RIYADH: Wa’ed Ventures, the $500 million venture capital arm of Saudi Aramco, has announced a strategic investment in California-based Resemble AI, a company specializing in artificial intelligence voice generation and real-time multimodal deepfake detection.
The move follows Resemble AI’s $13 million strategic funding round closed in December, which included backing from Google’s AI Future Fund, Sony Innovation Fund, Javelin, and Ubiquity.
The investment comes as concerns over AI-generated fraud intensify globally, with deepfake-related scams causing more than $25 billion in losses in 2024 and projected to reach $40 billion by 2027.
Saudi Arabia has been advancing regulatory measures to counter such risks, including its Anti-Cybercrime Law, which criminalizes the spread of misinformation that threatens public security or national interests.
“At Wa’ed Ventures, our role goes beyond funding – we work closely with founders to help them scale technologies that can compete globally while being rooted in Saudi Arabia’s priorities,” said Anas Al-Gahtani, CEO of Wa’ed Ventures.
