PR94412

RIYADH, Saudi Arabia, Feb. 4, 2022 /PRNewswire=KYODO JBN/ --

The inaugural edition of LEAP has set new records for a debut technology event,

attracting over 100,000 registered attendees from more than 80 countries. Over

700 exhibitors including the world's leading technology companies and 1,500

start-ups, along with more than 500 international speakers joined LEAP22, which

concluded yesterday in Riyadh, making it the largest ever first edition for a

technology event. Over US$6.4 billion of investments and new technology

initiatives were announced at LEAP22.

Photo -

https://mma.prnewswire.com/media/1740757/LEAP22_Rocket_Fuel_Startup_Competition_Winners.jpg

LEAP22 saw the announcement of multiple investments and funds for start-ups and

entrepreneurs of over US$266 million. Among the announcements was the

completion of the second round of Khwarizmi Ventures fund with a value of

US$69.8 million; investment into the Emkan VC fund of over US$49.8 million and

the launch by Saudi Venture Investment Company of a new fund worth over US$134

million, to promote start-ups. A new partnership to build start-ups between

Unifonic and TheSpaceKSA, called UnifonicX, was also revealed.

Start-up deals included Nana closing an investment round led by FIM Partners

and the STV Fund, worth US$50 million; and Quant closing an investment round

worth US$800,000 led by VentureSouq with participation by RaedVC and Seedra,

and also announced an additional round of investment. Muzn Artificial

Intelligence raised an investment round of US$10.1 million, led by Raed

Ventures with the participation of Shorooq Partners, VentureSouq, Sukna

Ventures and others; while Taffi raised more than US$1.8 million investment,

and SIFI and Tamawal closed pre-seed rounds.

Start-ups from around the world went head-to-head in the Rocket Fuel Start-up

Competition, promoting their innovative business ideas to win a share of the

US$1 million prize fund. Seven winning start-ups took home cash prizes for

their new business ideas, scored on creativity, innovation, potential,

functionality and impact on people and society.

Apple selected Riyadh for its first Apple Developer Academy headquarters in the

Middle East and North Africa region. The academy caters solely to female

programmers and developers and is located at the Princess Nourah bint

Abdulrahman University.

Michael Champion, Regional Executive Vice President – MEA, Informa, the event's

organizers said LEAP22 is a breakthrough success, attracting the biggest

audience for a technology event in recent years, surpassing even CES, and

setting a new record for most attendees to a new platform.

"LEAP22 has been able to bring to Riyadh the leading names in technology with

the most exciting new start-ups and creators, to present cutting-edge

innovations that will reshape the world around us. We would like to thank our

world-class speakers, sponsors and partners and look forward to hosting an even

bigger LEAP next year," said Champion.

SOURCE:  LEAP22