Tunisian AI startup InstaDeep raises $100M in Series B

Tunisian AI startup InstaDeep raises $100M in Series B

InstaDeep, startup specialized in advanced AI decision-making systems for solving real-world problems, announced that it has raised $100M and closed a Series B round led by Alpha Intelligence Capital together with CDIB. 

Investors in the round include BioNTech, Chimera Abu Dhabi, Deutsche Bahn’s DB Digital Ventures, Google, G42 and Synergie. 

InstaDeep will use the funding to advance its high-performance computing infrastructure optimized for decision-making AI, continue to hire talent and accelerate the launch of disruptive AI products across multiple industries – including biotech, logistics, transportation and electronics manufacturing. The firm will expand its global presence into the United States.

Tunisian-founded InstaDeep helps companies improve crucial parts of their operations by harnessing AI technologies such as Reinforcement Learning, a type of machine learning that helps design effective optimization strategies for an array of challenges, from therapeutics development to railway operations and more. 

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“This funding round is a tremendous vote of confidence from our partners BioNTech, Google and Deutsche Bahn after working closely with us on innovative, high-impact AI initiatives. We are very excited to get the support of Alpha Intelligence Capital, Chimera, Synergie and G42 as we see wide-ranging opportunities to deploy our AI products to tackle complex real-world problems,” Karim Beguir, Co-Founder and CEO of InstaDeep stated.

InstaDeep is now based in London, it was founded in 2014 in Tunisia in North Africa, with two laptops, $2000 and, according to Beguir, “a lot of enthusiasm”. From the start, he and Co-Founder Zohra Slim have made boosting local AI communities central to InstaDeep’s mission, through events, training and open-sourcing software. InstaDeep’s team entails engineers and researchers in South Africa, Nigeria, Tunisia and the UAE alongside its teams in France and the UK.

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