Red Sea Global Partners Bunat VC to Back AI Startups in Saudi Arabia
This partnership is designed to accelerate the development of these startups into national and regional champions in the AI ecosystem.
Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, has announced a strategic partnership with Bunat Ventures Limited (Bunat VC), to launch a first-of-its-kind venture fund focused on artificial intelligence (AI)-driven startups in the Kingdom of Saudi Arabia.
The AI Venture Fund will invest in early- and growth-stage startups that are either AI-native or leverage AI as a core enabler of their business models. Over the next three years, the Fund aims to support approximately 25 startups through both pre-seed and growth-stage investments. Beyond capital, the Fund will provide investee companies—particularly those based in Saudi Arabia—with access to world-class infrastructure and a state-of-the-art environment to pilot and validate their technologies within RSG’s real-world operations. This partnership is designed to accelerate the development of these startups into national and regional champions in the AI ecosystem.
“At Red Sea Global, we view innovation as a catalyst for a regenerative future. This partnership with Bunat VC reflects our belief that technology is fundamental to sustainability, enabling us to invest in bold ideas that will accelerate the Kingdom’s digital transformation and inspire global progress”
– Sultan Moraished, Group Head of Technology and Corporate Excellence, Red Sea Global
With a focus on Saudi-based entrepreneurs and Saudi-founded global ventures expanding into the Kingdom, the Fund aims to unlock new pathways for innovation, job creation, and digital excellence. It is expected to act as a catalyst for the local innovation ecosystem, fostering collaboration between investors, academia, and technology partners. It will also attract global talent and promote knowledge exchange to ensure long-term value creation and sustainable growth.
“Our collaboration with Red Sea Global brings together visionary development and agile venture capital. Together, we are building a platform to empower the next generation of Saudi AI pioneers who will redefine industries, shape communities, and strengthen Saudi Arabia’s leadership in the global innovation arena.”
– Khaled Zainalabedin, CEO and Managing Partner, Bunat VC
RSG welcomed its first guests to The Red Sea in 2023 and now operates 10 resorts, as well as Red Sea International Airport (RSI), which receives regular flights from Riyadh, Jeddah, Dubai, and Doha. This year, Shura Island, the heart of The Red Sea, is opening its first resorts, as well as Shura Links, an 18-hole championship golf course.
