COFE Tech Secures Pre-IPO Investment at $178 Million Valuation, Led by Aramco's Wa'ed Ventures, Aditum, Masarrah and Alyasra, Ahead of Saudi IPO

The investment puts COFE Tech (formerly COFE APP), dubbed as the “Salesforce of MENA”, on course for a targeted IPO on the Saudi Exchange by 2029

Funding round brings together leading investors, including Wa'ed, Aramco’s venture capital arm, and Aditum, a regional partner to global financial giants like BlackRock

RIYADH, Saudi Arabia, Sept. 1, 2026 — COFE Tech (formerly COFE APP), the leading operator of agentic AI enterprises and the provider of intelligent procurement and commerce infrastructure to more than 1,000 businesses across the Gulf, announced today at LEAP 2026 the close of a pre-IPO funding round valuing the company at $178 million. The round was co-led by Wa'ed Ventures, the domestic venturing arm of Aramco, Aditum Investment Management, the regional fund partner to global financial giants like BlackRock, Masarrah Investment Company and Alyasra Foods. The investment puts COFE Tech, dubbed as the “Salesforce of MENA”, on course for a targeted IPO on the Saudi Exchange by 2029, aligned with the ambitions of Saudi Vision 2030.

“Too many companies in our region still run procurement, sales and inventory on systems that do not talk to one another, and that gap costs them efficiency at every step,” said Ali Al-Ebrahim, founder and CEO of COFE Tech. “COFE Tech brings those operations into a single intelligent platform, where agents watch the business, anticipate what it needs and act on its behalf, before a shelf runs empty or a customer is kept waiting. The backing from Wa'ed Ventures, Aditum Investment Management, Masarrah Investment Company and Alyasra Foods reflects confidence in our read on where enterprise software in the Gulf is heading, and we intend to turn that into continued growth across the MENA region.”

Al-Ebrahim added: “Since COFE launched out of Kuwait in 2018, we have expanded quickly across the Gulf, including the UAE and Saudi Arabia. The business and innovation environments in Kuwait, Saudi Arabia and the UAE are what made that pace possible. COFE Tech today is a working example of what the innovation-enabling economic visions of the Gulf countries can produce when they line up, and of the AI-ecosystem this region gives ambitious Gulf companies to grow and scale regionally. We thank all our investors for their continued trust and confidence in our vision, and for their support for our team.”

“COFE Tech is built as one core with two engines, a foundation flexible enough for an enterprise to start with a single workflow and extend across its whole operation without re-platforming,” said Shahood Siddiqui, Chief Technology Officer of COFE Tech. “That architecture is proving itself in production: enterprises across the Gulf have transformed how they run growth, procurement and finance on it, with our agents working inside their day-to-day decisions. This round lets us take that foundation further.”

Anas Algahtani, Chief Executive Officer at Wa’ed Ventures, said: “COFE Tech has demonstrated an impressive ability to evolve from a consumer marketplace into an enterprise technology platform addressing critical procurement and commerce challenges. Its growing adoption across Gulf enterprises validates both the strength of its technology and the scale of the opportunity ahead. We see significant potential for COFE Tech to deepen its presence in Saudi Arabia and build an institutionally ready technology company with long-term regional relevance.”

“Aditum Venture Capital Fund’s participation in this round reflects its approach to identifying compelling investment opportunities globally and across regional markets in MENA, supported by Aditum Group’s presence in UAE and Saudi Arabia,” stated Manoj Mahadev, Head of Investments, Aditum Investment Management.

“COFE Tech represents the type of opportunity Aditum VC looks for, combining disciplined expansion across key regional markets with a growing enterprise business and an evolving governance framework that positions the business for its next stage of growth. This combination of regional growth potential and institutional capabilities is central to how Aditum evaluates VC investment opportunities,” stated Sonali Goila, Head of VC, Aditum Investment Management.

Dalal Al Mutlaq, Principle and Board member at Masarrah Investment Company, said: “Building enduring businesses requires patient capital and the ability to support companies as they move into more ambitious stages of development. COFE Tech has grown from its roots in Kuwait into a technology business serving more than 1,000 enterprises across the Gulf region, while continuing to broaden the role its platform plays for enterprise customers. Masarrah sees strong potential in the company’s next chapter and the value it can build as it continues to scale.”

