Latest news with #AstroLabs
Zawya
2 days ago
- Business
- Zawya
Italy's Pronur enters Saudi Arabia to boost energy sector
Riyadh – Italy-based Pronur has launched its business in Saudi Arabia to advance renewable energy solutions across the Kingdom, according to a press release Established in 2021, Pronur works with major local and global entities, including EDISON, Webuild Group's NBI, and GETEC. The launch, facilitated by AstroLabs, aligns with its commitment to deploying advanced technical solutions for renewable energy, energy efficiency, and sustainable resource management. Hatem Shahwan, CEO of Pronur, commented: 'Our entry into the Saudi market marks an extraordinary opportunity, perfectly aligned with the Kingdom's vision for a sustainable and inclusive future, as outlined in Vision 2030.' Alex Nicholls, director of expansion at AstroLabs, stated: 'PRONUR's recent entry into Saudi Arabia is forging new pathways for the renewable energy transition. PRONUR is at the forefront of delivering the essential infrastructure required to decarbonize hard-to-abate sectors and achieve the Kingdom's climate targets.' 'This signifies PRONUR's clear commitment to advance Saudi Arabia's efforts to achieve Net-Zero emissions by 2060,' Nicholls added. Meanwhile, the Saudi energy development plan aims to lower dependence on fossil fuels and support the diversification of the national energy mix. On its part, Pronur will be able to accelerate the energy transition, develop sustainable solutions, expand strategic partnerships, and promote environmental awareness. Earlier this month , AstroLabs supported UK-based vendor delivery infrastructure (VDI) platform NayaOne's entry into Saudi Arabia to reinforce the Kingdom's financial ecosystem.
Fintech News ME
17-06-2025
- Business
- Fintech News ME
UK's NayaOne Launches Saudi's First Fully Hosted Fintech Infrastructure Platform
UK-based fintech infrastructure provider NayaOne has launched Saudi Arabia's first fully Saudi-hosted Vendor Delivery Infrastructure (VDI) platform, supported by regional business expansion specialist AstroLabs. The launch marks NayaOne's official entry into the Saudi market and is designed to support financial institutions, including banks, insurers, and fintechs, in developing, testing, and deploying products within weeks. Backed by the UK's Department for Business and Trade (DBT), the Saudi-hosted platform connects local institutions to both the domestic technology ecosystem and NayaOne's global network. The platform provides access to synthetic data assets and modular testing environments aimed at reducing proof-of-concept cycles from months to days, while maintaining compliance and security standards. NayaOne, which recently partnered with the UK's Financial Conduct Authority (FCA) and Nvidia to provide infrastructure for a new AI sandbox, is now expanding its presence in the Gulf. The company sees this development as a key milestone in strengthening UK-Saudi ties in fintech. 'Hosting our platform inside the Kingdom removes data-sovereignty friction and lets institutions move from idea to execution in weeks,' said Karan Jain, NayaOne's Founder and CEO. 'We are grateful to have flagship clients, partners like AstroLabs, support from the KSA ecosystem, and encouragement from the UK Government to grow our impact globally. At NayaOne, we look forward to helping other UK businesses who are interested in operating in KSA.' Several Saudi financial institutions and fintech firms are already using the sandbox to test applications in areas such as embedded finance, SME lending, cybersecurity, remittances, and AI. Additional participants are expected to join, further embedding the VDI platform as part of the country's financial innovation infrastructure. UK Minister for Investment Baroness Gustafsson CBE said: 'The UK is home to some of the best tech businesses in the world, so I'm delighted that NayaOne will help boost financial innovation in KSA, reflecting the strength of UK-Saudi collaboration in digital and financial innovation. Our upcoming modern Industrial Strategy will be international from the start, working and deepening our partnerships with countries like Saudi Arabia to support our economic growth.'
