Kara, a startup that specializes in providing renting services for consumer electronic devices to institutions, announced today the closing of its first investment round in the pre-seed stage, at a value of SAR 2.2 million, with the support of Falak Investment Hub, Lean Node, and a group of angel investors.
Adwa AlDakheel, CEO of Falak Investment Hub, expressed her happiness with this successful round and said, “We are proud to have played such an important role in Kara’s journey and can’t wait to see them continue to make a positive impact on the environment. Their commitment to sustainability is not only good for our planet but also for us, for business."
Abdulrahman Alzaid, Chief Operating Officer of Lean Node added, "We believe in Kara's vision for a more sustainable future through their innovative approach to renting devices and commitment to reducing e-waste. Kara's model has the potential to bring about radical changes in the way organizations think about their acquisition mechanism technology.”
This round is to help Kara expand its customer base, improve its renting platform, and continue to promote sustainability in the technology industry. "We're just getting started. We're on a mission to make a real difference. With the support of our investors, we're confident we can achieve our goals to reduce technology waste and promote sustainability," said Kara's Founder and CEO, Saad Zitouni.
About Kara:
Kara is a consumer electronics rental service that helps organizations improve productivity by providing efficient technology while reducing the financial and environmental impact of owning devices. By focusing on sustainability and providing flexible renting options, Kara offers the best way for organizations to meet their technology needs. For more information, please visit this link.
About Falak Investment Hub
Falak Investment Hub is a fully-fledged investment firm and Saudi Arabia’s leading business accelerator that supports tech startups and entrepreneurs across the Middle East and North Africa. We provide in-kind and direct funding, mentorship, access to strategic investors and partners, customized training, and workshops to help entrepreneurs develop their businesses. In FY2022, Falak invested SAR15 million to create a better ecosystem for startups to thrive and reach their potential. For more information, please visit www.falak.sa
Kara with the support of Falak Investment Hub announces the closing of its first investment round
With a Value of SAR2.2mln
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