On October 30, 2024, in Riyadh, it was announced that tali ventures, the corporate venture capital arm of stc Group, has successfully completed a $10 million Series B investment round in NorthLadder, a leading device trade-in platform operating in over ten countries. This strategic investment was reported through a press release issued by tali ventures today.
The funding round was spearheaded by tali ventures, with additional contributions from Dutch Founders Fund and Crescent Ventures. This collaboration not only highlights the confidence investors have in NorthLadder’s business model but also reinforces the commitment of stc Group to fostering a vibrant entrepreneurial ecosystem across its operational markets.
As a prominent digital enabler, stc Group aims to support initiatives that promote sustainable growth and innovation. The release emphasized that this investment aligns with the group’s broader mission to drive digital transformation in the region. Tali ventures focuses on making strategic investments in high-growth companies across various stages, from early to late, signifying a proactive approach to nurturing the entrepreneurial landscape.
Majed I. Aljarboua, the Corporate Fund and Entrepreneurship General Manager at stc, commented on the investment, stating, “This investment aligns with tali ventures and stc Group’s shared goal of propelling technological advancement and nurturing start-ups to shape the future of technology and society.” He further highlighted that NorthLadder’s commitment to circularity is an essential part of their vision for a sustainable world, where community and environmental protection are integral to their operations, rather than merely an afterthought.
This investment marks a significant milestone for both tali ventures and NorthLadder, as they work together to create impactful solutions that contribute to a more sustainable and innovative future.
