Prime Highlights:
- Red Sea Global and Bunat Ventures have partnered to create a new fund supporting AI startups in Saudi Arabia.
- The initiative will help about 25 startups over three years, offering funding and real-world testing environments.
Key Facts:
- Selected companies can trial AI technologies across RSG’s resorts and international airports.
- The fund also targets Saudi-founded global ventures entering the local market to boost innovation and create jobs.
Background:
Red Sea Global (RSG) has joined hands with Bunat Ventures to launch a new venture fund focused on artificial intelligence startups in Saudi Arabia, as part of efforts to strengthen the Kingdom’s technology ecosystem.
The AI-focused fund will invest in early-stage and growth-stage companies that either build their products on AI or use the technology as a core part of their operations. The partners plan to support about 25 startups over the next three years.
Beyond funding, the initiative will offer selected companies access to real-world testing environments across RSG’s large-scale developments. These include luxury tourism resorts and the company’s international airport, allowing startups to trial their technologies in live commercial settings. The opportunity will be mainly available to firms based in Saudi Arabia.
Sultan Moraished, Group Head of Technology and Corporate Excellence at Red Sea Global, said innovation plays a key role in building a regenerative future. He added that the partnership reflects the company’s belief that technology supports sustainability and accelerates the Kingdom’s digital shift.
Bunat Ventures CEO and Managing Partner Khaled Zainalabedin said the collaboration blends visionary development with agile venture capital. He noted that the goal is to empower the next wave of Saudi AI founders who can transform industries and raise the country’s global standing in innovation.
The fund will also target Saudi-founded global ventures that are entering the local market. It aims to create jobs, draw international talent, and strengthen Saudi Arabia’s role as a regional AI hub.
Red Sea Global is the developer behind the regenerative tourism destinations The Red Sea and AMAALA. The company began welcoming visitors to The Red Sea project in 2023 and now operates 10 resorts and an international airport.
The launch of the AI fund comes as RSG continues to expand its flagship destination, including the opening of the first resorts on Shura Island this year, marking a major step in the Kingdom’s tourism and innovation journey.
