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Softbank, Sanabil Inject $125 Million in SMEs

Unifonic said it will continue its growth after the recent investment to expand internationally (Asharq Al-Awsat)
Unifonic said it will continue its growth after the recent investment to expand internationally (Asharq Al-Awsat)
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Softbank, Sanabil Inject $125 Million in SMEs

Unifonic said it will continue its growth after the recent investment to expand internationally (Asharq Al-Awsat)
Unifonic said it will continue its growth after the recent investment to expand internationally (Asharq Al-Awsat)

Saudi Arabia-based engagement platform Unifonic announced its half a billion Saudi riyal ($125 million) Series B funding round, led by SoftBank Vision Fund 2 and Sanabil Investments.

Less than three years after raising the largest Series A funding round in the Middle East at the time, Unifonic has quadrupled in size.

Unifonic plans to continue this growth trajectory and will be accelerating product development and hiring to expand into new markets around the globe whilst bolstering its leading market share across the Middle East.

“At Unifonic our mission has always been to empower organizations to engage and communicate seamlessly with their customers," highlighted Ahmed Hamdan, founder and CEO at Unifonic.

"Our team is our anchor and together we aim to continue this journey and serve our clients in the best ways possible.”

Managing Partner for SoftBank Investment Advisers Faisal Rehman said, “Our investment team on the ground in Riyadh has followed Unifonic for some time and we have witnessed first-hand the company’s progress in establishing significant market leadership in the Kingdom of Saudi Arabia."

"We look forward to supporting the Unifonic team in scaling the platform across the Middle East and other emerging markets.”

A spokesperson for Sanabil Investments added: “Unifonic is poised to play a significant role in accelerating digital transformation initiatives for public and private enterprise in the Middle East. And so, we wanted to be a part of their journey, resulting in one of our largest investments in high growth, a high-impact technology company in Saudi Arabia."

"We believe we can play a significant part in strengthening their strategic position and supporting their future international growth while aligning with the country’s vision of fostering innovation.”

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Pakistan's Largest Airport Becomes Operational, Part of the Chinese Belt and Road Initiative

Passengers wait for their boarding in the state-run Pakistan International Airlines flight to Paris after the airline resumed direct flights to Europe after the EU lifted a four-year ban, at the Islamabad International Airport, in Islamabad, Pakistan, Friday, Jan. 10, 2025. (AP Photo)
Passengers wait for their boarding in the state-run Pakistan International Airlines flight to Paris after the airline resumed direct flights to Europe after the EU lifted a four-year ban, at the Islamabad International Airport, in Islamabad, Pakistan, Friday, Jan. 10, 2025. (AP Photo)
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Pakistan's Largest Airport Becomes Operational, Part of the Chinese Belt and Road Initiative

Passengers wait for their boarding in the state-run Pakistan International Airlines flight to Paris after the airline resumed direct flights to Europe after the EU lifted a four-year ban, at the Islamabad International Airport, in Islamabad, Pakistan, Friday, Jan. 10, 2025. (AP Photo)
Passengers wait for their boarding in the state-run Pakistan International Airlines flight to Paris after the airline resumed direct flights to Europe after the EU lifted a four-year ban, at the Islamabad International Airport, in Islamabad, Pakistan, Friday, Jan. 10, 2025. (AP Photo)

Pakistan’s largest airport, funded and built in the country's restive southwest by Beijin g, has become operational, officials said Monday.
Gwadar airport is in the province of Balochistan, which has for decades been the scene of an insurgency by separatists demanding autonomy or outright independence.
Pakistani Defense Minister, Khawaja Mohammad Asif, and Chinese officials were among those attending a ceremony at Gwadar airport and watched the arrival of the Pakistan International Airlines inaugural flight from the southern city of Karachi.
The ceremony came months after Chinese Premier Li Qiang and his Pakistani counterpart Shehbaz Sharif virtually inaugurated the airport, which has a capacity of handling 400,000 travelers annually.
Beijing has invested heavily in the coastal city of Gwadar. Besides the airport, which has an estimated cost of $230 million, China has also constructed a deep seaport in Pakistan as part of Chinese President Xi Jinping's Belt and Road Initiative to increase trade by building infrastructure around the world.
Work started on Gawdar airport in 2019. It was supposed to be operational last year but was delayed after a surge in attacks by militants and separatists on Chinese nationals working on projects in the province.
In televised remarks, Asif thanked China for building the airport and said the airport would play a key role in improving the country's economy, attracting international investment and bringing prosperity to Balochistan.
Ethnic Baloch, who accuse the Chinese and others of economic exploitation, oppose the project and other Chinese initiatives in the province.
The Ministry of Planning and Development stated that the airport can handle a combination of ATR 72, Airbus, (A-300), Boeing (B-737), and Boeing (B-747) for domestic and international routes.
Gwadar airport is the country’s largest in terms of area, spread over 4,300 acres of land, according to Pakistan’s civil aviation.