Andreessen Horowitz Backs Saudi Startup in First Gulf Investment

Andreessen Horowitz is making its first investment in the Gulf with a fundraise for a Saudi startup, as investors continue to sign deals despite the US-Israel war on Iran.

The venture capital firm is leading a $25 million Series A for the Riyadh-based enterprise software firm Stitch, and the proceeds will be used for product development and expansion across the region, according to an emailed statement. Existing investors Arbor Ventures, COTU Ventures, Raed Ventures and SVC also participated in the round.