IDRAJ Raises SAR 2.25M Pre-Seed Led by ASAP Legal Tech for AI IPO Readiness Platform

IDRAJ Closes SAR 2.25M Pre-Seed

IDRAJ (إدراج, IDRAJ.AI) has raised a SAR 2.25 million pre-seed round led by ASAP Legal Tech, according to funding data dated September 3, 2026. The round was announced at LEAP 2026. The funding amount is reported as SAR 2,300,000 in the funding payload.

What IDRAJ Does

IDRAJ is a Saudi legal-technology startup operating at idraj.ai. Its platform uses AI to support the process of preparing companies for public listing. Specifically, the company's platform:

• Assesses company readiness to go public
• Maps regulatory requirements against CMA and Tadawul rules
• Organises offering documentation
• Supports prospectus drafting

The platform serves issuers targeting the Saudi Exchange Main Market and the Nomu parallel market, as well as their advisers.

Company Background

IDRAJ was founded in 2026 by Kholoud Al Saleh, a former White & Case legal advisor. The company is based in Saudi Arabia and operates at idraj.ai.

Use of Funds

The pre-seed round is intended to fund:

• Product development
• AI capabilities
• Hiring
• Ecosystem partnerships

Why This Round Matters

IDRAJ is entering the Saudi capital markets technology space at a time when the Kingdom has been actively expanding its public listings pipeline, including the Nomu parallel market for smaller issuers. The company's focus on readiness assessment and regulatory mapping addresses a document- and process-intensive phase of the IPO journey, where issuers and their advisers must align with CMA and Tadawul requirements.

The involvement of ASAP Legal Tech as lead investor is notable given the legal-tech orientation of the round. The announcement at LEAP 2026 places the company within Saudi Arabia's broader technology and innovation ecosystem.

Acquisition Angle

IDRAJ sits at the intersection of legal technology, regulatory technology and capital markets infrastructure. Potential strategic interest could come from:

• Legal and professional services firms seeking AI-enabled capital markets tooling
• Financial exchanges or market infrastructure providers looking to digitize issuer onboarding and readiness workflows
• Regulatory technology vendors expanding into capital markets compliance
• Regional fintech and enterprise software platforms building out Saudi-focused offerings

The company's founder background — a former White & Case legal advisor — provides domain credibility in the legal and regulatory aspects of listings. Its narrow focus on CMA and Tadawul rules gives it a specific, defensible niche within the Saudi market.

What We Know

• Round type: Pre-Seed
• Amount: SAR 2,250,000 (reported as SAR 2,300,000 in funding data)
• Currency: SAR
• Date: September 3, 2026
• Lead investor: ASAP Legal Tech
• Investors: ASAP Legal Tech
• Announced at: LEAP 2026

What We Don't Know

The available data does not include valuation, the breakdown of how the SAR 2.25 million will be allocated across the stated use-of-funds categories, or any customer or issuer names using the platform. It also does not specify the number of hires planned or the specific ecosystem partnerships targeted.

Bottom Line

IDRAJ has raised a SAR 2.25 million pre-seed round led by ASAP Legal Tech to build out its AI platform for IPO readiness, regulatory mapping and prospectus support for Saudi Exchange and Nomu listings. The company combines legal domain expertise with a focused regulatory technology product aimed at issuers and their advisers in the Saudi market.