About Aramco Ventures
Aramco Ventures is a venture capital firm founded in 2012. It is primarily based out of Dhahran, Saudi Arabia. As of Jul 2026, Aramco Ventures is an active investor, having invested in 94 companies, with 7 new investments in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and Environment Tech. Most recently it participated in the $***** Series C round of Together AI Overall, Aramco Ventures portfolio has seen 4 unicorns, 3 IPOs and 15 acquisitions including key companies like Upside, Xpansiv and Together AI. A lot of funds co-invest with Aramco Ventures, with names like Climate Investment sharing a substantial percentage of its portfolio. Aramco Ventures has team of 36 people including 6 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 5 more
Portfolio IPOs
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Aramco Ventures' List of Top Investments
Aramco Ventures has a portfolio of 94 companies, including 4 unicorns. Their most notable investments are in Andium and Parsable.Their portfolio spans across United States, United Kingdom, Norway and 9 more locations. They have invested in High Tech, Enterprise Applications, Environment Tech and 21 other sectors, across stages such as Series A, Series B and 5 more. Here is the list of top investments by Aramco Ventures:
1. Upside
Provider of promotion management and cashback solutions to retailers. It enables businesses to manage credit and debit transaction data and develop personalized promotions to change customer behavior. The consumer platform provides discounts for clubs, flights, hotels, cab booking, and more. The mobile application is available for both iOS and Android devices.
Key facts about Upside
- Founded Year: 2016
- Location: Washington, DC (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $250M
- Employee Count: 416 as on Jun 30, 2026
- Investors: General Catalyst, Formation 8 and 16 Others
- Latest Funding Round: Series D, Apr 26, 2022, $*****
- Highlight: Editors' Pick
2. Xpansiv
Offsets and renewable energy marketplace. Xpansiv is the world’s liquidity hub for ESG commodities such as carbon offsets, Renewable Energy Certificates (RECs), differentiated fuels, among others, providing a centralized platform for buyers and sellers to fulfill their ESG commitments.
Key facts about Xpansiv
- Founded Year: 2016
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $712M
- Employee Count: 245 as on Mar 31, 2026
- Investors: Goldman Sachs, Vitruvian Partners and 24 Others
- Latest Funding Round: Series D, Jan 11, 2023, $*****
- Highlight: Editors' Pick
3. Together AI
Provider of a platform for developing, fine-tuning, and deploying AI models. The platform offers tools for model evaluation, code execution, and finding appropriate models for specific use cases. It provides access to GPU cloud services, including instant and reserved clusters. The platform supports model training, inference, and pre-training.
Key facts about Together AI
- Founded Year: 2022
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $1.33B
- Employee Count: 410 as on Jun 30, 2026
- Investors: VenCap International, 137 Ventures and 31 Others
- Latest Funding Round: Series C, Jul 02, 2026, $*****
- Highlight: Editors' Pick
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4. Form Energy
Clean energy technology platform developing long-duration iron-air battery systems. It develops advanced battery solutions capable of storing electricity for multiple days, helping balance energy supply and demand during periods of high stress or renewable energy intermittency. It is designed to support the transition to a cleaner and more resilient electric grid by enabling greater integration of renewable energy sources such as wind and solar. Its technology centers on cost-effective, scalable battery systems built for long-duration storage applications, addressing critical gaps in traditional short-duration energy storage solutions.
Key facts about Form Energy
- Founded Year: 2017
- Location: Somerville (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $1.22B
- Employee Count: 851 as on Jun 30, 2026
- Investors: T. Rowe Price, GIC and 37 Others
- Latest Funding Round: Series F, Jan 10, 2025, $*****
- Highlight: Editors' Pick
5. 908 Devices
Manufacturer of detection device for chemical analysis using mass spectrometry. It offers battery-operated, handheld, chemical detection tools, and personal analyzers for biologists and chemists. It develops its products using mass spectrometry technology that is used in chemical analysis laboratories for applications, such as safety and security, food science, biotechnology, clinical diagnostics, and controlling industrial processes.
