NEOM, the dubbed smart region being developed in Northwest Saudi Arabia, announced on October 25th, 2023, that it had invested in REGENT, the US-based electric seaglider manufacturer whose 12-passenger water vehicle named Viceroy is set to become the region’s water transport. NEOM and REGENT closed a multi-year partnership deal to establish seaglider passenger operations in the region, taking visitors to and from the cities and places in NEOM. The collaboration was made possible through NEOM’s own investment fund program.

Metaverse and gaming venture capital firm Animoca Brands plans to enter into a partnership with Saudi Arabia's NEOM Investment Fund focused on Web3 initiatives. The investment fund of NEOM – the project for a new urban area in northwest Saudi Arabia envisioned as a hub for technology, trade, entertainment and tourism – is proposing to invest $50 million in Animoca, according to an announcement on Monday.

China's smart vehicle makers and autonomous driving companies have become popular with investors in the Middle East, especially Saudi Arabia, as the oil-rich region is looking for new ways to drive its economy.  So far this year, at least seven startups in the sector including Nio have inked deals with investors from countries in the region, with combined investment nearing 100 billion yuan ($13.72 billion).

Saudi Arabia’s $500bn flagship project NEOM on Tuesday set up a $10bn joint venture (JV) with Denmark’s DSV, the world’s third-largest freight forwarder,

Autonomous driving technology company Pony.ai has secured a $100m (SR375.15m) investment from NEOM Investment Fund (NIF), the investment arm of the city of NEOM in Saudi Arabia. Under the alliance, NEOM and Pony.ai will set up a joint venture (JV) to develop, manufacture and offer autonomous cars, services for autonomous driving, and infrastructure for smart vehicles.

NEOM Green Hydrogen Co. witnessed a leadership change with Wesam Al-Ghamdi succeeding David Edmondson as CEO. Under Edmondson’s guidance, NGHC reached full financial closure on its green hydrogen plant in May 2023, which is is currently being built at OXAGON.

DSV and Saudi Arabia’s ‘NEOM’ special economic zone have announced a $10bn logistics joint venture (JV) to support the development of NEOM projects.  The JV will focus on providing ground, sea and air logistics services for NEOM in the coming years. Under the agreement, the joint venture will provide end-to-end supply chain management, development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM.