KSA's Hazen.ai receives follow on funding from Wa'ed Ventures

Hazen.ai, a maker of intelligent traffic systems that use Artificial Intelligence (AI) technologies to improve road safety, has received a follow-on investment from Wa’ed, the entrepreneurship arm of Aramco.

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Hazen.ai was established in Mecca al Mukarramah in 2017 by Saudi-based entrepreneurs Sohaib Khan, Dr. Saleh Basalamah, Dr. Anas Basalamah, and Muhammad Amin. The company’s software is being used to improve the effectiveness of traffic systems in the UK, the United States, Oman, Egypt, Spain, and Peru. Hazen.ai is also bidding on projects in Argentina, Saudi Arabia, Nigeria, and Egypt.

The company this year won a global award from the International Road Federation for its traffic management systems, which combine the latest in machine learning, AI, and computer vision technologies to spot and report negative driving behavior. Hazen.ai’s software systems help reduce fatalities by enabling law enforcement to spot dangerous drivers quicker.

Hazen.ai’s video-analysis software goes beyond conventional traffic-monitoring speed cameras to identify, for example, drivers who make sudden lane changes, are driving without a seatbelt or driving while operating a smartphone, the startup states.2020 Saudi Arabia Venture Capital Report

Sohaib Khan, Chief Executive and Co-Founder commented, "This second round of financing from Wa’ed will enable Hazen.ai to bring its life-saving technology to more regions around the world. As a Saudi startup, we are grateful for the continued support from Aramco's entrepreneurship arm, which is helping bring Saudi solutions like Hazen.ai’s to a global audience."

Wassim Basrawi, Managing Director of Wa’ed added, “We are thrilled to support game-changing Saudi startups such as Hazen.ai, whose innovative technology can help save lives around the planet, which offers venture capital investment, loan financing, and incubation. Companies like Hazen.ai are great ambassadors to showcase the Kingdom’s entrepreneurial energy and talents to the world.”

Hazen.ai plans to use the new funding, its second since 2019 from Wa’ed Ventures, to engage new global customers as its initial projects mature and go into deployment.

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