Saudi Arabia-based construction technology startup WakeCap has raised $28 million in new funding at the Saudi-US Investment Forum, marking a major step toward expanding its innovative wearable tech solutions. Founded in 2017 by Hassan Albalawi and Ishita Sood, WakeCap develops real-time monitoring systems designed to improve construction site safety and boost productivity.
The startup’s technology enables contractors and project managers to track worker movements and site activities through connected wearables, significantly reducing risks and enhancing operational efficiency. With this latest funding round, WakeCap aims to strengthen its presence within Saudi Arabia and expand into regional and international markets.
The investment will also support the enhancement of WakeCap’s data analytics and digital integration capabilities, areas crucial for transforming the traditionally slow-to-adapt construction industry. This move aligns with the broader push for digital transformation in the sector, especially in Saudi Arabia, which is emerging as the largest venture capital market in the MENA region.
Previously, WakeCap secured undisclosed funding from Wa’ed in April 2022. With this $28 million boost, the company is set to lead a new era in contech by combining IoT and smart wearables to reshape the future of construction site management worldwide.
