Egyptian startup Simplex has raised $13 million to build a CNC factory in Saudi Arabia
The Egyptian startup Simplex, which makes CNC machines, has received $13 million in funding from Saudi Arabia’s National Industrial Development Center. This is part of Saudi Arabia’s plan to support and grow advanced industries in the country.
Expansion into Saudi Arabia
The new funds will be used to build a factory on a 20,000-square-meter site in Riyadh to make advanced CNC machines, the company said.
“Although we haven’t decided on the production target yet, we plan to start the factory in the first quarter of 2026,” said Ahmed Shaaban, chairman of Simplex.
Egyptian manufacturing company
Simplex was founded in 2013 in Egypt by Ahmed Shaaban, Mohamed Mansour, and Amr Othman. The company makes CNC machines for more than 50 industries in 21 countries.
Their products include routers, lasers, plasma cutters, fiber lasers, folding machines, scissors, milling machines, gasket injection systems, and plastering machines.
What is Computer Numerical Control (CNC)?
CNC (Computer Numerical Control) is a process where computers control machines like lathes, mills, and drills. CNC machines follow pre-programmed software instructions to perform tasks accurately and quickly, without the need for manual work.
For example, a CNC machine can cut materials like metal or plastic to exact specifications based on computer commands.
Market size
As the global industrial automation market grows, the CNC market is also expected to grow. According to Statista, the market was worth $14.6 billion in 2018 and is expected to reach nearly $23 billion by 2026.
Published: 31th January 2025
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