• Kuwait-founded enterprise technology company COFE Tech, formerly COFE App, has closed a pre-IPO funding round at a $178 million valuation, co-led by Wa’ed Ventures, Aditum Investment Management, Masarrah Investment Company and Alyasra Foods. The value of the investment was not disclosed.
• Founded in Kuwait in 2018 by Ali Al-Ebrahim, COFE has evolved from a consumer coffee marketplace into an enterprise technology company that provides AI-powered procurement and commerce infrastructure, alongside its consumer marketplace.
• The company said the investment will support its continued expansion across MENA and preparations for a targeted IPO on the Saudi Exchange by 2029.
• In 2023, Cofe closed a $15 million Series B round led by Wa'ed Ventures, with participation from eWTP Arabia Capital, Al Imtiaz Investment Group, KISP Ventures (KFH Capital) and Rasameel Investment Company.

Press release:

COFE Tech (formerly COFE APP), the leading operator of agentic AI enterprises and the provider of intelligent procurement and commerce infrastructure to more than 1,000 businesses across the Gulf, announced today at LEAP 2026 the close of a pre-IPO funding round valuing the company at $178 million. The round was co-led by Wa'ed Ventures, the domestic venturing arm of Aramco, Aditum Investment Management, the regional fund partner to global financial giants like BlackRock, Masarrah Investment Company and Alyasra Foods. The investment puts COFE Tech, dubbed as the “Salesforce of MENA”, on course for a targeted IPO on the Saudi Exchange by 2029, aligned with the ambitions of Saudi Vision 2030.

“Too many companies in our region still run procurement, sales and inventory on systems that do not talk to one another, and that gap costs them efficiency at every step,” said Ali Al-Ebrahim, founder and CEO of COFE Tech. “COFE Tech brings those operations into a single intelligent platform, where agents watch the business, anticipate what it needs and act on its behalf, before a shelf runs empty or a customer is kept waiting. The backing from Wa'ed Ventures, Aditum Investment Management, Masarrah Investment Company and Alyasra Foods reflects confidence in our read on where enterprise software in the Gulf is heading, and we intend to turn that into continued growth across the MENA region.”

Al-Ebrahim added: “Since COFE launched out of Kuwait in 2018, we have expanded quickly across the Gulf, including the UAE and Saudi Arabia. The business and innovation environments in Kuwait, Saudi Arabia and the UAE are what made that pace possible. COFE Tech today is a working example of what the innovation-enabling economic visions of the Gulf countries can produce when they line up, and of the AI-ecosystem this region gives ambitious Gulf companies to grow and scale regionally. We thank all our investors for their continued trust and confidence in our vision, and for their support for our team.”

“COFE Tech is built as one core with two engines, a foundation flexible enough for an enterprise to start with a single workflow and extend across its whole operation without re-platforming,” said Shahood Siddiqui, Chief Technology Officer of COFE Tech. “That architecture is proving itself in production: enterprises across the Gulf have transformed how they run growth, procurement and finance on it, with our agents working inside their day-to-day decisions. This round lets us take that foundation further.”

Anas Algahtani, Chief Executive Officer at Wa’ed Ventures, said: “COFE Tech has demonstrated an impressive ability to evolve from a consumer marketplace into an enterprise technology platform addressing critical procurement and commerce challenges. Its growing adoption across Gulf enterprises validates both the strength of its technology and the scale of the opportunity ahead. We see significant potential for COFE Tech to deepen its presence in Saudi Arabia and build an institutionally ready technology company with long-term regional relevance.”

“Aditum Venture Capital Fund’s participation in this round reflects its approach to identifying compelling investment opportunities globally and across regional markets in MENA, supported by Aditum Group’s presence in UAE and Saudi Arabia,” stated Manoj Mahadev, Head of Investments, Aditum Investment Management.

“COFE Tech represents the type of opportunity Aditum VC looks for, combining disciplined expansion across key regional markets with a growing enterprise business and an evolving governance framework that positions the business for its next stage of growth. This combination of regional growth potential and institutional capabilities is central to how Aditum evaluates VC investment opportunities,” stated Sonali Goila, Head of VC, Aditum Investment Management.

Dalal Al Mutlaq, Principle and Board member at Masarrah Investment Company, said: “Building enduring businesses requires patient capital and the ability to support companies as they move into more ambitious stages of development. COFE Tech has grown from its roots in Kuwait into a technology business serving more than 1,000 enterprises across the Gulf region, while continuing to broaden the role its platform plays for enterprise customers. Masarrah sees strong potential in the company’s next chapter and the value it can build as it continues to scale.”

Yousef Nasser Alfulaij, Head of Real Estate and Projects at Alyasra Group, said: “Our participation in this round reflects our strong conviction in the company’s growth potential and the opportunity for ambitious technology companies to build a strong foundation in the region and scale from here. Since its founding, COFE has demonstrated a clear ability to evolve and enter new markets, reinforcing our confidence in the management team’s ability to lead the company through its next phase of growth, strengthen COFE’s presence across the GCC, and expand beyond the region.”

The closing of COFE Tech’s funding round was announced during LEAP 2026 in Riyadh, with the company represented by Founder and CEO Ali Al-Ebrahim and Co-Founder Hamad Musaed Al-Sayer, alongside representatives of the participating investors.

The latest round of investment backs the progress COFE Tech has made in growing from a consumer marketplace to an operator of agentic AI enterprises, along two principal tracks. The first is Agentic Procurement, a unified enterprise procurement infrastructure solution. The second is Agentic Commerce, a unified enterprise technology infrastructure solution. Both run alongside the company’s direct-to-consumer marketplace, the business where the platform was first built and proven.

COFE Tech today serves more than 1,000 clients across 3,000 outlets in Saudi Arabia, Kuwait and the United Arab Emirates, spanning coffee shops and restaurants, hotels, hospitals, education, aviation and corporates. Clients include Emirates, Etihad Airways, Kuwait Airways, Al-Futtaim Group, Kuwait Finance House, the Central Bank of Kuwait, stc, Aramco and Alibaba Cloud, among others.