MENA-focused Immensa fuels global expansion plans via $20mln funding round

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Immensa, MENA’s largest additive manufacturing startup, concluded a $20 million funding round led by Global Ventures, according to a press release.

Endeavor Catalyst Fund, Shorooq Partners, and Green Coast Investments also participated in the fundraising transaction, among others.

This marks Immensa's first fundraising effort since its $7 million Series A round in 2021.

Meanwhile, the startup will use the proceeds to boost its global expansion plans, invest further in its software, and widen its Artificial Intelligence (AI) tools.

Immensa seeks to enlarge its business in Saudi Arabia and the UAE, with plans to launch operations in at least two regional countries in the next six months, of which one is likely to be Oman.

The company is already serving Kuwait, Bahrain, Qatar and Jordan.

Immensa operates in the global energy spare parts market, which is valued at $91 billion, of which the Middle East comprises 35%.

Fahmi Al Shawwa, CEO and Founder of Immensa, commented: “By digitising warehouses and creating more agile supply chains, we are paving the way for a new era in the industry.”

“The proceeds will fuel our investment in innovative proprietary technology - including our end-to-end Digital Inventory Solution and AI tools,” Al Shawwa continued.

He noted: “We will also expand geographically, strengthening our presence in Saudi Arabia, the UAE, and Oman, while venturing into North America within the next 18 months.”

Noor Sweid, Founder and Managing Partner of Global Ventures, said: “Immensa is addressing a sector under-explored by additive manufacturers - the $91 billion global energy spare parts market.”

Last June, Immensa launched a $15 million facility in Saudi Arabia’s Dammam to foster its growth plans.