Merak Capital Backs Arsann with $26.7 Million to Power Data-Driven Mobility
Saudi Arabia’s urban landscape is set for a significant transformation as Merak Capital, a prominent Saudi-based investment firm, has injected $26.7 million (SAR 100 million) into Arsann, the Kingdom’s leading smart parking and mobility solutions provider. This substantial funding round marks a pivotal moment for modernizing urban infrastructure and optimizing city mobility within Saudi Arabia, signaling a robust commitment to leveraging data and automation for smarter cities. The investment underscores the growing confidence in local tech innovators addressing critical urban challenges.
Powering the Future of Smart Urban Mobility and Data
Arsann, founded in 2017 by Mahmoud Ghulman, Feras Sakkat, and Abdulmouezz King, has rapidly established itself as a frontrunner in smart urban infrastructure. The company currently boasts the largest smart-parking network in Saudi Arabia, managing over 270 active sites and having processed more than 10 million parked vehicles across the nation. With Merak Capital’s strategic backing, Arsann is poised for an ambitious expansion phase. The capital will primarily fuel the enlargement of its on-street parking networks, facilitate participation in Saudi Arabia’s ambitious national Giga projects, and significantly scale its underlying technology infrastructure. A key objective is to enhance the delivery of real-time visibility into vital parking and traffic data, which is crucial for efficient urban planning and traffic management. This strategic move aims to revolutionize how cities manage their mobility ecosystems, moving towards a more connected, automated, and data-rich future. The focus on real-time data promises to unlock new efficiencies, reduce congestion, and improve the overall urban experience.
This investment by Merak Capital in Arsann represents more than just financial backing; it’s a strategic partnership designed to accelerate the development of advanced mobility solutions in Saudi Arabia. By empowering Arsann to expand its infrastructure and enhance its data capabilities, the collaboration will play a crucial role in realizing the nation’s vision for sophisticated, data-driven urban environments, ultimately supporting economic growth and improving quality of life for residents.
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