Zetta Technologies has successfully closed a pre-seed investment round led by Corevision Investments worth 5.6 million SAR, equivalent to 1.5 million USD.
Commenting on the deal’s success, Zettatech’s CEO, Badriya Masrihi, stated that the funding marks a new chapter in their journey towards growth and innovation.
She noted that this is Corevision’s first step into the hardware-as-a-service (HaaS) sector, with Zettatech taking a unique approach as a DaaS (Device as a Service) provider, focusing on maximizing customer liquidity.
Zettatech is committed to providing flexible repayment plans for institutions and companies of all sizes, enabling them to maximize the use of their devices without the need for significant upfront investments in hardware, software, and infrastructure.
Monthly or quarterly fees are paid to access the latest devices and technologies without concerns about consumption or the costs associated with device ownership and management, according to Masrihi.
She explained that the strategic partnership with Corevision reflects confidence in their company’s vision and capabilities to succeed in the DaaS market.
Masrihi also revealed their intention to plan additional agreements to enhance service delivery in the best possible ways.
Meanwhile, Faisal Al-Abdulsalam, CEO and founder of Corevision Investments, stated that the agreement with Zetta supports Saudi Arabia’s direction towards activating its 2030 strategic vision in business.
Al-Abdulsalam praised Saudi youth innovation and the company’s commitment to supporting entrepreneurial thinking and encouraging innovation in promising market sectors.
