Saudi-based startup Averos just raised an undisclosed Pre-Series A funding round from Saudi Aramco’s Wa’ed Ventures – making it their second investment within a local Saudi startup in 2019.
The Pre-Series A funding round came almost 3 years after Averos seed round, which they’ve have raised from UAE-based MultiLinks back in August 2016.
The B2B startup was launched in 2015 by Yusuf Sabadia, Shaharyar Ali Anis, Dr. Saleh Basalamah, and Dr. Anas Basalamah. Averos provides innovative tracking and analytics solutions to its customers, including companies in the sector of logistics, travel, retail, and security.
Some of the unique solutions that Averos provides to their clients include full and real-time situation awareness of their environment, their customers, their staff and their valuable assets. Its products include sensors, scanners, and its software platform, improving its customers’ operational efficiency and their market positioning.
With the new funding, the startup plans on further expanding into Real-Time Location System (RTLS) and Location Based Systems (LBS) market globally. In addition, Averos share that they aim to enter the market of the Internet of Things (IoT), where they can leverage their core technology in providing sensor-based computing and communication solutions.
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