Elm, a pioneering company in digital solutions, has invested a stake in Madar entrepreneurial company, an affiliate of Obeikan Investment Group, which provides an innovative digital platform for managing logistics business, as part of its plan to support the entrepreneurial environment in the Kingdom.
The CEO OF Elm, Dr. Abdulrahman bin Saad Aljadhai, said this move shows Elm's continuous pursuit of growth through alliances and acquisitions of entrepreneurial and creative companies, wholly or partially, and forming strategic relationships with them. The move also aims to achieve financial returns in line with Elm's strategy, which seeks to build a local entrepreneurial ecosystem.
Dr. Aljadhai added that Elm's contribution would be through sharing capital and providing support for technical and practical expertise to ensure business sustainability in these pioneering projects. He pointed out that these investments contribute to creating an encouraging investment environment to support entrepreneurs in various technical fields and secure exit opportunities for founders in entrepreneurial companies.
Eng. Abdullah Alobeikan, CEO of Obeikan Investment Group, said: “In line with our group policy as a pioneering institution in digital transformation, which promotes industry and advances digital transformation in the Kingdom, we have developed the innovative digital platform, Madar. It will be an integrated solution for managing supply chains, linking local companies and freight forwarders, giving comprehensive control of the overall logistics services. Madar offers automated vehicle tracking services, resource planning, and advanced systems features. It allows tracking of shipments and electronic proof of delivery efficiently and safely, thus providing complete control of performance, assuring quality standards, controlling costs, and developing operations.
Madar's services include managing shipments and logistics processes for customers by tracking shipments through notifications in all stages of the transport process. Besides, the platform allows customers to select several shipping service providers, which results in a smooth shipping experience and the lowest possible cost. Madar serves significant companies in the Kingdom, including Obeikan Investment Group that owns Madar, as well as Saudi Aramco and United Sugar Company.
Obeikan Investment Group, the largest company, operating in the manufacturing field, is a pioneering company in digital transformation in the Kingdom and the Middle East. The company develops software and digital applications in all industrial and commercial areas. It has developed and implemented many integrated digital solutions to manage manufacturing processes, supply chains, account management, and human resources. It utilizes the latest smart solutions available globally and best-in-class robotic systems.
It is noteworthy that Elm aims to contribute to accelerating economic growth through digitization processes. It is also working to present a road map and a clear plan that adopts necessary investment and cooperation to diversify the economy. Also, this will create future opportunities to promote the development of small and medium enterprises and open new economic possibilities for a sustainable economy in the long term.