• Series A Success: DXwand, the Middle East’s leading AI powerhouse, closes its Series A equity round, securing a significant $4 million. Shorooq Partners and Algebra Ventures led the funding round, with continued support from Dubai Future District Fund, showcasing confidence in DXwand’s innovative capabilities.
• Regional Expansion and Innovation: This substantial investment positions DXwand to extend its regional influence and accelerate research and development in cutting-edge technologies like Gen AI and RAG (Retrieval Augmented Generation).
• Enthusiastic Leadership: Ahmad Mahmoud, CEO of DXwand, expresses excitement about the pivotal moment, emphasizing the funding’s role in propelling regional expansion and intensifying commitment to advancing Gen AI and RAG technologies.
DXwand, the AI powerhouse in the Middle East specializing in LLM, knowledge mining, and omnichannel conversational AI, announced the closure of its Series A equity round, securing a substantial $4 million, according to a statement.
Shorooq Partners and Algebra Ventures led the round, with continued support from existing investor Dubai Future District Fund.
This significant investment will empower DXwand to extend its regional footprint and expedite research and development endeavors in LLM, knowledge mining, and RAG (retrieval augmented generation), solidifying its position as a dominant force in generative AI and knowledge mining within the region.
The Series A funding will catalyze DXwand’s regional expansion and intensified research and development in cutting-edge Gen AI and RAG technologies.
The ongoing growth and innovation are expected to result in the swift release of advanced technologies, ultimately enhancing efficiency and productivity for enterprises in both the private and public sectors.
Ahmad Mahmoud, CEO of DXwand, said, “This significant investment marks a pivotal moment for DXwand, enabling us to propel our regional expansion and intensify our commitment to advancing Gen AI and RAG technologies. We are excited about the possibilities this funding opens up for DXwand and the broader landscape of conversational AI.”
Tamer Azer, Partner at Shorooq Partners, emphasized their belief in the region’s capacity to produce market innovations, and the investment in DXwand aligns with this conviction. He highlighted DXwand’s role in enabling companies and governments to grow smarter and more efficiently, leveraging technology to streamline access to information.
Karim Hussein, Managing Partner at Algebra Ventures, praised DXwand’s comprehensive suite of AI tools that solve large-scale real-world problems. He expressed delight in partnering with DXwand to expand its regional presence and drive further product innovation.
DXwand’s AI-driven software automates text and voice conversations between customers and businesses, enhancing citizen-facing government services across various platforms.
The platform, adept in Arabic and English slang, extracts valuable insights from conversations and presents them on dashboards for informed decision-making.
DXwand‘s AI software also facilitates deep technical execution teams to engage with institutional knowledge efficiently.
Sharif El-Badawi, CEO of Dubai Future District Fund, affirmed their confidence in DXwand’s vision and alignment with Dubai’s AI strategy, reflected in their selection into the Dubai Centre for AI. The fund’s continued investment underscores DXwand’s capabilities as a world-class innovator in Gen AI, with impressive growth and client acquisition.
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