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[FUNDING NEWS] Kuwait-Based Traveltech Waves Secures Undisclosed Amount Funding

Waves, the top GCC online marketplace for scheduling boat tours, aquatic sports, and vacation rentals, has revealed the conclusion of a funding round that was co-led by Aujan Enterprises and BNK Capital.

Waves, the top GCC online marketplace for scheduling boat tours, aquatic sports, and vacation rentals, has revealed the conclusion of a funding round that was co-led by Aujan Enterprises and BNK Capital.

On this occasion, the co-founder and CEO of Waves, Abdulrahman Al-Sadoun, said with pride and honor, “After the successful launch of our operations in Kuwait since 2021, we announce at Waves the closure of a successful investment round, which witnessed the joining of prominent institutional investors to our cap table, where we intend to invest a large portion of this investment in enhancing our services in the Kingdom of Saudi Arabia, participating in achieving Vision 2030 and the Red Sea projects, being our key growth priorities.”

He also added, “With the progress of the Red Sea projects, which have created exciting investment opportunities to develop tourism infrastructure and enhance marine tourism and entertainment in the region, we strongly believe in the importance of supporting these projects and integrating our services with them, with the aim of enhancing tourism. We are pleased to be part of these efforts aimed at strengthening the maritime economy and improving the quality of life in the region.”

Read also – Taiwan-Based Gogoro Secured $50 Million in Funding

Waves co-founder and CFO Sulaiman Altunaib said the company had great success in Kuwait and plans to expand to Dubai in the United Arab Emirates and the Eastern Province in Saudi Arabia. This reflects our commitment to provide unique experiences for customers wherever they are and meet their needs in a distinguished manner through the integration of a variety of complementing services.

Read also – India-Based AstroTalk Secures $9.5 Million in Series A Funding

Waves app, the first of its type, makes booking trips, marine activities, and chalets easy. Food and maritime equipment can be ordered with the voyage and delivered to the yacht/boat before departure. Marine services and sea tourism are the focus of digital economy expansion. Waves App is available in Kuwait, Saudi Arabia, Qatar, and UAE.

About Waves

Waves is the first application in Kuwait and the region to elevate entertainment.
They streamline boat owner-user interactions.

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