Network-as-a-service (NaaS) start-up, Nile, which debuted in 2022, announced its successful completion of a new funding round, raising a significant USD 175 million.
The funding round was led by March Capital and Sanabil Investments, with STC also joining as a prominent participant. Notably, other investors contributing to the operation include 8VC, Geodesic Capital, U First Capital, and Valor Equity Partners. With this recent influx of funds, Nile’s total funding now stands at a substantial USD 300 million.
Co-founded by former Cisco top executives Pankaj Patel and John Chambers, Nile is dedicated to aiding enterprises in streamlining network operations, effectively reducing both time and costs. In a previous round of funding, Nile successfully secured USD 125 million in venture capital funding.
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Nile has been making strides in the market, forging valuable partnerships to expand its reach and offerings. In collaboration with Solutions by STC, Nile is set to provide campus NaaS to customers across Saudi Arabia, Kuwait, Bahrain, Oman, and Egypt. This strategic partnership is poised to elevate Nile’s presence in the region and enhance its capabilities in delivering cutting-edge network solutions to enterprises.
With a seasoned team of industry experts and the backing of notable investors, Nile is well-positioned to revolutionize the landscape of network services, empowering enterprises to optimize their network operations efficiently and effectively. The latest funding milestone signifies a strong vote of confidence in Nile’s vision and potential, propelling the company towards further growth and innovation in the NaaS sector.
