rain Neuromorphics Inc. The move was ordered by the Committee on Foreign Investment in the United States (CFIUS) due to concerns over national security. The decision highlights the US government's efforts to regulate and control the spread of advanced technologies, particularly in relation to China. China's collaboration with Saudi Arabia in the field of AI has raised concerns among Western officials.
View Source
Aramco boasts a $31 bn dividend despite decline in earnings growth
VCCircle
·
1y ago
Medial
Saudi Arabian oil giant Aramco plans to pay $31 billion in dividends despite a decline in earnings growth in the first quarter. The company reported a 14% drop in net income to $27.3 billion, attributed to lower oil prices and volumes sold. The Saudi government, which owns 82.2% of Aramco, heavily relies on dividend payouts, including royalties and taxes, as it tries to diversify its economy away from crude oil. Aramco expects to declare total dividends of $124.3 billion in 2024.
View Source
Aramco Digital and LTIMindtree to launch KSA Digital and IT Services company
Thehindubusinessline
·
1y ago
Medial
Aramco Digital and LTIMindtree have entered into a partnership to establish an IT services company in Saudi Arabia. The joint venture aims to showcase innovative digital services and industry 4.0 systems integration capabilities, supporting Saudi Arabia's Vision 2030 initiative by generating skilled job opportunities in the technology sector. The collaboration will leverage LTIMindtree's global expertise and Aramco Digital's solutions offerings to deliver digital transformation in various sectors, such as government, energy, manufacturing, and finance. The joint venture is part of the Aramco Namaat Industrial Investments Program.
View Source
China's Sinopec to form $4 bn JV with Saudi Aramco unit
VCCircle
·
3m ago
Medial
China's Sinopec has partnered with a unit of Saudi Aramco to form a joint venture worth $3.95 billion. Sinopec and its unit will contribute a combined 21.6 billion yuan in cash, while Aramco Asia Singapore Pte. (AAS) will handle the remaining 25% of the investment. The new entity, Fujian Sinopec Aramco Refining and Petrochemical Co, will focus on refining and petrochemical operations in China's Fujian province.
View Source
Jada strikes year's first LP bet in Riyadh-based PE vehicle
VCCircle
·
1y ago
Medial
Jada Fund-of-Funds, backed by Saudi Arabia's PIF, has made its first limited partner investment in a tech-focused private equity vehicle based in Riyadh. Jada has already invested $830 million in over 36 funds, including Iliad Tech Ventures Fund I and Investcorp's Saudi Pre-IPO Growth.
View Source
Aramco to buy 50% of Air Products Qudra's blue hydrogen business
VCCircle
·
1y ago
Medial
Saudi oil company Aramco will acquire a 50% stake in the blue hydrogen industrial gases business of Air Products Qudra (APQ), as part of Saudi Arabia's push to become a major hydrogen producer. The financial terms of the deal were not disclosed, but it includes options for Aramco to purchase hydrogen and nitrogen. APQ is a joint venture between Air Products and Qudra Energy. Saudi Arabia aims to be the world's largest hydrogen supplier, reducing its reliance on crude oil. This move aligns with the country's broader economic agenda driven by its sovereign wealth fund, the Public Investment Fund.
View Source
LTIMindtree expands in Saudi Arabia, employee count increases in Middle East
Economic Times
·
1y ago
Medial
Indian IT company LTIMindtree has opened its regional headquarters in Riyadh, Saudi Arabia, as part of its expansion plan in the Middle East. This follows its acquisition of a 51% stake in a joint venture with Global Digital Integrated Solutions Company, a subsidiary of Saudi Aramco, to offer IT services in the MENA region. LTIMindtree's employee count in the Middle East increased from 293 to 367 in FY24, and the opening of the new office will enable the company to support and direct its operations in the region.
View Source
Aramco boosts venture unit, more than doubles VC funding
VCCircle
·
1y ago
Medial
Saudi Aramco has increased its Aramco Ventures unit by $4 billion, more than doubling its venture capital funding. With this additional funding over four years, Aramco Ventures' capital now stands at $7 billion. The move reflects the increasing importance of Aramco's venture capital program in developing disruptive technologies, diversification opportunities, and collaborations with innovative start-ups. The investments will focus on new energies, chemicals, transition materials, diversified industrial businesses, and digital technologies.
View Source
Saudi's Jada FoF strikes another LP-style bet for tech SMEs in MENA, Asia
VCCircle
·
1y ago
Medial
Saudi Arabia's Jada Fund of Funds (Jada FoF), backed by the Public Investment Fund, has made its fifth investment in the past six months. This investment aims to provide funding support to technology small and medium-sized enterprises (SMEs) in the Middle East and North Africa, China, India, and Southeast Asia. Jada FoF was established by Saudi Arabia's sovereign wealth fund four years ago and continues to actively invest in the tech SME sector in various regions.
View Source
Jada strikes year's first LP bet in Riyadh-based PE vehicle
VCCircle
·
1y ago
Medial
Jada Fund-of-Funds, backed by Saudi Arabia's Public Investment Fund, has made its first limited partner investment in a technology-focused private equity vehicle based in Riyadh. Having already committed $830 million in capital to 36 funds, Jada continues to expand its portfolio. Some notable investments include Iliad Tech Ventures Fund I and Investcorp's Saudi Pre-IPO Growth.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
