StartupsA bold investment

Saudi Startup Pala De 7 Secures an Investment of SAR 3.75M

On December 14, 2023, in Jeddah, Pala De 7 (Pd7) successfully secured an investment totaling SAR 3,750,000 from Grintafy, AlTahan, and Shaghaf Investments. This funding injection is geared towards introducing an innovative platform specifically designed for padel enthusiasts across the Middle East, with its initial launch in Saudi Arabia.

Pala De 7’s Vision for a User-Centric Platform

Pala De 7’s primary goal is to cater to the Padel community by offering a user-focused platform. This platform will facilitate effortless field registration, simple booking processes, and an enriched user experience empowered by AI technology for optimized game matching.

The infused investment will be utilized to expand ‘Pd7’ nationwide, integrating cutting-edge technology to streamline pre-booking, gameplay, and post-booking experiences. Tarek Ashoor, the Founder and CEO of Pd7, expressed his enthusiasm, stating, “I’m thrilled that my vision resonates with companies passionate about padel. We’re poised to elevate the padel experience to new heights. A thrilling new approach to enhancing padel enjoyment is on the horizon.”

Grintafy spearheaded the investment round, aiming to diversify into additional sports beyond football, thus furthering the development of the sports tech ecosystem in the region. This strategic move aligns with Grintafy’s evolution within the sports industry, in harmony with Saudi Arabia’s Vision 2030 and the Ministry of Sports’ objectives. The advanced technology offered by Grintafy will enhance the Pd7 platform. Majdi Allulu, CEO of Grintafy, remarked, “Venturing into a new sport is an exciting milestone for us. The recent surge in padel’s popularity, particularly in Saudi Arabia, has captured our attention. We’re replicating Grintafy’s success story in other sports, which has been our vision from the outset.”

Majed M. AlTahan from AlTahan Investments also expressed confidence in the partnership, stating, “We’re excited to collaborate with this pioneering e-platform, which we believe will redefine the paddle sports experience—a sport witnessing a surge in popularity in the region. Our investment underscores our confidence in the vision and potential of Pala De 7.”

Pd7 is scheduled for launch in early 2024 and will be available for download on both iOS and Android platforms.

Read Also: Techstars Accelerator Celebrates the Graduation of 12 Startups

Related Articles

Back to top button