COFE closes pre-IPO round at $178 million valuation

COFE Tech, the Kuwait-founded company that began as a coffee-ordering app, has closed a pre-IPO investment round valuing it at $178 million. That figure is an estimate of the company’s worth in the deal, not the amount raised, which was not disclosed. Wa’ed Ventures, Aramco’s venture arm, led the round alongside Aditum Investment Management, Masarrah Investment Company, and Alyasra Foods. The funding is meant to support COFE’s expansion from consumer coffee orders into digital commerce tools for businesses, while giving it a new investor endorsement ahead of its stated goal of listing on the Saudi Exchange by 2029.