Riyadh – Sharikat Mubasher: COFE Tech, a technology company specializing in AI-powered procurement and commerce solutions, secured an investment from KSH Investments LLC, the international investment platform of the Private Department of H.E. Sheikh Mohammed bin Khalid Al Nahyan, through PVP Innovation Fund CEIC Limited.
According to a recent press release, this investment comes as COFE Tech advances its growth plans following a pre-IPO funding round earlier this month that valued the company at $178 million. The company is targeting a stock market listing by 2029.
Formerly known as COFE App, COFE Tech provides enterprise procurement and commerce infrastructure to more than 1,000 clients across 3,000 outlets in Saudi Arabia, Kuwait, and the UAE. Its clients include Emirates Airlines, Etihad Airways, and Al-Futtaim Group.
The company operates across two main business lines: AI-powered procurement solutions and enterprise commerce infrastructure, alongside a direct-to-consumer e-commerce business.
On this occasion, Ali Al-Ebrahim, Founder and CEO of COFE Tech, said: “The UAE is the global capital of the new economy, and we are honored by the confidence that the Private Department of H.E. Sheikh Mohammed bin Khalid Al Nahyan has placed in COFE Tech.”
