Source: Tech In Africa
Egyptian deep tech startup Intella has successfully concluded a pre-Series A funding round, securing an impressive $3.4 million. This substantial investment will play a pivotal role in supporting Intella’s expansion into the Saudi market and facilitating the development of tailored, end-to-end AI models specifically designed for the MENA region.
The funding round was led by the steadfast support of Hala Ventures, the same investor who previously backed Intella, and also featured prominent contributions from Wa’ed Ventures, the venture capital arm of Aramco, alongside notable participation from investors such as Sanabil 500 and the INSEAD alumni angel network.
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In 2021, Intella was established by Nour Altaher and Omar Mansour with the aim of offering real-time, on-demand market research services to companies across various sectors.
Nour Taher, CEO and co-founder of Intella, expressed, “Saudi Arabia’s burgeoning technological landscape aligns seamlessly with our expansion strategy.”
The recently secured funding will facilitate Intella’s entry into the Saudi market and further support the development of region-specific, end-to-end AI models for the MENA region. As part of this expansion, the company has relocated its headquarters from Cairo to Riyadh.
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Source: Tech In Africa
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