KAUST startup Lihytech has raised US$6 million in funding from Ma'aden and the KAUST Innovation Ventures Fund. Lihytech's patented membrane technology, developed by Professor Zhiping Lai at KAUST, extracts battery-grade lithium from sources like seawater. The funding will be used to build a pilot facility at KAUST to extract lithium from the Red Sea and other in-Kingdom resources. Why it matters: This investment supports Saudi Arabia's goal of developing a complete electric vehicle value chain and becoming a key player in meeting global lithium demand.
Aramco and KAUST-incubated startup Lihytech are collaborating to develop Direct Lithium Extraction (DLE) technology in Saudi Arabia. Aramco is providing oilfield brines to Lihytech to assess their lithium extraction technology at KAUST Research and Technology Park. The collaboration supports Saudi Arabia's Vision 2030 and its growing demand for lithium in electric vehicles. Why it matters: This partnership could unlock a new critical mineral industry in Saudi Arabia, leveraging existing oilfield resources for sustainable lithium production.
Red Sea Farms, a Saudi AgTech company based at KAUST, secured a $10 million venture capital investment from Saudi and UAE investors. Their technology enables commercial farming using primarily saltwater, reducing freshwater consumption by 85-90%. The funding will be used to expand operations in Saudi Arabia, building more than six hectares of commercial farming facilities. Why it matters: This investment signals growing interest in sustainable AgTech solutions within the Gulf region to enhance food security and combat supply chain disruptions.
KAUST spinout Sadeem, which develops wireless environmental sensing systems, has secured $2.6 million in co-investment from the KAUST Innovation Fund and Saudi Aramco's Wa'ed Ventures. The funding will support product updates, development of new monitoring technologies, and business development. Sadeem's technology is used in cities including Mexico City and Texas for flood, traffic, weather, and air quality monitoring. Why it matters: The investment highlights the growing venture capital ecosystem in Saudi Arabia and will allow Sadeem to further develop its sensor technology for environmental monitoring and disaster prevention.
KAUST startups have raised over $1 billion in total investments, generated $925 million in revenue, and created 6,661 jobs to date, with a total valuation exceeding $2 billion. In 2024 alone, these startups raised $150 million, demonstrating investor confidence in Saudi Arabia’s innovation ecosystem. KAUST Innovation Ventures focuses on co-investments with local and international venture capital firms. Why it matters: This milestone signals the growing maturity and global competitiveness of Saudi Arabia's deep tech sector, supporting Vision 2030 by attracting investment and creating high-tech jobs.