Riyadh Valley Company, the investment arm of King Saud University, announces investment in the Belgian company Claudalize during financing round (A) that has been disclosed by the company.
As a company specializing in cloud computing and GPU services, Cloudalize provides better alternatives to virtual computing services based on server infrastructure for use in fields such as engineering, architecture, industry, education, and commerce applications.
Cloudalize has developed cloud computing services that assist to develop and better processing applications and complex businesses such as photographs and videos, digital game development, engineering, architecture and more. Cloudalize differentiates from other cloud computing service providers, as it provides cloud computing services in a shorter amount of time and has data centers in London and New York.
In this regard, Dr. Khaled Al-Saleh, CEO of Riyadh Valley Company, stated: “Investing in the ICT sector is one of the most significant targets of our company, especially in a company like Cloudalize, which works in the field of cloud computing, that amounts to around $445 billion in 2021 and is predicted to nearly double by 2026.”
The investment in Cloudalize has the intention of expanding local and international investments in knowledge-based businesses and develops a diversified portfolio of investments that would support King Saud University and the Saudi Arabian government accomplishing Vision 2030 ambitions for the country’s knowledge economy.