RIYADH: Tali Ventures, of the STC Group’s corporate venture capital arm, and NorthLadder, a top device trade-in platform in over 10 countries, have completed a $10 million Series B investment round, the Saudi Press Agency (SPA) reported on Wednesday.
The investment also had additional funds from the Dutch Founders Fund and Crescent Ventures.
The STC Group is a top digital enabler and this investment shows the group’s commitment to promote a vibrant entrepreneurial ecosystem across its operating markets, and supporting a more sustainable future.
Tali Ventures focuses on strategic investments in high-growth companies from early to late stage. The launch of Tali Ventures is another landmark in the group’s commitment to driving digital transformation and sustainable growth.
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Corporate Fund and Entrepreneurship GM at STC Majed I. Aljarboua said: “This investment aligns with Tali Ventures and STC Group’s shared goal of propelling technological advancement and nurturing start-ups to shape the future of technology and society. NorthLadder’s commitment to circularity perfectly complements our vision of a more sustainable world, where the protection of both community and planet is not a byproduct but a core mission.”
