Saudi Arabia-based mobility solutions startup, Shift, has secured $82.8 million (SAR 310.8 million) in funding from Riyadh’s Merak Capital. The tech-driven service provider is expanding its footprint in the Kingdom’s smart mobility and logistics sectors.
Established in 2017 and headquartered in Jeddah, Shift now operates in 57 cities across Saudi Arabia, managing a fleet of over 12,000 vehicles. The company offers a wide range of automated mobility and logistics services, including car-sharing, chauffeur services, car rentals, last-mile and line-haul delivery, and vehicle leasing.
“We are excited to collaborate with Merak Capital, whose investment validates our vision of transforming mobility in Saudi Arabia,” said Khalid Al Sulaiman, Founder and CEO of Shift. “This partnership will fuel our growth, enabling us to expand our services and improve our technology, particularly in the tourism sector.”
Shift’s innovations align with Saudi Arabia’s Vision 2030 goals, supporting economic growth and diversification by enhancing efficiency, control, and sustainability in tourism, transportation, logistics, and other industries.
Discover the State of Funding in MENA – 2019 to 2023 :
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