AppliedAI, a specialist in artificial intelligence solutions, has successfully closed an oversubscribed Series A funding round, raising $55 million. The strong investor demand underscores significant confidence in the company’s business model and future potential.
The funding round saw participation from prominent investors, including Middle East Venture Partners (MEVP), G42, Bessemer Venture Partners, and strategic partner e&. This capital infusion aims to accelerate AppliedAI’s international expansion, enhance its technological capabilities, and broaden its presence in promising regional markets.
AppliedAI is headquartered in Abu Dhabi, where it developed its innovative Opus platform. This platform leverages artificial intelligence to automate back-office operations in highly regulated sectors such as financial services, healthcare, and government. This solution is crucial for boosting operational efficiency and reducing administrative burdens in these vital areas.
AppliedAI relocated from London to Abu Dhabi in 2022. Since then, it has successfully forged strong local partnerships within the UAE’s thriving AI ecosystem, solidifying its position as a key player in the region.
MEVP is a venture capital firm primarily focused on the Middle East, managing over $300 million in assets. With offices in Dubai, Riyadh, Beirut, Cairo, and Amman, MEVP is renowned for its investments in early and growth-stage technology startups, making it an ideal partner for AppliedAI on its journey toward growth and innovation.
العربية (Arabic) To read the article in Arabic, click here
