Kuwait-born COFE Tech has closed a pre-IPO funding round at a $178 million valuation, marking another major step in the company’s transformation from a consumer coffee marketplace into an AI-powered enterprise technology platform.
The round was co-led by Wa’ed Ventures, Aditum Investment Management, Masarrah Investment Company and Alyasra Foods. The amount invested was not disclosed.
The new capital will support COFE Tech’s expansion across the Middle East and its preparations for a targeted listing on the Saudi Exchange by 2029.
Founded in Kuwait in 2018 by Ali Al-Ebrahim, COFE originally built its name as a consumer platform connecting coffee drinkers with cafés and coffee brands. The company has since expanded far beyond its original model, repositioning itself around enterprise procurement, commerce infrastructure and agentic AI.
Today, COFE Tech operates through two core enterprise offerings: Agentic Procurement, which brings procurement workflows onto a unified intelligent infrastructure, and Agentic Commerce, designed to integrate and automate enterprise commerce operations. Its original direct-to-consumer marketplace continues to operate alongside the enterprise business.
The platform now serves more than 1,000 clients across 3,000 outlets in Saudi Arabia, Kuwait and the UAE, spanning industries including hospitality, aviation, healthcare, education and financial services.
Its customer base includes major regional and international organisations such as Emirates, Etihad Airways, Kuwait Airways, Al-Futtaim Group, Kuwait Finance House, stc, Aramco and Alibaba Cloud.
COFE Tech says its technology is designed to address one of the persistent challenges facing enterprises in the region: disconnected procurement, sales, inventory and financial systems. Its AI agents operate across these workflows, monitoring business activity and helping companies anticipate and execute operational decisions.
The pre-IPO round follows COFE’s $15 million Series B in 2023, which was led by Wa’ed Ventures and included participation from eWTP Arabia Capital, Al Imtiaz Investment Group, KISP Ventures and Rasameel Investment Company.
With its latest backing, COFE Tech is positioning itself for a new phase of regional growth — and potentially one of the Gulf technology ecosystem’s notable public-market stories as it works toward a Saudi listing by 2029.
