Riyadh – Mubasher: Saudi Telecom Company (stc) has launched its Corporate Venture Capital Arm, tali ventures, according to a recent press release.
The new platform will leverage the group’s ecosystem to back innovative startups, driving technological transformation.
Meanwhile, tali venture injected investments in startups, such as Nile, Rewaa, and NearPay. This aligned with stc’s objectives to deploy new technologies and embrace innovative ideas.
The venture will focus on AI, fintech, proptech, ICT, Cloud, IoT, cyber security and other digital trends. It aims to support promising ventures that have the potential to reshape industries.
Additionally, STV and stc venture funds invested in several startups, driving economic diversification and growth within the framework of stc’s DARE strategy.
In the January-December 2023 period, the Tadawul-listed company logged net profits valued at SAR 13.29 billion, an annual rise of 9.23% from SAR 12.17 billion.