Key facts about 908 Devices
- Founded Year: 2012
- Location: Boston (United States)
- Annual Revenue: $50M - $100M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $68.2M
- Employee Count: 210 as on Jun 30, 2026
- Investors: Tao Capital Partners, Casdin Capital and 10 Others
- Latest Funding Round: Series E, Apr 26, 2019, $*****
- Highlight: Public
Aramco Ventures' Year-on-Year Investment Trends
Aramco Ventures has invested in 94 companies over the last 13 years, with an average of 6 new investments annually in the last 10 years. In 2025, it made 5 investments, while as of Jul 2026, it has made 7 investments in this year. Its most recent first time investment was in Together AI and most recent follow-on round was in EnerVenue.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 6 | 1 | 7 |
2025 | 2 | 3 | 5 |
2024 | 7 | 5 | 12 |
2023 | 11 | 3 | 14 |
2022 | 9 | 4 | 13 |
2021 | 7 | 5 | 12 |
2020 | 2 | 4 | 6 |
2019 | 5 | 1 | 6 |
2018 | 7 | 2 | 9 |
2017 | 4 | 2 | 6 |
Aramco Ventures' Investments by Stage
Aramco Ventures has made 37 investments in Series A stage with an average round size of $20.1M, 20 investments in Series B stage with an average round size of $30.7M and 11 investments in Series C stage with an average round size of $138M.Stage of entry | No. of Investments |
|---|---|
Series A | 37 |
Series B | 20 |
Series C | 11 |
Seed | 6 |
Series D | 3 |
Others | 2 |
Note: We have considered here, only first round of investments
Aramco Ventures' Investments by Sector
Aramco Ventures has a diverse portfolio, with companies operating in the High Tech, Enterprise Applications, Energy Tech, Environment Tech and Sustainability Tech. Notably, it has invested in 84 Enterprise (B2B) companies, 76 Tech companies, 41 Software companies and at least 24 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
High Tech | 36 |
Enterprise Applications | 32 |
Energy Tech | 25 |
Environment Tech | 23 |
Sustainability Tech | 23 |
Others | 64 |
Note: We have considered here, only first round of investments
Aramco Ventures' Investments by Geography
Aramco Ventures has made most investments in United States (46), followed by United Kingdom where it has made 13 investments.Country | No. of Investments |
|---|---|
United States | 46 |
United Kingdom | 13 |
Norway | 6 |
Germany | 3 |
Switzerland | 3 |
Others | 8 |
Note: We have considered here, only first round of investments
Aramco Ventures' recent investments
Aramco Ventures has made 7 investments in 2026 so far. Together AI and Hang Ten Systems are the latest among them.Here are the most recent investments by Aramco Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 02, 2026 | United States | Series C | 5217 | [+11] | |
Jun 24, 2026 | United States | Seed | 9215 | ||
Jun 10, 2026 | United Kingdom | Seed | 4140 | ||
Apr 13, 2026 | United States | Series B | 9417 | - | |
Apr 01, 2026 | United States | Series B | 7193 | [+5] |
Unicorns in Aramco Ventures' Portfolio
Aramco Ventures has 4 unicorns in its portfolio - Together AI, Form Energy, Xpansiv and others. The most recent unicorn in their portfolio is Together AI. It became a unicorn in 2024, 2 years before Aramco Ventures first invested in it.Here is a list of unicorns in Aramco Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
73 | Provider of a platform for developing, fine-tuning, and deploying AI models | 2022 | San Francisco | Series C | qhpbrwv | ||
71 | Clean energy technology platform developing long-duration iron-air battery systems | 2017 | Somerville | Series F | ygrjvcm | ||
76 | Offsets and renewable energy marketplace | 2016 | San Francisco | Series D | fnuqhsq | ||
78 | Provider of promotion management and cashback solutions to retailers | 2016 | Washington, DC | Series D | nagnmcu |
IPOs and Publicly Listed companies in Aramco Ventures' Portfolio
