Autonomous Technology Expansion: Clevon Announced Partnership with Rigel Capital and The Ministry of Investment of Saudi Arabia

In a groundbreaking partnership that symbolizes the intersection of innovation,…
Ops Team
October 30, 2023

In a groundbreaking partnership that symbolizes the intersection of innovation, sustainability, and investment, Rigel Capital has teamed up with Clevon, a global leader in autonomous delivery technology, and the Ministry of Investment of Saudi Arabia (MISA) to reshape the landscape of last-mile logistics in the Kingdom of Saudi Arabia (KSA).

A Vision of Progress
This collaboration comes as a significant stride toward realizing the ambitious goals of Saudi Arabia's Vision 2030, a comprehensive roadmap for the nation's transformation. At its core, this vision seeks to diversify the Saudi economy, foster innovation, and drive environmental sustainability. Clevon, with its cutting-edge self-driving technology powered by artificial intelligence, is set to play a pivotal role in achieving these objectives.

Empowering the Logistics Sector
Clevon's autonomous delivery technology is set to revolutionize the logistics sector, making it more efficient and environmentally friendly. Through this innovative technology, last-mile deliveries become not only quicker but also more sustainable, aligning perfectly with the global shift toward eco-conscious practices. The partnership aims to position Clevon at the forefront of the burgeoning eCommerce and logistics market in the GCC region.

The Value of Partnership
Rigel Capital's involvement in this venture is more than just financial support. With extensive experience in logistics, new technologies, and fund management, the investment firm is ideally placed to drive value and success in this groundbreaking collaboration. Rigel Capital recognizes that this partnership is more than just a financial transaction; it's an opportunity for different entities to unite around a shared mission.

A Visionary Statement
Wail AlSabbali, one of our Venture Partners, highlights the significance of this partnership, emphasizing that it is an opportunity for diverse stakeholders to come together with a unified purpose: to localize and deploy advanced last-mile technology, positioning the Kingdom of Saudi Arabia as a global centre for technological innovation.

Charting a Pioneering Course
Sebastian Togelang, our Founding Partner, expresses pride in the milestone achieved through this partnership and underscores the importance of Saudi Arabia in Rigel Capital's growth and ambitions. He states that Rigel Capital is delighted to bring innovative and sustainable technology to the KSA. Furthermore, he underscores the company's commitment to seeking additional opportunities to invest in and partner with technologies across various industries in Saudi Arabia and the wider Middle East.
In conclusion, the partnership between Clevon, the Ministry of Investment of Saudi Arabia, and Rigel Capital is more than a collaboration; it's a visionary step toward a sustainable, technologically advanced future for Saudi Arabia and the Middle East. As these entities come together with a shared mission, they're poised to leave a lasting mark on the world of logistics and technology, putting Saudi Arabia at the forefront of global innovation.

Read Clevon's "Partnering with the Ministry of Investment of Saudi Arabia and Rigel Capital" article for further details.

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