Saudi mobility startup Telgani closes $6 million Series A round
- Saudi Arabia-based mobility startup Telgani has closed a $6 million Series A funding round, co-led by Hala Auto and Elm Company.
- Launched in 2019 by Abdulkader Almkinzy and Ali Alfehaid, Telgani provides a diverse range of transportation solutions and car rental options through its website and app.
- Telgani plans to use the funding to expand its short-term car rental services in Saudi Arabia, as well as offer more tech solutions for flexible car subscriptions.
Saudi Arabia’s Telgani has announced the closing of its Series A funding round of $6M co-led by Hala Auto and Elm Company. Launched in 2019, Telgani provides a diverse range of transportation solutions and car rental options through its website and app.
Telgani has a fast car delivery service and launched many new services last year, including car delivery services at the airport. Following the closing of the funding round, the CEO of Hala Auto, a major distributor for Toyota in KSA, stated: " We are delighted to invest in one of the leading companies in digital mobility that has witnessed many developments. We are confident in the capabilities of the Telgani team to develop the sector and provide market-oriented solutions to enable customers to have the best experiences.”
Telgani plans to use the funding to expand its short-term car rental services in Saudi Arabia, as well as to offer more tech solutions for flexible car subscriptions. On his behalf, the official spokesperson and Deputy CEO of the marketing sector at Elm Company, Majed Bin Saad Al-Arifi stated: 'We are pleased with the great success witnessed by the Series A funding round for the Telgani platform and we confidently look forward to the next stages of its development to enhance its services and innovative solutions and to reinforce its pivotal role in mobility and car rental sector. This step comes in line with Elm's ambitious strategy to expand its investment base and provide all necessary support to startups and SMEs thereby enhancing its role in the entrepreneurship ecosystem and driving innovation in Saudi Arabia."