Nuwa Capital has invested in Speero. Speero operates a SaaS-enabled auto parts and repair platform and has quickly become central to the industry’s transformation in Saudi Arabia. The SAR 6,750,000 (US$ 1.8 million) pre-Series A round was co-led by Nuwa Capital and EQ2 Ventures, and other investors include Jameel Investment Management Company (JIMCO), Impact46, and Access Bridge Ventures.
“The auto industry has up until this point been fragmented and resistant to digital transformation. Through its platform, Speero enables all participants in this segment to transact more transparently and effectively to the benefit of all.” said Sarah Abu Risheh, Partner at Nuwa Capital.
“We are excited to welcome Nuwa Capital as an investor in Speero as we advance to the next stage of our journey to digitalise the automotive after-sales ecosystem in Saudi Arabia. As a regional investor, Nuwa Capital understands the needs of the Kingdom’s innovators and we believe their track-record together with their investment philosophy will play an important role in shaping our growth,” said Abdullah Bin Shamlan, cofounder and Managing Director, Speero.
