Saudi Arabia-based startup IDRAJ has raised SAR 2.25 million ($598,000) in a pre-Seed funding round led by ASAP Legal Tech, securing early capital to build an AI-powered platform designed to simplify the complex journey companies undertake before going public.
Founded in 2026 by Kholoud Al Saleh, IDRAJ is targeting companies preparing to list on the Saudi Exchange’s Main Market, as well as the Saudi Parallel Market (Nomu). The startup is also building solutions for consultants and other professional entities involved in the listing and offering ecosystem.
Turning a Complex IPO Journey Into a Digital Process
For companies preparing for an IPO, the journey can involve extensive documentation, regulatory requirements, data preparation, assessments and coordination among multiple advisors and stakeholders. IDRAJ is seeking to bring many of these processes into a technology-driven environment.
Its platform uses artificial intelligence to assess a company’s readiness for listing, analyse requirements, organise documents and data, and help companies navigate the various stages of preparation.
The ambition is not simply to digitise paperwork, but to make the overall pre-IPO process more structured and transparent.
The Gap Behind IDRAJ
According to Al Saleh, the idea for IDRAJ emerged from a gap between companies’ ambitions to go public and the lengthy, complicated process required to prepare for a listing.
The company believes AI can play a larger role in closing that gap by helping businesses understand what is required, identify areas that need attention and manage the information involved in the process.
For companies that may be approaching an IPO for the first time, having a technology layer that brings together requirements, documents and readiness assessments could potentially reduce some of the friction involved in preparing for the market.
Building for Saudi Arabia’s Capital Markets
IDRAJ’s focus comes as Saudi Arabia continues to deepen its capital markets and encourage more companies to access public markets.
The startup is specifically targeting businesses seeking to list on Tadawul and Nomu, alongside the advisors and professional firms that support them. This gives IDRAJ an opportunity to build technology not only for companies themselves, but also for the broader ecosystem involved in listings and offerings.
Its positioning also reflects a wider shift in Saudi Arabia toward using technology and AI to modernise traditionally manual professional services.
Fresh Capital to Build the Platform
IDRAJ will use the SAR 2.25 million investment to develop its technology products and infrastructure, strengthen its AI capabilities and attract talent.
The company also plans to expand the range of solutions it provides to companies and consultants. Its roadmap includes broader applications of AI across readiness assessment, document organisation and integration with professional entities involved in the listing process.
At this stage, the funding represents an early bet on the company’s ability to turn a complex professional workflow into a scalable technology product.
ASAP Legal Tech Backs Saudi Legal Technology
The round was led by ASAP LegalTech, which is also seeking to develop a broader Saudi legal technology ecosystem through internal products and investments in specialised technology companies.
For IDRAJ, the backing provides both capital and a connection to an organisation operating within the legal technology landscape. That relationship could become particularly relevant as the startup develops tools around regulatory requirements, documentation and professional workflows.
The investment also highlights growing interest in specialised AI applications that address specific business processes rather than attempting to build general-purpose AI products.
From Pre-IPO Preparation to AI Infrastructure
IDRAJ is ultimately positioning itself around a relatively narrow but potentially valuable problem: helping companies become ready for the public markets.
Its next challenge will be turning that vision into a platform that companies and advisors use throughout the listing journey. If it succeeds, IDRAJ could become part of the technology infrastructure supporting a new generation of Saudi companies moving from private businesses to publicly listed enterprises.
