US-based venture capital and investment management firm, SOSV, has chosen Egyptian startup DXwand to be a part of its cohort of 10 startups, each of which will be provided with multi-stage investments to develop and scale their ideas for positive change. SOSV invests in 150 companies every year through startup development programs. This latest batch of startups tackles global challenges from food security to lending solutions for the unbanked.
Each startup will receive $150,000 seed funding and will participate in a six-month acceleration program with a specialized salesforce, tech support for growth, and a close-knit cross-border connection.
DXwand is a smart, AI-driven software that automates conversations between customers and businesses in Facebook Messenger, WhatsApp, via SMS, or on a website. Their conversational AI tool understands slang in both Arabic and English and can extract insights from conversations and display them on dashboards for businesses to make instant, informed decisions. Their cognitive CRM technology means that the tool supports business growth by transforming conversations into leads and sales.
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