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Saudi Arabia-based COFE Tech has secured an undisclosed investment from Phoenix Venture Partners and participating investors, following a pre-IPO funding round that valued the company at $178 million. The company is preparing for institutional expansion while targeting a potential listing by 2029.
COFE Tech, which began in Kuwait as an online coffee marketplace, closed a pre-IPO funding round at a $178 million valuation without disclosing the investment amount. The company plans to use the funding to expand its AI-powered procurement and enterprise commerce solutions in the region, while targeting a Saudi listing by 2029.