Saudi Arabia's Aumet secures $12 million in Series A funding to enhance its AI-driven procurement platform.
Aumet, a Saudi Arabia-based company, has successfully raised $12 million in a Series A funding round led by Emkan Capital, with participation from Qatar Development Bank, SABAH Fund, and AAIC, among others. This funding aims to bolster Aumet's AI capabilities, facilitate enterprise deployments, and drive regional expansion across the Gulf Cooperation Council (GCC) and international markets.
Founded in 2016, Aumet specializes in creating an AI-first procurement operating system tailored for healthcare providers and pharmacies. Their platform connects various stakeholders—pharmacies, suppliers, hospitals, and healthcare systems—by focusing on procurement, inventory management, and supply chain intelligence. The company has reported processing over $1 billion in gross merchandise value and managing more than 5 million transactions annually, linking over 12,000 pharmacies with 1,000 pharmaceutical suppliers across Jordan, Egypt, and Saudi Arabia.
Aumet's platform has already made significant inroads in public healthcare, having been implemented in numerous hospitals and medical centers, including collaborations with Jordan's Ministry of Health. Currently, Aumet is also partnering with Presight, a G42 company, to enhance its AI procurement system within the UAE's public healthcare networks.
According to co-founder and CEO Yahya Aqel, the latest funding round reflects Aumet's unique ability to integrate marketplace data, ERP workflows, and AI into a cohesive ecosystem. He emphasized that Saudi Arabia's Vision 2030 is a crucial driver for healthcare transformation, presenting a significant opportunity for AI-driven procurement solutions. Aumet views Saudi Arabia not merely as a market but as a strategic launchpad for broader regional and global growth.