In recent weeks, there have been a lot of acquisitions and funding rounds related to regional startup activity; the most talked-about technologies include Web3, artificial intelligence, and climate technology.
California-based AI platform aiXplain earned $6.5 million in pre-series A funding backed by Saudi Arabian startup capital firm Wa’ed Ventures, a $500 million Aramco affiliate.
With the goal of launching AI solutions globally, aiXplain, supported by US-based companies such as Transform VC and Calibrate VC, has raised a total of $16.5 million since its founding.
aiXplain, a company founded in 2020 by Hassan Sawaf, has created an integrated platform that makes it easier to create, implement, and manage AI solutions.
By enabling individuals without any prior coding experience to create sophisticated solutions using natural language prompts, the business hopes to democratize access to AI innovation.
This methodology expedites the time and effort required for integrating AI into large-scale processes, enabling enterprises to optimize operational efficiencies.
According to Fahad Alidi, managing director and CEO of Wa’ed Ventures, “Hassan and his team deeply understand the global disparity in AI access and the potentially damaging effects of leaving this gap unaddressed.”
Also Read:
Saudi Arabia’s House Ownership Rate Surpasses 63% and Approaches the Vision 2030 Goal
How AI is Being Used by a Saudi Startup to Increase Solar Energy’s Efficiency and Uptake
