WakeCap, a Saudi-born startup at the forefront of digital transformation in the construction industry, has announced a $28 million funding round secured during the Saudi-American Investment Forum.
The capital injection is set to fuel the company’s expansion strategy and enhance its safety-focused digital wearable solutions.
The company specializes in wearable IoT-based technology, allowing contractors and project managers to monitor site workers and field activities in real time, thereby reducing risks and enhancing operational efficiency on complex construction projects.
“This funding will enable us to scale our operations, strengthen our technology stack, and extend our market reach,” said WakeCap’s leadership during the Forum.
This investment comes amid a surge in Saudi Arabia’s venture capital landscape. According to MAGNiTT, Saudi Arabia overtook Singapore as the top VC market in emerging economies, raising $391 million in Q1 2025, reflecting a 53% YoY growth, despite a dip in the number of deals.
Founded in the Kingdom, WakeCap is now poised to scale across regional and international markets, continuing its mission to digitally transform one of the least-digitized industries through data integration and smart safety innovation.
