“Elm” invests in “Madar”, affiliate of Obeikan Investment Group, and affirms growth plans to support entrepreneurial projects
(Riyadh – February 2021)
Elm, a pioneering company in digital solutions, has invested a stake in “Madar” entrepreneurial company, an affiliate of Obeikan Investment Group, which provides an innovative digital platform for managing logistics business, as part of its plan to support the entrepreneurial environment in the Kingdom.
Elm CEO, Dr. Abdul-Rahman bin Saad Al-Jadhi, said this move shows the company’s continuous pursuit of growth through alliances and acquisitions of entrepreneurial and creative companies, wholly or partially, and forming strategic relationships with them. The move also aims to achieve financial returns in line with the strategy of “Elm”, which seeks to contribute to building a local entrepreneurial ecosystem.
Dr. Al-Jadhi added that the company’s contribution will be through sharing capital and providing support for technical and practical expertise to ensure business sustainability in these pioneering projects. He pointed out that these investments, which the company is working on, contribute to creating a promising investment environment to support entrepreneurs in various technical fields and secure exit opportunities for founders in entrepreneurial companies.
Eng. Abdullah Al-Obeikan, CEO of Obeikan Investment Group, said: “In line with our group policy as a pioneering institution in digital transformation, which promotes industry and advances digital transformation in the Kingdom, we have developed the innovative digital platform “Madar”. It will be an integrated solution for managing supply chains, linking local companies and freight forwarders, which enables a comprehensive control in all stages of overall logistics services operations. This is achieved through the integration between automated vehicle tracking services, resource planning, and advanced systems features. The app allows tracking of shipments and electronic proof of delivery efficiently and safely, thus providing a complete control of performance, allowing monitoring and changing of quality standards, controlling costs, and developing companies’ operations.
“Madar” company provides many distinctive significant services. These include managing shipments and logistics processes for customers, by controlling scheduling and tracking of shipments through notifications in all stages of the transport process. Besides, the platform allows for selection among several shipping service providers, which enables managing the shipping process smoothly and accurately at the lowest possible cost. The company serves many major companies in the Kingdom, including Obeikan Investment Group that owns Madar as well as Saudi Aramco, and United Sugar Company.
Obeikan Investment Group, the largest Company operating in the manufacturing field, is a pioneering company in the field of digital transformation in the Kingdom and the Middle East. The Company develops software and digital applications in all industrial and commercial fields. It has developed and implemented many integrated digital solutions to manage manufacturing processes, supply chains, account management, and human resources. It utilizes the latest smart solutions available globally and best-in-class robotic systems.
It is noteworthy that “Elm” aims to contribute to accelerating economic growth through digitization processes. It is also working to present a road map and a clear plan that adopts necessary investment and cooperation as an approach to diversify the economy. This will create future opportunities to promote the development of small and medium enterprises and open new economic possibilities for a sustainable economy in the long term.