Simplex, an Egyptian startup specializing in computer numerical control (CNC) machine manufacturing, has successfully raised $13 million to construct a state-of-the-art factory in Riyadh, Saudi Arabia. This strategic expansion aligns with Saudi Arabia’s Vision 2030 initiative, aiming to diversify the nation’s economy and localize advanced industries.
The forthcoming facility will occupy a 20,000-square-meter site in Riyadh and is slated to commence operations in the first quarter of 2026. This development follows a Memorandum of Understanding (MoU) between Simplex and Saudi Arabia’s National Industrial Development Center, underscoring the Kingdom’s commitment to enhancing its industrial sector through technological advancement.
Ahmed Shaaban, Chairman of Simplex, expressed gratitude for the support from the Saudi National Industrial Development Center, stating, “We are grateful for the significant support provided by the Saudi National Industrial Development Center, which reflects the Kingdom’s commitment to enhancing the industrial sector and localizing advanced technology.” He emphasized that the new factory represents a significant step toward expanding into regional and global markets and increasing exports of CNC machines.
Mohamed Mansour, Co-Founder and Chief Commercial Officer at Simplex, highlighted the strategic importance of this expansion: “We see Saudi Arabia as a promising market and a strategic hub for exporting our products to the region and the world. The new factory will enable us to meet the growing demand for CNC machines and enhance our presence in international markets.”
Founded in 2013, Simplex has established itself as a leader in CNC machine manufacturing, providing advanced technological solutions to over 50 sectors across 21 countries. The company’s products are renowned for their precision and efficiency, catering to diverse industrial applications.
This initiative aligns with Saudi Arabia’s Vision 2030, which seeks to diversify the economy and localize advanced industries. By establishing a manufacturing presence in Riyadh, Simplex aims to contribute to the Kingdom’s industrial capabilities, create job opportunities, and support non-oil exports.
The establishment of the new factory is expected to bolster Simplex’s production capacity, enabling the company to meet the increasing global demand for CNC machines and solidify its position as a key player in the international manufacturing landscape.
Read more on Tech Gist Africa:
Fincart, based in Egypt, has raised a pre-seed funding round
Nowlun, an Egyptian logistics startup, has raised $1.7 million in seed funding
Sylndr, an Egyptian online auto retailer, has raised $7.45 million in funding
