The Middle East’s first AI-based customer experience platform, AIM Technologies, has raised a seed round led by one of Egypt’s newest venture Capital firms Sequence Ventures, a big step for Egyptian homegrown technology-based startups. The Cairo-based startup is the first to join Sequence Ventures’ portfolio, getting first dibs on its Egypt Deep-Tech fund, launched earlier this year to funnel capital into promising startups operating in transformational and crucial sectors including health-tech, fintech, ed-tech, prop-tech, artificial intelligence, logistics, and software development.
Over the next three to five years, Sequence Ventures has set the bar high with a goal of raising USD 500 million by its final close. Its initial pool of capital is currently being raised of EGP 150 million with a number of investments in the pipeline for next year.
AIM Technologies is the first customer experience platform utilizing lingual text analytics that provides the world’s highest accuracy in Arabic as well as the first end-to-end automated research tool. Leveraging the power of AI, AIM Technologies is cooking up innovative ways to enhance customer experience with fully automated customer insights. The startup’s proprietary AI engine was developed drawing from a pool of more than nine billion words. Over the past two years, AIM Technologies has gone on to monitor 2,000 brands and recorded the voice of 300,000 research customers, providing its services to more than 20 of the region’s largest companies including Vodafone, Coca Cola, Nielsen IQ, Etisalat UAE, and Wunderman Thompson across five countries in the MENA region.
The newly launched seed venture capital firm is helping usher in the next wave of transformational technologies in Egypt supported by an experienced panel of technical and investment mentors offering expert advice to the portfolio. “Sequence Ventures is led by a team of experienced individuals with more than one hundred years of combined experience in multiple fields such as investment, business strategy, and asset management, who we believe will be of great value to our current regional and future global growth plans,” said John Saad, Co-Founder, and CEO of AIM Technologies.
Along with a seasoned team of mentors, Sequence Venture also benefits from an extensive network of strategic alliances encompassing more than 45 venture capital firms and accelerators based in Europe, providing startups with matchmaking and exit opportunities.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
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