Yousef Nasser Alfulaij, Head of Real Estate and Projects at Alyasra Group, said: “Our participation in this round reflects our strong conviction in the company’s growth potential and the opportunity for ambitious technology companies to build a strong foundation in the region and scale from here. Since its founding, COFE has demonstrated a clear ability to evolve and enter new markets, reinforcing our confidence in the management team’s ability to lead the company through its next phase of growth, strengthen COFE’s presence across the GCC, and expand beyond the region.”

The closing of COFE Tech’s funding round was announced during LEAP 2026 in Riyadh, with the company represented by Founder and CEO Ali Al-Ebrahim and Co-Founder Hamad Musaed Al-Sayer, alongside representatives of the participating investors.

The latest round of investment backs the progress COFE Tech has made in growing from a consumer marketplace to an operator of agentic AI enterprises, along two principal tracks. The first is Agentic Procurement, a unified enterprise procurement infrastructure solution. The second is Agentic Commerce, a unified enterprise technology infrastructure solution. Both run alongside the company’s direct-to-consumer marketplace, the business where the platform was first built and proven.

COFE Tech today serves more than 1,000 clients across 3,000 outlets in Saudi Arabia, Kuwait and the United Arab Emirates, spanning coffee shops and restaurants, hotels, hospitals, education, aviation and corporates. Clients include Emirates, Etihad Airways, Kuwait Airways, Al-Futtaim Group, Kuwait Finance House, the Central Bank of Kuwait, stc, Aramco and Alibaba Cloud, among others.

About COFE Tech’s business lines

• Agentic Procurement: Agents watch consumption, forecast demand, and place orders on the business’s behalf, then handle the buying, the finance, and the fulfillment around them. It gives enterprises a single platform for procurement operations, including a centralized multi-vendor catalog, automated purchase orders and approvals, real-time inventory tracking, digital invoicing and invoice matching, alongside demand forecasting and smart reorder recommendations. The platform extends into logistics, vendor and contract management, preventive asset maintenance through IoT, and embedded finance, including COFE Pay, a 30- and 60-day buy-now-pay-later service underwritten on credit assessment. It also provides tools for measuring carbon emissions and reporting on sustainability and governance, and integrates directly with ERP, point-of-sale and third-party logistics systems through open APIs, as well as being available through the Foodics app marketplace.
• Agentic Commerce: Lets brands build and run a complete digital commerce operation on one platform, combining AI-powered commerce, payments and digital wallets, customer data management and engagement, promotions, and loyalty and rewards programs, alongside One AI, whose Talk to Your Data capability lets teams ask questions of their business data in plain language and act on the answers. The platform supports the full range of ordering, pickup and delivery channels, including in-store and curbside pickup, direct and third-party delivery, dine-in ordering via QR code and kiosk, and ordering through websites and social platforms. COFE Tech offers tailored solutions across food and beverage, retail, beauty, pharmacy, fitness, real estate, grocery, fashion and fragrances.
• Consumer Marketplace: The business COFE was founded on. Its direct-to-consumer arm pairs an on-demand marketplace app, connecting customers with coffee shops and restaurants across Kuwait, Saudi Arabia and the United Arab Emirates, with an e-commerce retail operation selling coffee, equipment and accessories to households and offices. COFE Tech holds exclusive regional distribution rights to a portfolio of specialty coffee brands pre-approved by major global hospitality chains, and works with local farmers on Saudi-origin blends. The consumer business is also where the company’s wallet, loyalty and subscription capabilities were built before being extended to enterprise clients.

About COFE Tech

COFE Tech (formerly COFE App) is an agentic enterprise provider building the infrastructure that lets businesses run themselves. Its platform combines Agentic Procurement, a unified enterprise procurement engine, and Agentic Commerce, a unified enterprise technology infrastructure solution, alongside a direct-to-consumer e-commerce business. COFE Tech serves more than 1,000 clients across 3,000 outlets in Saudi Arabia, Kuwait and the United Arab Emirates, across food and beverage, hospitality, aviation, health care, education and corporates.