3 of Aramco Ventures' portfolio companies have become public. Energy Vault got listed on the New York Stock Exchange (NYSE), in Apr 2021 and 908 Devices got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $524M.Here are Aramco Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 01, 2021 | Jun 02, 2021 | Post IPO | 8361 | |
Dec 18, 2020 | May 06, 2015 | Series C | 6863 | |
- | - | - | 6070 |
Acquired companies in Aramco Ventures' Portfolio
15 companies from Aramco Ventures' portfolio have been acquired. The most recent acquisition was Dragos in Jun 2026 by Accenture for $*****.Here are Aramco Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 18, 2026 | Dec 08, 2020 | Series C | 2763 | |
Apr 01, 2026 | Apr 09, 2013 | Series A | 9564 | |
Jul 28, 2025 | Mar 08, 2019 | Series A | 3214 | |
Sep 26, 2024 | Aug 20, 2014 | Series A | 2815 | |
Jul 02, 2024 | Apr 25, 2016 | Series B | 4671 |
Team profile of Aramco Ventures
Aramco Ventures has a team of 36 members including 6 Partners and 12 Principals located in Saudi Arabia, United States and 3 more locations. Aramco Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in Aramco Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Houston | - | ||
Partner | San Francisco | - | ||
Partner | Dhahran | - | ||
Partner | Dhahran | - | ||
Partner | Saudi Arabia | - | ||
Partner | Guernsey | - | ||
Principal | Boston | - | ||
Principal | London | - | ||
Principal | United Kingdom | - | ||
Principal | Houston | - | ||
Principal | Saudi Arabia | - |
Co-investors of Aramco Ventures
Over the past 13 years, 571 investors have co-invested in Aramco Ventures's portfolio companies. This includes funds and angels.
- Invested before Aramco Ventures: OSTI, Europa and 254 others have invested in rounds before Aramco Ventures. There are 6 companies where OSTI has invested before Aramco Ventures and 5 companies where Europa has invested before Aramco Ventures.
- Top Co-investors of Aramco Ventures: 143 investors entered a company along with Aramco Ventures. These include investors like Climate Investment (3 companies).
- Invested after Aramco Ventures: A total of 172 investors have invested in Aramco Ventures's portfolio after their investments. Top Investors include OSTI (4 companies), Mitsubishi (3 companies) and Europa (3 companies).
Recent News related to Aramco Ventures
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Together AI Secures $800 Million in Series C Funding to Scale Open-Source AI ModelsPYMNTS.com•Jul 02, 2026•Together AI, Aramco Ventures, Vista Equity Partners, Nvidia and 1 other
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Hang Ten Systems Raises $32 Million in Seed Funding Led by Mayfieldsvdaily.com•Jun 25, 2026•Mayfield, Aramco Ventures, Aramco, Together AI and 2 others
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Via Separations Raises $36M in New FundingFinSMEs•Apr 01, 2026•Climate Investment, Via Separations, Aramco Ventures, Grantham Foundation and 6 others
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Saipem Awarded $500 Million Contract by AramcoOedigital•Feb 24, 2026•Aramco, Saipem, Aramco Ventures
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Aramco Ventures leads $4.5 million strategic round in BarbaraEl Referente•Feb 23, 2026•Criteria Venture Tech, Barbara, Aramco Ventures
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Octopus Energy Strikes Major China Joint Venture During PM VisitBusiness Matters•Jan 30, 2026•Octopus Energy, Polybi New Energy Technology, Aramco Ventures, Eurazeo and 2 others
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AI Chip Startup Neurophos Secures $110M to Enhance AI Compute with PhotonicsSiliconAngle•Jan 22, 2026•Neurophos, Robert Bosch Venture Capital, Carbon Direct Capital, Aramco Ventures and 18 others
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Oxford University spin-out OXCCU raises €23.7 million to scale waste-carbon-to-fuel processEU-Startups•Sep 29, 2025•OXCCU, Clean Energy Ventures, University of Oxford, Eni Next and 14 others
