Riyadh Valley Company – The investment arm of King Saud University – announces its investment in the Japanese company “RUTILEA”.
RUTILEA is a Developer of open-source software and hardware designed to realize full automation of factory automation (FA) and logistics. The company’s software is a widespread open-source with an emphasis on Machine Vision (MV), enabling clients to benefit from its impact that extends to hardware in the future.
Dr. Khalid Al-Saleh, the CEO of Riyadh Valley Company, said: “Investing in Information & Communication Technology sector is one of our goals especially in a company like RUTILEA that integrates both AI, Factory Automation expertise and combines technological know-how for software and hardware. In the manufacturing market, artificial intelligence is valued $1.1bn by 2020 and it is expected to reach $16.7bn by 2026.”
Riyadh Valley Company aims to invest and contributes to build national and international portfolio in the fields of knowledge economy and strategic projects in order to achieve the goals of King Saud University and the Kingdom’s vision of 2030.