AI-powered AIM Technologies raises Seed Round
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Cairo-based AI-powered customer experience platform, AIM Technologies has successfully raised an undisclosed amount its latest funding round. The SEED round was led by Sequence Ventures, a new Egypt-based VC firm focused on supporting homegrown tech-based startups.
Founded in 2018, AIM technologies are the pioneering Middle East-based customer experience platform. The startup introduced a multi-lingual text analytics solution with high accuracy in the Arabic language, and the first end-to-end automated customer research tool.
Enterprise software and SaaS startups in MENA have been raising stellar rounds this year from a 4$M Pre-Series A round closed by Sabbar, enabling entities to find and book on-demand top-notch labor, the $7M Series A by Zid, helping retailers set up their online commerce and modern commerce stores, to a $30M raised by Leena AI, integrating artificial intelligence to streamline HR operations in the Arab world. Enterprise Software startups in MENA have observed a 1,000% YoY growth in funding this year, driven by Unifonic's $125M megadeal announced earlier this year.
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AIM Technologies proprietary AI engine was developed using more than 9 billion words. In the last 24 months, the startup has monitored 2,000 brands and captured the voice of 300,000 research customers serving more than 20 of the largest enterprises across 5 countries in the region such as Vodafone, Coca Cola, Nielsen IQ, Etisalat UAE, and Wunderman Thompson. AIM Technologies is the first investment in Sequence Ventures’ portfolio, who has launched its investment platform earlier this year. Speaking on this fundraise, John Saad, co-founder and Chief Executive Officer of AIM Technologies mentioned, “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.”
Sequence Ventures aims to raise EGP 500 million over the next three to five years, in order to back local startups in transformational and crucial sectors including artificial intelligence, fintech, health-tech, ed-tech, logistics, and dev-ops. “Our mandate is to support young home-grown talent who are developing a solution to some of our own chronic issues as well as new challenges and that are stalling our economic growth and our human capital” concluded Karim Helal, Executive Chairman of Sequence Ventures. Furthering their vision, AIM Technologies will be using the funds to develop its proprietary technology, which will help them develop fully automated customer insights and actions platform enabling brands to enhance their customer’s experience.
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