Clevon signed a memorandum of understanding supporting expansion activities in the Kingdom of Saudi Arabia
Clevon, the Ministry of Investment of Saudi Arabia (MISA), and Rigel Capital signed a memorandum of understanding outlining their intentions
According to the memorandum, the parties will cooperate to attract investments and establish production for Clevon's innovative last-mile autonomous technology in the Kingdom of Saudi Arabia (KSA). Additionally, they will collaborate to launch a branch of Clevon Academy in the KSA. The academy will provide advanced training for robotics and software professionals, enabling them to work in the fields of logistics and robotics of the future, and fully supports the broad development of Clevon’s technology both in KSA and in the wider Middle East region.
Rigel Capital (https://rigelcapital.com/) is an investment fund that provides capital to rapidly growing companies, focusing on emerging economies in Southeast Asia and India. The company has supported numerous technology investments in those regions and is now directing KSA’s investors' interest towards adopting Clevon's technology in that area. Their team consists of investors, operators, and legal experts who have invested in or managed portfolio companies worldwide, including in KSA.
The Ministry of Investment of Saudi Arabia (https://misa.gov.sa/en/) partners with local and international businesses of all scales and sizes from startups to blue-chip multinationals - to help make investing in KSA as streamlined and straightforward as possible. They are also developing a vibrant cross-government investment ecosystem while supporting businesses throughout their investment journey. MISA also leads in improving KSA-s overall business environment.
Further enquiries:
Arno Kütt
Chairman of the management board of Clevon AS
arno.kutt@clevon.com
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