Saudi-based Retail enablement company Zid has raised USD50 million in Series B funding round (~188 million SAR).
The round was led by IMPACT46 with participation from investors including Aramco venture capital arm (Waed Ventures) and Endeavour Catalyst, Global Ventures, Elm Company, Arzan and MSA.
The proceeds will be used by Zid to expand into new markets in the Middle East region, conquer new retail verticals, plus digitizing and automating more innovative solutions to modernizing the retail sector.
Latham & Watkins has advised Zid in the funding round. The team was led by Dubai partner Eyad Latif and counsel Omar Maayeh.