Simplex Secures $13 Million to Set Up a CNC Plant in Saudi Arabia

Simplex, a rising startup in CNC machine manufacturing, has received $13 million as part of Saudi efforts to support and localize advanced industries in the Kingdom.

With the funding, Simplex intends to build a sizable factory on a 20,000-square-meter plot of land in Riyadh with an emphasis on producing cutting-edge CNC machinery.

Simplex established its first factory in the Kingdom of Saudi Arabia by signing a Memorandum of Understanding (MoU) with the National Industrial Development Center of Saudi Arabia.

Simplex's commitment to Saudi Vision 2030, which aims to localize advanced industries and diversify the country's economy, includes the new factory in Riyadh. Through this project, the company boosts the Kingdom's industrial capabilities, creates new job opportunities, and supports non-oil exports.

"The opening of the new factory in Riyadh would be a significant milestone in the company's journey towards expansion and increasing its share in global markets," said Mohamed Mansour, co-founder and chief commercial officer of Simplex.

"We view Saudi Arabia as a strategic hub and a promising market for exporting our products to the region and the world. We will be able to meet the increasing demand for CNC machines and expand our global presence thanks to the new factory," Mansour said.

"Our goal is to establish ourselves as a major force in the global CNC machine manufacturing market. A big step toward realizing that goal is this factory. We hope that this factory will help strengthen the Kingdom's standing as a regional industrial hub and boost its exports of cutting-edge technological goods. We are working on creating innovative products that satisfy the demands of clients in a variety of industrial sectors," he continued.