Movi lands investment from Sadita Holding

Movi has added a new investor to their pre-A round with an additional funding of $200K from Sadita Holding Company from Kuwait. This investment was enabled by Node by Slush, the pandemic forced virtual version of the annual Slush startup convention for 2020.

Movi, originally established in 2014, aims to become the global middleware for all things mobile video and the additional funding now raised will be used to build up its capabilities to sell & deliver the solution to selected global markets as well as speeding up the development of additional features and functionalities to Movi solution.

The whole team here at Movi is thrilled to welcome Sadita as one of our strategic investors and we are very much looking forward to working together with Sadita expanding our presence and customer base especially in the mobile video heavy Middle Eastern markets

says Lars-Erik Ravn, CEO of Movi.

Sadita Holding Company, established in 2006 to consolidate Mr Fozan Al Fozan’s diverse business holdings under one umbrella, is a holding company registered in Kuwait. Sadita’s underlying operating subsidiaries date back to 1982. Over the years Sadita has grown its diversified holdings to include 23 companies in multiple industries including the wholesale and distribution of food & beverage, plastic disposables, IT accessories, computer peripherals, medical equipment as well as logistics and other services. Recently, Sadita has expanded its investment strategy to also include tech start-ups, of which Movi is one of the first to be executed.

SADITA is pleased to announce its partnership with Movi. Upon meeting the team, it was clear to us that aside from having an innovative technology, the people behind it have created a dynamic and energetic environment. An environment which we are confident will make Movi a leader in the booming mobile video industry

says Tareq AlFozan from Sadita Holdings.

Inquiries:

Movi: Mr Lars-Erik Ravn, mob: +47 41170403, email: lars-erik@movi.ai

Sadita: Mr. Tareq Alfozan, +965 99115559, email: tareq@sadita.net

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