Zawya
17-06-2025
- Business
- Zawya
UK-based NayaOne enters Saudi fintech market
Riyadh – NayaOne, a UK-based vendor delivery infrastructure (VDI) platform, has marked its entry into Saudi Arabia with support from AstroLabs, according to a press release. NayaOne launched the Kingdom's first fully Saudi-hosted platform, allowing banks, insurers, and fintechs to design, test, and introduce products in weeks. This supports the Saudi Vision 2030's goal of creating a digitally advanced and inclusive financial ecosystem. Backed by the UK's Department for Business and Trade (DBT), this launch provides Saudi institutions access to the local tech ecosystem as well as the wider NayaOne ecosystem globally. This expansion marks a milestone in UK-Saudi fintech collaboration, bridging British innovation with Saudi market momentum. Karan Jain, Founder and CEO of NayaOne, commented: 'Hosting our platform inside the Kingdom removes data-sovereignty friction and lets institutions move from idea to execution in weeks.' Baroness Gustafsson, UK Minister for Investment, said: 'The UK is home to some of the best tech businesses in the world, so I'm delighted that NayaOne will help boost financial innovation in KSA, reflecting the strength of UK-Saudi collaboration in digital and financial innovation. Gustafsson added: 'Our upcoming modern Industrial Strategy will be international from the start, working and deepening our partnerships with countries like Saudi Arabia to support our economic growth.' Commenting on NayaOne's expansion, Alex Nicholls, Director of Expansion at AstroLabs, mentioned: 'NayaOne's expansion will accelerate the development of a new subset of products that meet the demands of a fast-moving market and support financial inclusion.' Nicholls noted: 'With its newly launched hub in Riyadh, NayaOne is uniquely positioned to deliver a greater impact by fostering closer partnerships with leading FIs and fintech innovators in Saudi Arabia, making it a powerful catalyst for innovation within the local financial services and banking sector.' Saudi Arabia's fintech market recorded remarkable growth over recent years, supported by government initiatives, regulatory support, and increasing needs for financial services. Hence, fintech is expected to reach a market value of $87 billion in 2029, up from $64 billion in 2024.
Daily Tribune
26-05-2025
- Business
- Daily Tribune
17 Companies set sights on Saudi
TDT | Manama Seventeen Bahraini companies are preparing to establish a formal presence in the Saudi market through the Overseas Expansion Program led by Tamkeen in partnership with Gulf-based platform AstroLabs. Now entering its second phase, the initiative aims to support the regional growth of high-potential Bahraini enterprises. It reflects Tamkeen's 2025 strategy to enhance the role of Bahrainis in the private sector while promoting enterprise sustainability, digitisation, and workforce development. AstroLabs Chief Strategy Officer Joe Kobrianos said the collaboration will provide the selected companies with a smooth entry into Saudi Arabia. 'From registration to market access, we're here to guide them,' he said, noting the readiness of Bahraini businesses to scale up. Second Cohort Among the newly selected firms are Creative Matter Advertisement, Fathom Media, and Gems Industrial Services, each bringing niche expertise in creative services, technology, and engineering. They are joined by Braxtone Group, an insurance solutions provider, and DOO, a startup using AI to enhance customer engagement. Also in the cohort are Alfaa Graph, which designs architectural scale models, IT solutions provider Nexcel Computer Solutions, and mobile loyalty platform Loyale. Many of these firms already operate in the Kingdom and are now formalising operations by setting up legal entities. AstroLabs is providing end-to-end expansion support, from compliance to market introduction. First Batch The first cohort saw ten companies make the leap, including packaging manufacturer Bahrain Pack, dietary service Right Calories, 3D manufacturing firm Xtrude, and City Glass, a producer of decorative and architectural glass. Other members included Tanami Capital, Oreem, Boxon Vision, Cinqo Media, and Al-Anzour Physiotherapy and Rehab Complex. These firms helped prove the model's success, achieving early gains in Saudi Arabia. Strategic Fit The two cohorts now join more than 800 companies that have expanded into the Kingdom through AstroLabs. The company has assisted over 1,800 businesses in entering markets across the Gulf, particularly in Saudi Arabia and the UAE. Tamkeen's Director of Workforce, Enterprise, and Startup Enablement, Marwa AlEskafi, said the results affirm Tamkeen's strategy. 'We are proud to see the impact of the first cohort and look forward to the growth of this new batch,' she said.
