Averos Raises Pre-series A Round from Aramco’s Wa’ed Ventures

Averos Raises Pre-series A Round from Aramco's Wa'ed Ventures
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Averos, a Saudi Arabian tracking startup based out of Makkah, raised an undisclosed Pre-Series A funding round from Saudi Aramco’s Wa’ed Ventures. The funding will be leveraged to expand Averos globally. This funding round came after 3 years of the seed funding raised by Averos back in August 2016 from UAE-based MultiLinks.

About Averos

Founded in 2015 by Yusuf Sabadia, Shaharyar Ali Anis, Dr. Saleh Basalamah, and Dr. Anas Basalamah, Averos is a B2B startup that provides innovative tracking and analytics solutions to its customers, among which companies in logistics, travel, retail, and security.

With its unique technological solutions, Averos provides companies and their customers with 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 market positioning.

Besides expanding further into the Real-Time Location System (RTLS) and Location Based Systems (LBS) market globally, Averos aims to enter the Internet of Things (IoT) market, where it can leverage its core technology in providing sensor-based computing and communication solutions.

Source: Magnitt

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