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Founded Year

2012

Stage

Acquired | Acquired

Total Raised

$1.5M

About sPARK

sPARK's technology and unique turn-by-turn cruise-for-parking navigation algorithm allows real-time parking discovery and last-mile navigation. On March 10th, 2020, sPARK was acquired by Arrive, terms of the agreement were not disclosed.

Headquarters Location

Science 4

Yokneam,

Israel

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Expert Collections containing sPARK

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

sPARK is included in 2 Expert Collections, including Auto Tech.

A

Auto Tech

2,570 items

Companies working on automotive technology, which includes vehicle connectivity, autonomous driving technology, and electric vehicle technology. This includes EV manufacturers, autonomous driving developers, and companies supporting the rise of the software-defined vehicles.

S

Smart Cities

2,131 items

Latest sPARK News

SPARK and Bin Saedan launch two key residential and commercial projects valued at $65mln

Dec 27, 2023

In addition, SPARK signed a lease agreement with Affordable House Company to develop a multipurpose commercial office complex Press Release PHOTO SPARK and Affordable House Company (part of Bin Saedan Group) launch two key projects in the residential and commercial areas valued at $65 million and spread over 50,000 square meters The groundbreaking ceremony took place announcing the construction of the state-of-the-art 459 residential apartment complex Saudi Arabia: King Salman Energy Park (SPARK), the leading energy industrial ecosystem, announced the significant expansion of its commercial and residential offerings in partnership with Bin Saedan Group’s Affordable Housing Company. This marks the third investment between SPARK and Bin Saedan Group, a leading real estate developer in the Kingdom of Saudi Arabia with over 80 years of experience. SPARK and Affordable House Company broke ground on the residential apartment complex on 25 December 2023. The residential complex will feature 459 fully furnished apartments with a combination of one-, two- and three-bedroom layouts. The apartments are intended for long stays incorporating the latest smart technologies – supporting SPARK’s offering to tenants and clients establishing their business in Saudi Arabia. The total land size for the project stands at close to 30,000 square meters and represents an investment of $50 million (SAR 180 million). The development will be constructed in phases – with the first planned for completion by Q4 2025. SPARK additionally signed a lease agreement with the Affordable House Company to develop multipurpose commercial offices which will include over 15,000 square meters of leasable area. The commercial offices will feature best-in-class facilities including multifunctional offices, equipped receptions, gyms, and light restaurants – powered partially by green energy and using the latest smart technologies. The commercial offices will be built on 25,000 square meters of land and represent an investment of $15 million (SAR 60 million). The development will be constructed in two phases with the first planned for completion by Q4 2026. Eng. Saif Al Qahtani, CEO of SPARK, stated, "We are excited to significantly expand our commercial and residential offering through our partnership with Bin Saedan Group and Affordable Housing Company. The groundbreaking and lease agreement will enable the provision of a truly world-class offering to tenants and investors in line with our commitment to develop a dynamic ecosystem seamlessly integrating industrial zones, residential, commercial and community spaces. This milestone strengthens our offering for those looking to set up their companies in the Kingdom and enhances the quality of life for all residents in the city.” Mohammed Abdullah Bin Saedan, Board Member of Bin Saedan said: “This is the Group’s third project in King Salman Energy Park, following the development of the workers' village and the residential buildings complex. It serves as a testament to our confidence in investing in SPARK, effectively contributing to the projects outlined in the Saudi Vision 2030.” Eng. Nazih Ahmad, CEO of Affordable Housing Company, added, “This project will comprise two 5-floor buildings and aims to serve as a model for the utilization of clean, renewable energy and AI technologies. The project will allocate spaces for furnished offices, catering to companies in search of ready-made co-services for pre-furnished offices and short-term lease.” The investment with Bin Saedan Group marks the third investment between SPARK and the Group to develop real estate projects in the city. In 2022, SPARK signed multiple contracts with the Group worth $150 million to build a state-of-the-art residential complex and workers village. The construction of both developments is expected to be completed in 2025. About King Salman Energy Park (SPARK) SPARK is the leading industrial ecosystem with sustainability at its core, connecting the world to opportunities in the Saudi energy sector and beyond. As a national Saudi megaproject proudly driving socio-economic impact locally and globally, SPARK is simultaneously catalyzing the Kingdom’s role in the global energy transition while offering a world-class ecosystem in the heart of the energy market for investors and tenants. www.spark.sa © Press Release 2023 Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release. The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk. To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

sPARK Frequently Asked Questions (FAQ)

  • When was sPARK founded?

    sPARK was founded in 2012.

  • Where is sPARK's headquarters?

    sPARK's headquarters is located at Science 4, Yokneam.

  • What is sPARK's latest funding round?

    sPARK's latest funding round is Acquired.

  • How much did sPARK raise?

    sPARK raised a total of $1.5M.

  • Who are the investors of sPARK?

    Investors of sPARK include Arrive, Geut Holdings and Terra Venture Partners.

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