Biz Bahrain
26-05-2025
- Business
- Biz Bahrain
17 Bahraini Companies to Expand into the Saudi Market through Tamkeen's Overseas Expansion Program in Partnership with AstroLabs
AstroLabs, the Gulf's leading business expansion platform, in partnership with the Labour Fund (Tamkeen), continues to accelerate the regional growth journey of Bahraini enterprises with the onboarding of a second wave of companies into its Overseas Expansion Program. Since the launch of the initiative, AstroLabs and Tamkeen have successfully onboarded two cohorts of high-potential businesses, all poised to solidify their presence in the Saudi market —a market with high growth opportunities and a strategic gateway to regional expansion. Tamkeen's partnership with AstroLabs aligns with its strategic priorities for 2025, which focus on enhancing the position and competitiveness of Bahrainis in the private sector, equipping Bahrainis with suitable skills for career development in the private sector, and prioritizing enterprise growth, digitization and sustainability and supporting the development of the ecosystem surrounding the labor market and private sector. On this occasion, Mr. Joe Kobrianos, Chief Strategy Officer at AstroLabs, stated: 'We're excited to work alongside Tamkeen to help Bahraini businesses on their regional-growth journey, and expand into the fast-growing Saudi market. Tamkeen has played a key role in enhancing the competitiveness of Bahraini companies, setting the stage for their next steps. These businesses have demonstrated strong growth and are now ready to scale into Saudi Arabia. At AstroLabs, we focus on building strong growth corridors and seamless soft-landing experiences, supporting high-growth businesses, from business registration all the way to making key introductions and unlocking access to the local market, we're here to guide them.' Mrs. Marwa AlEskafi, Director of Workforce, Enterprise, and Startup Enablement at Tamkeen, commented: ' Our partnership with AstroLabs reflects Tamkeen's commitment to empowering Bahraini entrepreneurs, equipping them with the necessary tools to scale their operations, and unlocking new opportunities for regional growth. We continue our commitment in supporting Bahraini entrepreneurs through our various programs and initiatives, and we are proud to see the positive impact of this program on the previous Cohort and are looking forward to witnessing the growth prospects it will bring to this new batch of innovative businesses.' The first cohort with AstroLabs brought together a dynamic group of ten leading Bahraini companies. These include United Paper Industries (Bahrain Pack), a prominent manufacturer of paper and corrugated cardboard packaging solutions; Right Calories, a renowned food services provider offering balanced dietary plans; Xtrude, an innovator in advanced 3D manufacturing processes; and City Glass, a specialist producer of premium architectural and decorative glass products. The cohort also featured Tanami Capital, a firm delivering Sharia-compliant global investment solutions; Oreem, a comprehensive logistics provider; Boxon Vision, a creative agency delivering advertising and design solutions; Cinqo Media, a strategic communications and advertising provider; and Al-Anzour Physiotherapy and Rehab Complex that offers quality physiotherapy and rehabilitation services. Building on this momentum, AstroLabs and Tamkeen are proud to announce the onboarding of Cohort 2, a new wave of equally ambitious and high-growth Bahraini enterprises. Among these are Creative Matter Advertisement, a dynamic creative agency with a decade-long legacy in Bahrain, specializing in branding, digital marketing, and content creation. Fathom Media, a Bahrain-based marketing and technology agency founded in 2013, joins with its 30-strong team delivering innovative branding, web and app development, and strategic marketing services. Gems Industrial Services W.L.L, established in 2016, brings its expertise in engineering, maintenance, and industrial services catering to Bahrain's vital oil and gas sectors. Braxtone Group W.L.L, a regional insurance service provider, offers industry-leading insurance solutions with deep local market expertise. DOO, an AI-powered platform, is transforming customer engagement through intelligent automation solutions tailored to startups, SMEs, and enterprises. Alfaa Graph, a specialist engineering office, delivers architectural scale models and 3D design services to real estate developers and investors. Nexcel Computer Solutions W.L.L, a leading IT solutions provider offering a broad range of technology products and services to businesses of all sizes. And Loyale, a mobile loyalty app that ensures customers always have their loyalty cards handy while enabling businesses to effortlessly track customer activities. These companies have shown strong market leadership and strategic ambition, with many already operating in Saudi Arabia. Their next step is to formalize their presence by setting up legal entities and enhancing operations. AstroLabs will support this expansion with end-to-end services, including business registration, compliance, and growth support, along with access to digital tools and expert consultancy. Through this partnership, the Bahraini companies from both cohorts join a growing network of over 800 international firms that have expanded into Saudi Arabia with AstroLabs' support. Working hand-in-hand with public and private sector partners, AstroLabs designs tailored programs that foster innovation, bridge industry gaps across key sectors in the Gulf, and facilitate market expansion into emerging economies. To date, AstroLabs has empowered over 1,800 companies to scale across the region, providing a robust and professional business environment that ensures seamless market entry, particularly in Saudi Arabia and the UAE. Tamkeen continues to offer a range of programs and initiatives that are designed in line with labor market needs and is driven by its strategic priorities and support initiatives which include employment support, career development support and enterprise support programs.
