# Sirdab raises $10 million Series A co-led by Elm and BECO Capital

> The Riyadh logistics company reported 20 times revenue growth since Y Combinator’s Winter 2023 batch. More than 850 businesses use its warehousing and transportation platform.

- Publication: Go Big News
- By Go Big News Staff (Staff News)
- Category: Startups
- Published: 2026-09-04T16:55:16.199+00:00
- Canonical: https://www.gobignews.com/startups/sirdab-raises-10-million-series-a-co-led-by-elm-and-beco-capital

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Sirdab said on Sept. 3, 2026, that it raised a $10 million Series A co-led by Elm and BECO Capital. The company disclosed the financing in a post on X and a blog post.

The funding follows 20 times revenue growth since Y Combinator’s Winter 2023 batch, according to Sirdab. The company also said it reached profitability in 24 months.

More than 850 businesses use the platform across a network of more than 120 warehouses and more than 60 transportation providers, Sirdab said. Its clients include government entities, publicly listed companies and other large enterprises.

For market context, SAL’s 2025 annual report estimated Saudi warehouse occupancy at about 97%. It projected demand to increase from about 87 million square meters in 2023 to 115 million by 2030, leaving a 9.6-million-square-meter supply gap. About 70% of that gap was projected in Riyadh, Jeddah and Dammam.

Founded in 2022 by Naif Alzahri and Abdulrahman Alnamlah, Sirdab offers warehousing and transportation through one platform. Its network handles dry, ambient, chilled and frozen logistics. The company combines an asset-light partner network with company-operated facilities in key hubs.

Elm is a new investor in Sirdab and a PIF-backed digital solutions company. BECO Capital is an existing investor. The company’s blog also named Y Combinator, COTU Ventures and D Global Ventures as backers of the Series A.

Sirdab’s website valued the round at SAR 37.5 million. S&P Capital IQ, via MarketScreener, reported the same amount and said Sirdab Inc. issued convertible preferred shares.

The company said it will use the proceeds to expand across Saudi Arabia and the GCC, grow its warehouse and carrier network, and develop its software. That work includes AI that matches businesses with available capacity and automates coordination among shippers, warehouses and carriers.

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## X profiles in this story

- @usesirdab: https://www.gobignews.com/profile/usesirdab