Paravela Information

Paravela is a startup being launched in Riyadh, Saudi Arabia to take advantage of the tremendous opportunities in the Kingdom and contribute to Vision 2030. It is an enterprise data management company that enables the secure sharing of critical information about the state of any asset across multiple parties. While this is broadly applicable, Paravela is applying its technology to address challenges in the contract management, asset management, and open data domains. For example, ensuring that insurance companies can access real-time information on the assets they are insuring such as construction equipment. In this scenario, everyone benefits since this eliminates fraud as well as payout disputes if there is an issue.