Capillary Technologies Joint Hands with Saudi-based Veda Holding

SaaS-based product firm Capillary Technologies joined hands with Saudi-based Veda Holding to support their digital work.
 
The venture will allow Capillary Technologies enhanced access to the Kingdom’s rapidly growing retail, F&B and Manufacturing sector, and the ability to provide continued on-ground support to customers.

The recent shift in Saudi Arabia’s retail sector can be attributed to the change in buying habits of consumers who demand and have access to an Omni-channel shopping experience. According to Euromonitor, the retail industry in Kingdom is currently worth $106 billion and is forecast to steadily rise to $119 billion by 2023. 

While store-based retailing continues to dominate the sector accounting for $103 billion of the overall market in Saudi Arabia, non-store retailing, which includes online shopping, direct selling, mobile internet, social media and home shopping, is set to grow by 93 per cent from now to 2023.

Aneesh Reddy, CEO and Co-founder Capillary Technologies, said: “The retail sector is on the cusp of transforming into a technology-fueled, consumer-driven industry. Capillary Arabia would be fulfilling the gap in the retail tech in the Kingdom.”

Founded in 2017 by Fahad Alhokair, Veda Holding is an investment holding company providing value and growth capital to startups and mature companies. Veda’s investment portfolio includes a number of world-class luxury fashion and beauty brands.

Fahad Alhokair, Founder, Veda Holding. “We believe this joint venture will enable us to jointly explore and develop the retail ecosystem and bring it on par with global standards.”

With a global clientele of more than 400 marquee brands, consumers are at the heart of Capillary’s solutions. Global brands such as Pizza Hut, Walmart, Herfy’s and Al Hokair Group rely on Capillary’s solutions to enhance their customer experiences and boost brand loyalty. Capillary is actively involved in spearheading CRM and AI driven solutions to transform customer engagement in different sectors, and to create a seamless omnichannel presence for some of the biggest brands in the market.