Riyadh – Exclusive Sharikat Mubasher: Mohamed Aladwan, CEO of Buraq AI, revealed that the company is close to closing a new funding round, having already secured 40% of the total amount before the Biban 2025 Conference, with the remainder expected to be finalized following discussions with potential investors during the event.

Speaking to Sharikat Mubasher, Aladwan explained that Buraq AI was founded in March 2024 with the support of the Ministry of Communications and Information Technology (MCIT), represented by the National Technology Development Program (NTDP), alongside Monsha’at. The company currently serves several major clients, including the General Authority for Small and Medium Enterprises (Monsha’at) and Saudi Azm.

Discussing Buraq AI’s business model, Aladwan said the company’s top priority is to support clients throughout their business journey, offering seamless integration of ERP and CRM systems through its AI-powered platform to enhance operational efficiency and business growth.

Organized by Monsha’at, Biban 2025 took place from 5 to 8 November in Riyadh with the theme ‘A Global Destination for Opportunities,’ bringing together startup founders, investors, global CEOs, policymakers, and thought leaders.

The forum welcomed over 200 local and global speakers and 1,000 exhibitors from 150 countries with the aim of sparking strategic partnerships, unveiling new agreements, and creating financing, training, and advisory solutions to accelerate the growth of startups and SMEs.