Wa’ed invests in Fathom Solutions

Wa’ed invests in Fathom Solutions
Short Url
Updated 13 October 2021

Wa’ed invests in Fathom Solutions

Wa’ed invests in Fathom Solutions

The Saudi Aramco Entrepreneurship Center (Wa’ed) has invested in Fathom Solutions with an undisclosed sum of money, it has been announced.

Fathom Solutions was established in 2019 by Ibrahim Al-Baloud, and began in the oil and gas industry but has since expanded to cover all aspects of the industrial market.

Using machine learning model training, it develops and deploys applications such as Fathom Wells, Fathom Pipelines, and Fathom Manufacturing.

“We are excited to have our venture supported by Wa’ed to help scale cutting-edge technology within the industry. We provide positive contributions towards the Saudi Vision 2030 through technological advancement,” said Ibrahim Al-Baloud, CEO and president of Fathom Solutions.

“It is rare to see AI champions of Fathom’s caliber who demonstrate such digitally agile culture as well as advanced international knowledge. Wa’ed is eager to help grow Fathom’s global team and partner with it to offer customizable AI solutions to address precisely what this sensitive sector is in need of.” said Fahad Alidi, managing director at Wa’ed.

Fathom will be able to contribute to the Saudi Vision's transformative aim to enhance technology infrastructure preparedness in industrial cities from 50 percent to 100 percent by 2025, as laid out by Saudi Ministry of Investment.