Teradix Secures $140,000 Grant to Drive Expansion into Saudi Market
Introduction
Egyptian e-procurement solutions provider, Teradix, has successfully secured a grant of $140,000 from the prestigious TAQADAM Accelerator program, hosted by King Abdullah University of Science and Technology (KAUST). This funding aims to propel Teradix’s strategic expansion into the rapidly growing Saudi Arabian market.
Streamlining Procurement with Innovative Solutions
Founded in 2019 by Khaled Aboshady, Teradix specializes in delivering a comprehensive range of e-procurement solutions. The company’s platform is designed to optimize savings, increase efficiency, and simplify procurement processes for businesses of all sizes. With a mission to modernize procurement systems, Teradix is well-positioned to transform how businesses manage their supply chains.
Support from TAQADAM to Fuel Saudi Market Entry
The $140,000 grant from TAQADAM is a significant milestone for Teradix as it sets its sights on the Saudi Arabian market. The funding will be directed toward scaling operations, enhancing product offerings, and establishing a robust presence in the Kingdom. By leveraging this support, Teradix aims to become a key player in Saudi Arabia’s digital procurement sector.
Founder’s Vision for Expansion
Khaled Aboshady, the founder of Teradix, expressed his excitement about this achievement:
“Winning this grant from the TAQADAM Accelerator program is a testament to our team’s hard work and dedication. It not only validates our innovative approach to e-procurement but also equips us with the necessary resources to expand our footprint in the Saudi market. We are committed to delivering unparalleled value to our clients in the Kingdom.”
Future Outlook
As Teradix gears up for its Saudi expansion, the company remains focused on providing advanced procurement solutions tailored to meet the unique needs of businesses in the region. With this new funding, Teradix is poised to accelerate its growth, helping organizations optimize their procurement processes, drive cost savings, and improve operational efficiency.
By expanding into Saudi Arabia, Teradix is not only entering a new market but also contributing to the digital transformation of procurement across the Middle East.
