Egyptian Startup Simplex Secures $13 Million Investment to Establish CNC Machine Factory in Saudi Arabia
Egyptian startup Simplex has secured a $13 million investment to establish a computer numerical control (CNC) machine factory in Saudi Arabia.
CNC is a manufacturing method that automates the control, movement, and precision of machine tools using pre-programmed computer software.
Simplex has demonstrated a strong track record in this technology sector, providing innovative solutions that address the needs of customers across various industries. The company’s customer network spans 21 countries and over 50 sectors, successfully establishing brand recognition and gaining strength in the global market.
To maintain its growth momentum, Simplex plans to open a 20,000-square-meter factory in Riyadh, Saudi Arabia.
Simplex Chairman Ahmed Shaaban shared his thoughts on the upcoming factory, stating:
“We are grateful for the significant support provided by the Saudi National Industrial Development Centre, which reflects the Kingdom’s commitment to enhancing the industrial sector and localizing advanced technology. This factory represents a major step towards realizing our vision of expanding in regional and global markets and increasing our exports of CNC machines.”
“Although we have not yet finalized the target production capacity, we plan to start operating the factory in the first quarter of 2026. This project reflects our commitment to contributing to the development of the Saudi industrial sector, in line with the Kingdom’s Vision 2030.”