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This investment underscores Mazadak's commitment to enhancing and innovating new auction facilitation methods, marking a transition into a new era of online auctions. The recent funding round reflects a dedication to innovation and the integration of AI to adapt to changing customer preferences.
His Royal Highness Prince Sultan bin Abdullah bin Abdulaziz Al Saud, Chairman of the Board of Directors and Founder of Alpha Gulf Auctions Company "Mazadak," stated, “The investment round will be among several upcoming rounds aimed at expanding into new markets. We are pleased to announce this milestone coinciding with prominent international exhibitions in the technology sector.”
Mohammed Al-Maghlouth, CEO and Co-Founder of Revival Lab, expressed, “We are pleased with this investment, which aligns with our new initiative, Uptern Ventures. This initiative seeks to pioneer new business models in e-commerce, supply chains, and inventory management.”
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