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Saudi mobility startup SHIFT receives $82.8 million investment to fuel growth
SHIFT, a leading UAE-based mobility company, has completed an $82.8 million investment round led by Merak Capital.
This funding from Merak Capital is in line with Saudi Arabia’s 2030 goal to develop the economy by implementing innovative programs in tourism, transportation, logistics and other sectors.
Founded in 2017 by Khalid Al-Sulaiman, SHIFT Inc. is an integrated platform headquartered in Jeddah that specializes in providing technology-driven mobility solutions for people and goods, and currently has 57 companies in the Kingdom. We are expanding our business across cities.
This new investment will strengthen and accelerate SHIFT’s technology-driven innovation, enhancing efficiency, sustainability and connectivity across the Kingdom’s mobility and logistics ecosystem.
Updated September 27, 2024
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