Saudi Arabia’s Elm Company, which is owned by the Public Investment Fund (PIF), has increased its ownership interest in Sahl Almadar Trading Company, which operates a digital logistics platform.

The technology firm said on Tuesday that it has raised its investment in Sahl Almadar from the previous 30% to boost its digital solutions offering, but it did not disclose the exact size of the stake being acquired.

Sahl Almadar runs Madar, a digital platform that links shippers and carriers, as well as provides solutions in logistics operations.

Elm had announced its 30% stake acquisition in Sahl in 2021.

(Writing by Cleofe Maceda ; editing by Seban Scaria) seban.scaria@lseg.com