AlgoDriven raises US$625,000 in Pre-Series A funding from a consortium of domestic and international VC firms
Dubai, United Arab Emirates – AlgoDriven is excited to announce that it has successfully raised US$625,0000 fundraising from a consortium of both domestic and international, high profile, Venture Capital firms.
Joining the round are regional investors, Oman Technology Fund and DTEC Ventures. International venture capital firms include 500 Startups through their MENA based 500 Falcon’s Fund, as well as Silicon Valley based Social Capital.
This new investment will enable AlgoDriven to further capitalise on its position as a market leader in automotive data and software field, in the Middle East, and internationally in Australia and New Zealand. New product innovation is a key focus of AlgoDriven, which will help car dealers, banks and insurance companies evaluate used cars more accurately. International expansion is also a key focus over the coming months, as AlgoDriven pushes into the wider MENA market and beyond.