Beltone Venture Capital Backs ariika and Lychee’s Expansion in Saudi Arabia

Both companies are preparing to expand their business in Saudi Arabia by opening a total of five new stores in Riyadh.

Through this move, BVC aims to do more than just invest in startups. The firm wants to help Egyptian brands grow into leading companies across the Middle East.

Ali Mokhtar, CEO of Beltone Venture Capital: "ariika and Lychee represent exactly what we look for: homegrown Egyptian brands with proven profitability, exceptional leadership, and the ambition to redefine their categories across the region. We are long-term partners in building the next generation of MENA consumer powerhouses. With a combined five new stores opening in Riyadh, this is just the beginning."

Khaled Attallah, CEO and Co-Founder of ariika: "Saudi Arabia has always been central to our regional vision. Opening two stores in Riyadh is not just an expansion, it is a statement. We have built a brand that resonates deeply with consumers who value design, quality and an exceptional experience, and we are confident that ariika will find its home in the Saudi market just as it has across Egypt and Iraq. This is the next chapter, and we are only getting started."

Mohamed Assy, Founder and CEO of Lychee: "We have been building this moment for years. Saudi Arabia is not just another market for us; it is the foundation of our regional ambition. We spent considerable time understanding the Saudi consumer deeply – their rhythms, their tastes, and their expectations – before committing to this expansion. Opening three stores in Riyadh is our declaration that Lychee belongs in this market, and we intend to lead the healthy F&B space here just as we have done in Egypt."

ariika, a direct-to-consumer home furnishing brand led by Khaled Attallah, plans to open two new stores in Riyadh as part of its expansion into Saudi Arabia.

Lychee, a healthy food and beverage brand founded by Mohamed Assy, will open three new stores in Riyadh to grow its presence in the Saudi market.

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