Wa’ed Venture, Saudi Arabia’s venture capital subsidiary of Aramco, has jointly spearheaded a $52 million Series B investment in the American construction tech startup, Mighty Buildings. This funding round also saw contributions from BOLD Capital, Khosla Ventures, and 15 additional investors. Mighty Buildings, recognized for its eco-friendly homes and 3D printing capabilities, plans to use this investment to broaden its reach to Saudi Arabia and the UAE and establish factories in North America. This move is in line with the startup’s mission to tackle worldwide housing and environmental challenges by revolutionizing construction techniques.
News Source: https://www.wamda.com/2023/09/waed-ventures-co-leads-52m-seriesb-round-in-mightybuildings-arabic-english | Wamda
