Sirdab raises $10M Series A co-led by Elm and BECO to expand across the GCC

RIYADH — Sirdab has raised a $10M (SAR 37.5M) Series A co-led by Elm, the PIF-backed listed digital company, and BECO Capital, with Y Combinator, COTU Ventures and D Global Ventures participating. Wamda reports the warehousing-and-transport orchestration platform, founded in 2022 by Naif Alzahri and Abdulrahman Alnamlah, serves more than 850 business customers and is already profitable.

A profitable Series A is rare anywhere. A profitable Saudi logistics-infrastructure company taking a strategic cheque from a listed PIF champion, alongside regional venture money and a YC halo, is the template for what a 2026 Saudi round looks like.

What it prices in: Elm is buying a position in the software layer of the Kingdom’s supply chain, and BECO is buying a company that does not need the next round to survive. Logistics was MENA’s second-largest sector by funding in the first half of 2026; this is the kind of company that made it so.

Will it work? Expansion across the GCC is the stated use of funds. The test is whether a Saudi-built orchestration layer wins in the UAE against incumbents with their own warehouses. Profitability at home gives Sirdab the luxury of finding out slowly.

Source: Wamda