ACWA Power establishes new business unit in KSA

Nejree, an online sneaker retailer in the GCC, has raised $4 million in pre-Series A funding led by Alkhaila Investment Company, and Teejan Technologies Company.

The new capital is expected to further fuel the Saudi-based startup’s expansion into new markets and investment in technologies to enhance online customer experience. The fund will also help to increase inventory, product line, warehouse capacity, vehicle fleet, and build a solid operational system.

“Nejree is extremely proud to have obtained the support of exceptional investors in this round of financing. Support from such strong investors indicates the tremendous level of confidence in our brand, mission and growth strategy,” said Ibrahim Al-Mogren, founder and CEO of Nejree.