DXwand, an Egyptian AI startup, received $4 million in Series A funding to help it expand regionally and expedite research and development.
Leading the Series A equity round was Shorooq Partners, with participation from Algebra Ventures and the Dubai Future District Fund, an existing investor.
DXwand specialises on omnichannel conversational AI, knowledge mining, and LLM. Its cutting-edge AI-driven software automates voice and text communications between consumers and companies, as well as numerous government services aimed at citizens on a variety of platforms, such as websites, call centres, Facebook Messenger, WhatsApp, SMS, and other messaging apps.
“This significant investment marks a pivotal moment for DXwand, enabling us to propel our regional expansion and intensify our commitment to advancing Gen AI and RAG technologies. We are excited about the possibilities this funding opens up for DXwand and the broader landscape of conversational AI,” said Ahmad Mahmoud, CEO of DXwand.
Tamer Azer, partner at Shorooq Partners, stated that his firm has long believed in the region’s ability to generate new-to-market products.
“Our investment in DXwand is a continuation of this thesis. DXwand enables companies to grow not just faster but also smarter and enables governments to become far more efficient. Through technology that mines institutional knowledge to deliver superior access to information; DXwand enables a far more efficient engagement between governments and companies and their stakeholders be them citizens, employees or customers. Ahmed and Mahmoud’s vision of using artificial intelligence to streamline access to information is one that started 5 years ago and is a vision we are exceedingly excited to underwrite,” Azer stated.
With this funding, DXwand will be able to establish itself as a leading force in generative AI and knowledge mining in the area by growing its presence further and stepping up its research and development activities in LLM, knowledge mining, and retrieval augmented generation (RAG).
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