Aramco’s venture arm leads Zension’s $30mln series A Round

Reuters/REUTERS

Zension secured $30 million in a series A Round to launch its new business vertical Zaam and drive expansion in the GCC region, according to the company’s statement

Staff Writer, Mubasher

January 7, 2025

PHOTO

Wa’ed Ventures, the $500 million venture capital arm of Aramco, led a funding round for consumer electronics startup Zension Technologies.

Zension secured $30 million in a series A Round to launch its new business vertical Zaam and drive expansion in the GCC region, according to the company’s statement.

Zaam will provide customers with a new way to purchase and own their tech devices.

The buy-back services and subscription-based technology upgrades aim to lengthen the lifespan of smartphones. This is in addition to lowering waste in the region’s largest economy and market for mobiles.

Last month, Wa’ed Ventures led edtech YNMO’s $5 million investment to expand its services and introduce new features.

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