Transaction Summary
Cairo-based conversational artificial intelligence (AI) company WideBot has secured $3 million in a pre-Series A funding round. The investment was led by Keheilan Asset Management II, supported by Saudi investment firm Wafra, with participation from Enza Capital, DisrupTech Ventures, LoftyInc Capital, Den VC, and SparkLabs Global Ventures. Founded in 2016, WideBot specialises in AI-driven chatbot solutions and developed its flagship AQL Mind, the first Arabic large language model (LLM) designed to understand various Arabic dialects and accents. The company has worked with over 350 enterprise clients, including government entities, central banks, and telecommunications firms in Saudi Arabia, Egypt, and the UAE. The funding will be used to accelerate the development of AQL Mind, strengthen its AI research team, and expand the deployment of its AI solutions across the Middle East and North Africa (MENA) region.
Terms
- Fund Managers: Keheilan Asset Management II, Wafra Inc., Enza Capital Limited, DisrupTech Ventures, LoftyInc Capital
